Summary: This case involves the Royal Bank of Canada (RBC) and its legal action against S-Cosmetics Clinic Inc. and Kuilin Wang. The bank was granted summary judgment requiring Wang to deliver assets of the corporation to the bank due to default on a loan agreement.

Key Points:

• Loan and Security Agreement: S-Cosmetics Clinic Inc. took a loan from RBC, secured by a General Security Agreement. Kuilin Wang, as the sole officer and director, signed the loan agreement, the security agreement, and a personal guarantee limited to $39,818.00.
• Judgment: The motion judge ruled in favor of RBC, ordering that assets secured under the agreement be turned over to the bank and reaffirming Wang’s liability up to the amount of his personal guarantee.
• Appeal: Wang argued that the General Security Agreement was signed in his corporate capacity, not personal, and contested his personal obligation to return the collateral. He did not dispute the bank's right to the assets.
• Court of Appeal Decision: The court dismissed the appeal, finding no error in the motion judge's decision that Wang must deliver the assets to the bank. The decision emphasizes the enforceability of security agreements and the obligations they impose on signatories.

Outcome: The appeal was dismissed with costs awarded to the bank in the amount of $14,139.96, inclusive of disbursements and taxes. This case highlights the legal responsibilities of corporate officers who sign security agreements and personal guarantees related to corporate loans.