Background Facts:
InstaFund Mortgage Management Corp. filed foreclosure proceedings against Clinton Li and Danny Ting Chug Ma, who were the registered owners of the property. Crowe MacKay & Company Ltd., the bankruptcy trustee of Xiao Bo Li (Clinton Li’s mother), had previously initiated a fraudulent preference claim against Clinton Li and Danny Ting Chug Ma, securing the claim with a Certificate of Pending Litigation (CPL) on the property. A court had ordered the CPL to be cancelled upon posting security of $857,831.72, but the security was not posted, leading to continued interest accrual on the mortgage.

Legal Issues:
The key issue was whether the bankruptcy trustee, holding only a CPL, could apply for an order to conduct the sale of the property under section 15 of the Law and Equity Act. Danny Ting Chug Ma argued that the trustee lacked a sufficient interest in the land for such an order.

Court’s Decision:
The court found that the trustee had a sufficient interest in the land, allowing the sale. The decision to initiate the sale before the redemption period’s end was upheld to protect the trustee’s interest.

Costs Awarded:
The court dismissed the appeal and awarded Crowe MacKay & Company Ltd. costs of $2,475, plus taxes and disbursements, with an uplift for additional written arguments.