Key Points:
- Nature of Dispute:
- Dispute over $146,688.02 from the sale of 4449 Rogers Road, Burlington, Ontario.
- Plaintiffs (282 and director Diane Salman) seek release of funds held in trust by Mr. Dar, defendants' lawyer.
- Arguments:
- Plaintiffs: Funds should be released to 282.
- Defendants: Filed an interpleader motion to pay funds into court due to conflicting shareholder claims.
- Background:
- 282, incorporated by Ms. Salman, had MYSJ Properties Inc. (majority shareholder), Proshow Homes, and Jordan Salman Inc. as shareholders.
- Post-sale dispute arose over fund disbursement and financial mismanagement allegations.
- Legal Findings:
- Interpleader Motion: Denied as Mr. Dar was not a neutral stakeholder and had a beneficial interest in the funds.
- Inherent Jurisdiction: Not invoked; MYSJ can seek relief in a separate action.
- Decision:
- Ordered disputed funds to be released to 282 by September 30, 2024.
- Costs to be decided if parties cannot agree.
Conclusion: The court ordered the release of the funds ($146,688.02) to 282, rejecting the interpleader motion and inherent jurisdiction claim. Costs will be determined if no agreement is reached.
