Application: The Applicant sought an order to appoint Rosen Goldberg Inc. as the Receiver of the Respondents' property at 1101 Horseshoe Valley Rd. W., Oro-Medonte, Ontario, and to grant charges over the property to the Receiver and its counsel.
Respondents' Position: Opposed the appointment of a Receiver, arguing a conflict of interest with the proposed Receiver and proposing an alternative firm.
Court's Decision: The application to appoint a Receiver was dismissed.
Reasoning:
Just and Convenient Test: The court applied the test under Section 243 of the Bankruptcy and Insolvency Act (BIA) and Section 101 of the Courts of Justice Act (CJA) to determine if appointing a Receiver was "just or convenient."
Factors Considered: The court considered several factors, such as:
The nature of the property (vacant land previously used as a golf course).
The rights of the secured creditor.
The lack of evidence suggesting depreciation of the property's value.
The ongoing litigation and issues related to the 2001 Easement affecting property redevelopment.
The potential conflict of interest for Rosen Goldberg Inc., already appointed as a Receiver for adjacent lands involved in the dispute.
Conclusion:
The court found no immediate necessity or convenience in appointing a Receiver at this time, especially given the conflict concerns. The application was dismissed without prejudice to any other remedies the parties might pursue.
