Olympia & York Developments Ltd. (Bankrupt) v. Olympia & York Realty Corp. et al., [2001] O.T.C. 646 (SC)

• Judge: Farley, J.
• Court: Superior Court of Justice of Ontario (Canada)
• Case Date: December 20, 2001
• Jurisdiction: Ontario
• Citations: [2001] O.T.C. 646 (SC)

Olympia & York Dev. v. Olympia & York, [2001] O.T.C. 646 (SC)

MLB headnote and full text

Temp. Cite: [2001] O.T.C. TBEd. SE.015

PricewaterhouseCoopers Inc., in its capacity as Trustee of Olympia & York  Developments Limited, a bankrupt (plaintiff) v. Olympia & York Realty Corp. and Olympia & York Sf Holdings Corporation (defendants)

(Court File No. 93-CQ-38609) (Commercial List No. 98-CL-1034)

Indexed As: Olympia & York Developments Ltd. (Bankrupt) v. Olympia & York Realty Corp. et al.

Court of Ontario

Superior Court of Justice

Farley, J.

August 9, 2001 and December 27, 2001.

Summary:

This headnote contains no summary.

Bankruptcy - Topic 7908

Reviewable transactions - Review of consideration - See paragraphs 1 to 28.

Company Law - Topic 9783

Actions against corporations and directors - Action for oppressive conduct - Persons entitled - See paragraphs 29 to 32.

Practice - Topic 6923

Costs - General principles - Power to award or fix costs - See paragraphs 47 to 53.

Practice - Topic 7051

Costs - Party and party costs - Entitlement to party and party costs - Nonparty - See paragraphs 42 to 46.

Cases Noticed:

Hillstead Ltd., Re (1979), 26 O.R.(2d) 289 (S.C.), refd to. [para. 18].

Pepper (Inspector of Taxes) v. Hart, [1993] 1 All E.R. 42 (H.L.), refd to. [para. 18].

Plante (Bankrupt), Re (1996), 89 O.A.C. 261; 38 C.B.R.(3d) 165 (C.A.), refd to. [para. 18].

Standard Trustco Ltd. (Bankrupt) v. Standard Trust Co. (1995), 86 O.A.C. 1; 26 O.R.(3d) 1 (C.A.), refd to. [para. 22].

Telford v. Holt (1987), 78 N.R. 321; 81 A.R. 385; 21 C.P.I.(2d) 1 (S.C.C.), refd to. [para. 26].

Mitchell, Houghton Ltd. v. Mitchell, Houghton (Quebec) Ltd. (1970), 14 C.B.R.(N.S.) 302 (Ont. S.C.), refd to. [para. 27].

Alberta v. Northland Bank (1994), 93 Man.R.(2d) 138; 25 C.B.R.(3d) 166 (Q.B.), refd to. [para. 28].

Canada (Attorney General) v. Standard Trust Co. (1991), 5 O.R.(3d) 660 (Gen. Div.), refd to. [para. 29].

Margaritis, Re (1977), 23 C.B.R.(N.S.) 150 (Ont. C.A.), refd to. [para. 29].

Gainers Inc. et al. v. Pocklington et al. (1992), 132 A.R. 35; 7 B.L.R.(2d) 87 (Q.B.), refd to. [para. 30].

820099 Ont. Inc. v. Ballard (Harold E.) Ltd. (1991), 3 B.L.R.(2d) 123 (Ont. Gen. Div.), affd. (1991), 3 B.L.R.(2d) 113 (Ont. Div. Ct.), refd to. [para. 31].

Dallas/North Group Inc. (Bankrupt) et al., Re (2001), 148 O.A.C. 288 (C.A.), refd to. [para. 43].

Stocznia Gdanska S.A. v. Latreefers Inc., [2000] E.W.J. No. 469 (C.A.), refd to. [para. 43].

Sturmer v. Beaverton (Town) (1911), 25 O.L.R. 566 (Div. Ct.), refd to. [para. 43].

Hutchinson v. Greenwood (1854), 24 L.J.Q.B. 2 (C.A.), refd to. [para. 43].

Rockwell Developments Ltd. v. Newtonbrook Plaza Ltd., [1972] 3 O.R. 199 (C.A.), refd to. [para. 47].

Young v. Young et al., [1993] 4 S.C.R. 3; 160 N.R. 1; 34 B.C.A.C. 161; 56 W.A.C. 161, refd to. [para. 47].

Mutual Trust Co. v. Stornelli - see XLO Investments Ltd. v. Hurontario Management Services et al.

XLO Investments Ltd. v. Hurontario Management Services et al. (1999), 118 O.A.C. 258; 170 D.L.R.(4th) 381 (C.A.), refd to. [para. 47].

Murano et al. v. Bank of Montreal et al. (1998), 111 O.A.C. 242; 41 O.R.(3d) 222 (C.A.), refd to. [para. 48].

Authors and Works Noticed:

Halsbury Laws of England (4th Ed. 1976), vol. 17, pp. 53, 54 [para. 4].

Holden and Morawetz, Bankruptcy and Insolvency Law of Canada (3rd Ed. Looseleaf), p. 4-93 [para. 27].

Palmer, Kelly, The Law of Set-Off in Canada (1994), p. 187 [para. 27].

Sopinka, John, Lederman, Sydney N., and Bryant, Alan W., The Law of Evidence in Canada (2nd Ed. 1999), p. 302 [para. 4].

Counsel:

F.J.C. Newbould, Q.C., and Aaron A. Blumenfeld, for the plaintiff;

Peter F.C. Howard and Ashley John Taylor, for the defendants.

This action was heard on September 11-14, 18, 2000 and April 3-5, 9-10, December 20, 2001, by Farley, J., of the Ontario Superior Court, who released the following decision on August 9, 2001 and supplementary reasons on December 27, 2001.

Please note: The following judgment has not been edited.