First Investors Corp. v. 237208 Alberta Ltd., Serediak et al., (1982) 20 Sask.R. 335 (QB)
Judge | Walker, J. |
Court | Court of Queen's Bench of Saskatchewan (Canada) |
Case Date | October 12, 1982 |
Jurisdiction | Saskatchewan |
Citations | (1982), 20 Sask.R. 335 (QB) |
First Inv. Corp. v. 237208 Alta. (1982), 20 Sask.R. 335 (QB)
MLB headnote and full text
First Investors Corp. Ltd. v. 237208 Alberta Ltd., Serediak et al.
(No. 700)
Indexed As: First Investors Corp. v. 237208 Alberta Ltd., Serediak et al.
Saskatchewan Court of Queen's Bench
Judicial Centre of Battleford
Walker, J.
October 12, 1982.
Summary:
The plaintiff applied for an order that an accountant be appointed receiver and manager of the property and assets of the defendant corporation.
The Saskatchewan Court of Queen's Bench dismissed the application.
Receivers - Topic 1206
Grounds for granting receivership - On application of a mortgagee - The Saskatchewan Court of Queen's Bench referred to the grounds for appointing a receiver on the application of a mortgagee (see paragraphs 5 to 7).
Receivers - Topic 1506
Grounds for refusing grant of receivership - Security limitations - A mortgagee of land applied for a receiving order respecting the business (hotel and tavern) carried on on the mortgaged land - The Saskatchewan Court of Queen's Bench dismissed the mortgagee's application because the business was not included in the mortgagee's security (see paragraphs 8 to 10).
Receivers - Topic 1208
Grounds for grant of receivership - On application of equitable mortgagee - The Saskatchewan Court of Queen's Bench stated that an equitable mortgagee, with no means of taking possession, has a prima facie right to the appointment of a receiver - The court stated that such a right may be altered by s. 45.8 of the Queen's Bench Act (see paragraphs 15 and 16).
Mortgages - Topic 207
Equitable mortgages - What constitutes an equitable mortgage - The Saskatchewan Court of Queen's Bench stated that a mortgage registered under the Land Titles Act is not an equitable mortgage or a legal mortgage (see paragraph 16).
Cases Noticed:
Holmes v. Bell, 48 E.R. 1195, refd to. [para. 7].
Whitley v. Challis, [1892] 1 Ch. 64, refd to. [para. 10].
Union Bank of Canada v. Engen (1916), 31 D.L.R. 575, affirmed (1917), 33 D.L.R. 435, refd to. [para. 15].
Statutes Noticed:
Queen's Bench Act, R.S.S. 1978, c. Q-1, sect. 45.8 [para. 5].
Land Titles Act, R.S.S. 1978, c. L-5, sect. 29 [para. 14].
Authors and Works Noticed:
Corpus Juris Secundum, vol. 86, para. 117 [para. 7].
Falconbridge on Mortgages (4th Ed.), pp. 236, 244 [para. 14]; 757 [para. 10].
Halsbury's Laws of England (3rd Ed.), vol. 27, para. 694 [para. 10]; vol. 32, para. 633 [para. 17].
Counsel:
W.N. Beckman, for the applicant;
H. Dahlem, for the respondents, 237208 Alberta Ltd. and Fernando Serediak.
This application was heard by WALKER, J., of the Saskatchewan Court of Queen's Bench.
The judgment of WALKER, J., was delivered at Saskatoon, Saskatchewan, on October 12, 1982.
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Table of cases
...(1987), 11 BCLR (2d) 136, 16 CPC (2d) 148, [1987] BCJ No 192 (SC) ..................... 59 First Investors Corp v 237208 Alberta Ltd (1982), 20 Sask R 335, [1982] SJ No 817 (QB) ................................................................................. 520 First Investors Corp v Prin......
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Table of Cases
...136, 16 C.P.C. (2d) 148, [1987] B.C.J. No. 192 (S.C.) ............................ 56 First Investors Corp. v. 237208 Alberta Ltd. (1982), 20 Sask. R. 335, [1982] S.J. No. 817 (Q.B.) ............................................................................ 475 First Investors Corp. v. Pr......
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Commencement, Administration, and Supervision of the Receivership
...& R Wood, Personal Property Security Law , 2d ed (Toronto: Irwin Law, 2012) at 675–76. 4 First Investors Corp v 237208 Alberta Ltd (1982), 20 Sask R 335 (QB). Commencement, Administration, and Supervision of the Receivership 521 a reasonable period of time to pay before a receiver could tak......
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Commencement, Administration, and Supervision of the Receivership
...& R. Wood, Personal Property Security Law (Toronto: Irwin Law, 2005) at 569–71. 4 First Investors Corp. v. 237208 Alberta Ltd. (1982), 20 Sask. R. 335 (Q.B.). Commencement, Administration, and Supervision of the Receivership 475 a reasonable period of time to pay before a receiver could tak......
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...Royal Bank of Canada v. Harding (1986), 46 Sask.R. 94 (Q.B.), consd. [para. 24]. First Investors Corp. Ltd. v. 237208 Alberta Ltd. (1982), 20 Sask.R. 335 (Q.B.), refd to. [para. 30]. St. Mary's Parish Credit Union Ltd. v. Ball (T.M.) Lumber Co., [1961] S.C.R. 310; 34 W.W.R.(N.S.) 625; 27 D.......
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...party's claims, or the other party's position." - See paragraph 25. Cases Noticed: First Investors Corp. Ltd. v. 237208 Alberta Ltd. (1982), 20 Sask.R. 335 (Q.B.), refd to. [para. 16]. Gentra Canada Investments Inc. v. Lehndorff United Properties Canada et al. (1995), 169 A.R. 138; 97 W.A.C......
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Table of cases
...(1987), 11 BCLR (2d) 136, 16 CPC (2d) 148, [1987] BCJ No 192 (SC) ..................... 59 First Investors Corp v 237208 Alberta Ltd (1982), 20 Sask R 335, [1982] SJ No 817 (QB) ................................................................................. 520 First Investors Corp v Prin......
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Commencement, Administration, and Supervision of the Receivership
...& R Wood, Personal Property Security Law , 2d ed (Toronto: Irwin Law, 2012) at 675–76. 4 First Investors Corp v 237208 Alberta Ltd (1982), 20 Sask R 335 (QB). Commencement, Administration, and Supervision of the Receivership 521 a reasonable period of time to pay before a receiver could tak......