Background: Jin-Ocean Mortgage Investment Corporation sought an order absolute in foreclosure proceedings against 1011066 BC Ltd., 1032734 BC Ltd., Yan Chun Liu, iFortune Homes Inc., and Tong Zhang (deceased, represented by the Zhang Estate). The properties involved were 426 and 408 West 41st Street, Vancouver, BC.

Legal Arguments/Issues:

• Petitioner’s Position: Jin-Ocean Mortgage Investment Corporation, after redeeming a prior mortgage by the Bank of Montreal (BMO), claimed over $11.5 million and sought to foreclose on the properties due to default.
• Respondent’s Position: The Zhang Estate opposed the order absolute, arguing inadequate marketing and potential undervaluation of the properties. They sought conduct of sale, claiming a windfall would occur if the order absolute was granted without proper sale efforts.
• Zhang Estate’s Claims: Alleged misrepresentations by Hang Yin led to significant financial losses for Tong Zhang, and asserted a constructive trust over the properties.

Held: The court adjourned the petitioner's application for an order absolute, requiring further evidence and disclosure regarding any agreements for the sale of the subject properties. The Zhang Estate’s application for conduct of sale was dismissed, with the court giving preference to the petitioner’s pending application for an order absolute.

Costs and Damages Awarded: Costs at Scale B, exact amount unspecified, added to the mortgage balance.