AKA Investments Ltd. v. Sathasivam
Indran Sathasivam
Law Firm / Organization
Not Specified
Lawyer(s)

R. Eichler

Wing Wah Investment Inc.
Law Firm / Organization
Innovative Legal Solutions LLP
Lawyer(s)

Bonita Lewis-Hand

Andy Hong-Yu Yen
Law Firm / Organization
Unrepresented
Kevin Yi-Hsiung Hsieh
Law Firm / Organization
Innovative Legal Solutions LLP
Lawyer(s)

Bonita Lewis-Hand

All Tenants or Occupiers of the Lands
Law Firm / Organization
Unrepresented
AKA Investments Ltd.
  • Facts: AKA Investments Ltd. initiated a foreclosure action against Indran Sathasivam regarding a mortgage on a Vancouver property. The dispute centered on the correct interest rate applicable under the mortgage agreement post-December 31, 2019, with AKA asserting an 18% rate was applicable, contrary to the previously applied 9.25% rate.

  • Issue: The primary legal issue was whether the foreclosure order (Order Nisi) should be amended to reflect an 18% interest rate applicable after December 31, 2019, instead of the 9.25% rate initially applied, and whether a summary accounting should be ordered to adjust for this difference.

  • Court's Ruling: The court granted AKA's application to amend the Order Nisi to include the 18% per annum interest rate post-December 31, 2019. It found that the amendment was justified under the "slip rule" or the court's inherent jurisdiction due to a clerical mistake and that there was no undue prejudice to the respondents that would prevent the amendment.

  • Costs/Damages Awarded: AKA Investments Ltd. was awarded costs of its application against Wing Wah, Mr. Hsieh, and Mr. Sathasivam on a joint and several basis, as well as costs of the Wing Wah petition against both Wing Wah and Mr. Hsieh on a joint and several basis, although the specific amount of costs was not detailed in the summary.

Supreme Court of British Columbia
H190833
Real estate
Petitioner