Royal Bank of Canada v. Cam-Steam (1987) Ltd. et al., (1988) 89 N.B.R.(2d) 83 (TD)

• Judge: Miller, J.
• Court: Court of Queen's Bench of New Brunswick (Canada)
• Case Date: March 07, 1988
• Jurisdiction: New Brunswick
• Citations: (1988), 89 N.B.R.(2d) 83 (TD)

Royal Bk. v. Cam-Steam Ltd. (1988), 89 N.B.R.(2d) 83 (TD);

    89 R.N.-B.(2e) 83; 226 A.P.R. 83

MLB headnote and full text

[French language version follows English language version]

[La version française vient à la suite de la version anglaise]

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Royal Bank of Canada (applicant) v. Cam-steam (1987) Ltd., Complex 329 Ltd./Ltee., Terry Stewart and Elizabeth Stewart (respondents)

(M/M/22/88)

Indexed As: Royal Bank of Canada v. Cam-Steam (1987) Ltd. et al.

New Brunswick Court of Queen's Bench

Trial Division

Judicial District of Moncton

Miller, J.

March 7, 1988.

Summary:

A bank appointed a receiver under the terms of a debenture. The bank applied for confirmation of the appointment.

The New Brunswick Court of Queen's Bench dismissed the application. See also: Royal Trust Corp. v. DQ Plaza Holdings Ltd. (1984), 36 Sask.R. 84; Macotta Company v. Condor Metal Fabricators Ltd. (1979), 40 A.R. 408; Bank of Nova Scotia v. Sullivan Investments Ltd. (1982), 21 Sask.R. 14.

Receivers - Topic 1726

Appointment - By court - When granted - Pursuant to the terms of a debenture a bank appointed a receiver of the assets of a company - The bank applied for confirmation of the appointment of the receiver - The New Brunswick Court of Queen's Bench, Trial Division, dismissed the application - The court stated that it should not supervise the receiver nor should it give its protection to an appointment made under a private security - See paragraphs 18 and 19.

Cases Noticed:

Ronald Elwyn Lister Ltd. v. Dunlop Canada Ltd., [1982] 1 S.C.R. 726; 42 N.R. 181, refd to. [para. 14].

Mister Broadloom Corporation (1968) Ltd. v. Bank of Montreal et al. (1979), 101 D.L.R.(3d) 713 (Ont. H.C.), refd to. [para. 15].

Counsel:

James Gibson, for the applicant;

Peter Wright, for the respondents Cam-Steam (1987) Ltd., Terry Stewart and Elizabeth Stewart;

Sylvio LeBlanc, for the respondent Complex 329 Ltd./Ltée.

This application was heard by Miller, J., of the New Brunswick Court of Queen's Bench. The decision of Miller, J., was delivered on March 7, 1988.