First Investors Corp. v. 237208 Alberta Ltd., Serediak et al., (1982) 20 Sask.R. 335 (QB)

JudgeWalker, J.
CourtCourt of Queen's Bench of Saskatchewan (Canada)
Case DateOctober 12, 1982
JurisdictionSaskatchewan
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.

To continue reading

Request your trial
10 practice notes
  • Table of cases
    • Canada
    • Irwin Books Bankruptcy and Insolvency Law. Second Edition Part Four
    • 19 Junio 2015
    ...(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......
  • Table of Cases
    • Canada
    • Irwin Books Archive Bankruptcy and Insolvency Law Part Four
    • 8 Septiembre 2009
    ...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......
  • Commencement, Administration, and Supervision of the Receivership
    • Canada
    • Irwin Books Bankruptcy and Insolvency Law. Second Edition Part Three
    • 19 Junio 2015
    ...& 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......
  • Commencement, Administration, and Supervision of the Receivership
    • Canada
    • Irwin Books Archive Bankruptcy and Insolvency Law Part Three
    • 8 Septiembre 2009
    ...& 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......
  • Request a trial to view additional results
4 cases
  • Textron Financial Canada Ltd. v. Chetwynd Motels Ltd. et al., [2010] B.C.T.C. Uned. 477 (SC)
    • Canada
    • Supreme Court of British Columbia (Canada)
    • 9 Abril 2010
    ...Commercial Bank v. Gemcraft Ltd. (1985), 3 C.P.C.(2d) 13, at 14 (Ont. S.C.) and First Investors Corp Ltd. v. 237208 Alta. Ltd. (1982), 20 Sask.R. 335, at 341 (Q.B.)." [37] The Court held there was no evidence that "ordinary legal remedies" were insufficient to preserve the property pending ......
  • Campbell v. Campbell, (1998) 166 Sask.R. 41 (QB)
    • Canada
    • Saskatchewan Court of Queen's Bench of Saskatchewan (Canada)
    • 17 Marzo 1998
    ...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.......
  • Pelican Lake First Nation v. Bill et al., (2003) 243 Sask.R. 285 (QB)
    • Canada
    • Saskatchewan Court of Queen's Bench of Saskatchewan (Canada)
    • 12 Diciembre 2003
    ...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......
  • United Savings Credit Union v. F & R Brokers Inc. et al., 2003 BCSC 640
    • Canada
    • British Columbia Supreme Court of British Columbia (Canada)
    • 9 Diciembre 2002
    ...to. [para. 26]. Leas Hotel Co., Re, [1902] 1 Ch. 332, refd to. [para. 26]. First Investors Corp. Ltd. v. 237208 Alberta Ltd. et al. (1982), 20 Sask.R. 335 (Q.B.), refd to. [para. Brooks v. Westshores Inn Ltd., [1989] B.C.J. No. 1633 (S.C.), refd to. [para. 28]. Statutes Noticed: Law and Equ......
2 books & journal articles
  • Table of cases
    • Canada
    • Irwin Books Bankruptcy and Insolvency Law. Second Edition Part Four
    • 19 Junio 2015
    ...(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......
  • Commencement, Administration, and Supervision of the Receivership
    • Canada
    • Irwin Books Bankruptcy and Insolvency Law. Second Edition Part Three
    • 19 Junio 2015
    ...& 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......

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT