19 Jan 2023
Pillar Capital Corp. v Horseshoe Valley Ranch Ltd
In the case of Pillar Capital Corp. v Horseshoe Valley Ranch Ltd dated January 19, 2023, the petitioner, Pillar Capital Corp ("Pillar"), sought an order nisi based on collateral mortgages granted by the respondents, Horseshoe Valley Ranch Ltd. ("Horseshoe"), and others. The case involved several parcels of land in the Peace River District of British Columbia, known as Horseshoe Valley Ranch. The respondents raised various defenses to Pillar's debt claim and requested that the proceeding be referred to the trial list under Rule 22-1(7)(d) of the Supreme Court Civil Rules.
The court issued the following orders in relation to the first two triable issues:
a) Regarding the criminal interest rate issue, the parties were granted leave to exchange expert evidence supporting their positions and to conduct cross-examinations on that evidence.
b) Concerning the improvident realization issue, the parties were granted leave to exchange further affidavits, including expert evidence, on that issue, and to conduct cross-examinations on those affidavits.
The Registrar had the authority to define the issues, order document production, and hear evidence as she saw fit. If an issue arose beyond the Registrar's jurisdiction, it could be referred to the court. Once the Registrar's certificate was available, the court expected to provide a decision on the Orders sought in the petition. If further submissions were needed, counsel would be informed. The determination of costs would be made during the final hearing on the petition.