The case of 2642322 Ont. Inc. vs. Rexell Dev. Inc., dated March 28, 2023, involved 264322 ONTARIO INC. ("the Applicant") and REXELL DEVELOPMENT INC. ("the Respondent"). In this case, the Applicant, as the third mortgagee on a vacant land parcel in Ajax, contested various charges and fees totaling around $200,000 that had been paid to Rexell, the first mortgagee, and the entity that sold the property through a power of sale. The central issues revolved around the legality and enforceability of the charges. The Applicant argued that these fees were illegal, unenforceable, and unsubstantiated, potentially constituting fines or penalties against the provisions of the Interest Act. In response, Rexell defended the charges, with the exception of two erroneous charges totaling $59,113.75. As a result of the proceedings, the Respondent, Rexell, was directed to pay a sum of $155,983.41 to the Applicants due to incorrect charges that had been levied under the Power of Sale and Mortgage Accounting. Additionally, the Applicants were declared as the prevailing parties and were granted entitlement to their application costs, unless a mutually agreed-upon settlement on costs was achieved. Regarding the issue of costs, the parties were advised to reach a settlement agreement. If no consensus was reached, a specified procedure was outlined for the submission of cost-related documents.