Legal Blog

Equitable Execution or Mortgage

Bank of Montreal v. Georgakopoulos 2017 Ont SCJ

Bank receive payment on a line of credit and discharged its mortgage. Unfortunately, the bank forgot to close the line of credit and the defendants ran up an additional $295,000 in debt. The bank brought an action for an equitable mortgage on the defendants’ new property and repayment of the loan. The bank then obtained a certificate of pending litigation without notice. The defendants, acting for themselves, brought a motion to set aside the certificate and dismiss the action. The judge noted that the self-represented defendants’ motion materials addressed various principles of constitutional and international law, having nothing to do with the plaintiff’s claim, and dismissed the motion.

Written by Jonathan Speigel Jonathan Speigel, the founding partner of Speigel Nichols Fox LLP, leads the litigation and construction practices.