Background: Wing Wah Investment Inc. and Kevin Yi-Hsiung Hsieh issued a $225,000 loan to Indran Sathasivam, secured by a second mortgage. AKA Investments Ltd. held the first mortgage of $1.1 million. After Sathasivam defaulted, AKA obtained an order nisi with incorrect interest rates due to a clerical error.

Legal Issues: The appeal addressed the interpretation of mortgage interest provisions, the use of the slip rule, and the contravention of Section 8 of the Interest Act. Wing Wah contested the payment of interest after June 30, 2020, arguing the mortgage did not provide for it and that the interest rate should be 9.25%, as stated in the original order nisi. The court corrected the error in the order nisi under the slip rule, changing the interest rate to 18% per annum after December 31, 2019. Wing Wah argued this substantive change caused them prejudice due to reliance on the original terms and claimed the interest calculation violated the Interest Act by charging a higher rate on arrears.

Held: The appeals were dismissed. The court held that interest was payable after June 30, 2020, at 18% per annum until full repayment. The correction of the order nisi under the slip rule was appropriate and did not prejudice Wing Wah. The interest calculation did not contravene the Interest Act since it was compounded monthly, not daily.

Costs/Damages Awarded: There were no specific awards or costs mentioned in the judgment summary. The court confirmed the corrections and dismissed the appellants' petitions.