Sun Life Savings and Mortgage Corp. v. Sampson, (1991) 9 B.C.A.C. 262 (CA)

• Court: Court of Appeal (British Columbia)
• Case Date: December 12, 1991
• Jurisdiction: British Columbia
• Citations: (1991), 9 B.C.A.C. 262 (CA)

Sun Life v. Sampson (1991), 9 B.C.A.C. 262 (CA);

    19 W.A.C. 262

MLB headnote and full text

Sun Life Savings and Mortgage Corp. (formerly known as Pacific Mortgage Corp.) (petitioner/respondent) v. Selvida Maria Sampson, Raymond David Sampson, Highland-Pacific Mortgage Corp., White Shore Investments Ltd., and the Royal Bank of Canada (respondents/respondents)

(CA014669)

Indexed As: Sun Life Savings and Mortgage Corp. v. Sampson

British Columbia Court of Appeal

Macdonald, J.A.,

December 12, 1991.

Summary:

A creditor applied for court approval of the sale of residential property at $985,000 to Sail View. Before approval the court learned that another bidder (Cooke) was offering $1,016,000. The court ordered sealed offers. Cooke bid $987,500 and Sail View bid $1,030,000. The master approved Sail View's bid.

Sail View then applied to set aside the master's order and for approval of Sail View's first offer. The British Columbia Supreme Court dismissed the application - see paragraphs 5 to 46 below. Sail View applied for leave to appeal.

The British Columbia Court of Appeal dismissed the application for leave to appeal - see paragraphs 1 to 4.

Practice - Topic 9565

Sales by court - Court approval, considerations - The British Columbia Court of Appeal stated that in dealing with a request for approval the court is concerned primarily with protecting the interests of creditors; and a secondary but important consideration is protecting the integrity of the sale process (see paragraph 33).

Practice - Topic 9604

Sales by court - Sale of land - Order for sealed tenders - A creditor applied for court approval of the sale of a residential property for $985,000 to Sail View - Before approval Cooke presented a bid to the court of $1,016,000 after which the court ordered sealed tenders - Sail View bid $1,030,000 which was approved by a master - Cooke bid $987,500 - Sail View attacked the master's approval - The British Columbia Supreme Court dismissed Sail View's application and the British Columbia Court of Appeal dismissed an application for leave to appeal - The Supreme Court held that in the circumstances the master was justified in ordering sealed tenders (see paragraph 36).

Receivers - Topic 2895

Property - Sale of property - Revised offers - [See Practice - Topic 9604 ].

Cases Noticed:

Westcoast Savings Credit Union v. Wachal et al. (1988), 32 B.C.L.R.(2d) 390, refd to. [paras. 3, 22].

F.B.D.B. v. Mission Creek Farm Inc. (1988), 25 B.C.L.R.(2d) 188 (C.A.), refd to. [para. 21].

Cameron v. Bank of Nova Scotia (1981), 45 N.S.R.(2d) 303; 86 A.P.R. 303; 38 C.B.R.(N.S.) 1 (N.S.C.A.), refd to. [para. 22].

Commerce Capital Trust Co. v. Magna Investments Number One Ltd. (1980), 21 B.C.L.R. 394 (S.C.), affd. 23 B.C.L.R. 50 (C.A.), refd to. [para. 24].

Morguard Mortgage Insurance Investments Ltd. v. Faro Development Corp., [1975] 1 W.W.R. 737 (Alta. C.A.), dist. [para. 24].

Royal Bank of Canada v. Derco Industries Ltd. (1988), 24 B.C.L.R.(2d) 202 (S.C.), refd to. [para. 27].

Selkirk, Re (1986), 58 C.B.R.(N.S.) 245 (Ont. H.C.), refd to. [para. 29].

Crown Trust Co. v. Rosenberg (1986), 60 O.R.(2d) 87 (Ont. H.C.), refd to. [para. 29].

Kerr v. Royal LePage Real Estate Services Ltd. (1991), 4 B.C.A.C. 54; 9 W.A.C. 54, refd to. [para. 30].

Royal Bank of Canada v. Soundair Corp. (1991), 46 O.A.C. 321, refd to. [para. 39].

Statutes Noticed:

Rules of Court (B.C.), Supreme Court Rules, rule 43 [para. 16].

Counsel:

R. Gibbens, for the appellant 269 Sail View Ventures Ltd.;

   G. Verdicchio, for the appellant Sun Life Savings and Mortgage Corp.;

H. Suiker, for the respondents Highland-Pacific Mortgage Corp. and White Shore Investments Ltd.

This application for leave to appeal was heard by Macdonald, J.A., of the British Columbia Court of Appeal. The decision of Macdonald, J.A., was delivered orally on December 12, 1991.