Background: GMC Properties Inc. and Rampart Estates Ltd. entered into a purchase and sale agreement for commercial property in Esquimalt, BC, in February 2017, which was amended twice in April and September 2017. A dispute arose when Rampart's environmental report did not meet GMC’s approval, leading to a claim for specific performance by GMC and the registration of a certificate of pending litigation (CPL) against the property.

Legal Issues:

1. Interest in Land: The chambers judge initially canceled the CPL, finding that GMC’s claim did not constitute an interest in land under section 252 of the Land Title Act.
2. Steps in Litigation: The judge noted that no formal steps had been taken by GMC for over a year before Rampart's application to cancel the CPL, as required by the statute.

Court’s Decision: The Court of Appeal held that the chambers judge erred in his interpretation. The judge misunderstood GMC's claim as being for an equitable interest in land that arose immediately upon the formation of the agreement. Furthermore, the judge failed to properly weigh informal steps taken by GMC and the lack of actual prejudice to Rampart.

Conclusion: The Court of Appeal allowed the appeal, dismissed the application to cancel the CPL, and preserved Rampart’s right to bring a new application. No specific monetary costs or awards were detailed in the provided document.

Costs and Awards: The document did not specify any particular amount of costs or awards granted in favor of the successful party.