Background:
- Property: 5585 148 Street, Surrey, BC.
- Initial Contract: Appellants agreed to buy the property for $2,350,000, but the sale was not court-approved due to insufficient funds to discharge existing mortgages.
- Foreclosure: Proceedings initiated in August 2022.
- Competing Sale: In June 2023, the Bals agreed to sell the property to Dalvir Singh Khangura for $3.3 million, which the court approved.
Key Issues:
- Specific Performance: Appellants sought to enforce their prior purchase agreement.
- Court Approval: The sale to Khangura satisfied nearly all mortgage holders.
- Application for Stay: Appellants applied to stay the sale pending appeal, claiming unique interest and potential prejudice.
Court's Analysis:
- Specific Performance Claim: Found bound to fail as the original offer was not court-approved.
- Procedural Arguments: No procedural error in approving the Khangura sale; no competing bids were presented.
- Unique Interest Argument: Insufficient evidence of unique interest in the property.
- Balance of Convenience: Prejudice to the Bals outweighed appellants' arguments.
Conclusion:
- Stay Application: Dismissed. The court allowed the sale to Khangura to proceed, finding no merit in the appellants' claims.
Outcome: Sale to Dalvir Singh Khangura approved; appellants' application for a stay dismissed.
