Supreme Court

Decision Information

Bank of Montreal v Polar Pandas Developments Limited

Court Supreme Court
Date 1992-10-30
File numbers CV 04117
Judge(s) de Weerdt
Location Yellowknife
Cases and statutes considered Cases considered:
Royal Bank of Canada v. Digital Video & Sound Inc. (1990), 76 Alta. L.R. (2d) 390 (Q.B.)

Statutes considered:
Bank act, R.S.C. 1985, c. B-1
Decision information:

Abstract: Application for a declaration of priority to proceeds of a sheriff's seizure of goods seized in distraint for rent. The Plaintiff's Bank Act security attached before the defendant could claim any right to distrain upon the goods for non-payment of rent and there was no other right in or over the goods that the defendant could successfully claim in priority to that security.
Decision: Determination that Bank had priority. Costs of storage divided equally. Costs of the seizure and sale, apart from storage costs, credited to the defendant. Costs of this application to plaintiff.
Subjects: Bankruptcy and insolvency - Preferred claims - Priorities

Decision Content

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