Legal Blog

Valentine

We reported on the 2002 decision of the Ontario Court of Appeal in Toronto-Dominion Bank v. Valentine Estate (see newsletter of December 2002). In that case, the court decided that the bank had a duty to inform the debtor-insureds that their insurance was being cancelled because their loan was in default. The bank moved for leave to appeal this decision to the Supreme Court of Canada. The Court did not grant leave and the decision, and the law stated in it, stands.