Realtech Capital Group Inc., Peterson Investment Group Inc., and Earlston Mortgage Corp. sought a sealing order for an affidavit in a foreclosure proceeding.
The affidavit contained details of a Purchase and Sale Agreement (PSA) deemed commercially sensitive and confidential.
The PSA had a confidentiality clause preventing disclosure of its terms.
Issue:
The applicants argued for the sealing of the affidavit to protect commercial interests and the integrity of distressed sales processes, including foreclosure proceedings.
Court's Ruling:
The court granted a partial sealing order.
It ordered the sealing of specific parts of the affidavit, notably the PSA details, but allowed the disclosure of the purchase's basic terms and the proposed purchaser's identity.
The court balanced the need for confidentiality against the public interest in open court proceedings and found that the entirety of the sealing sought was not warranted.
The sealing order is to remain in place until further court order.
Costs or Damages Awarded:
The judgment does not specify costs or damages awarded to any party. The focus was on the sealing order's appropriateness and scope??.
