Wang v Jing et al
Junhua Wang
Law Firm / Organization
THC Lawyers (Tan, He & Co. LLP)
Lawyer(s)

Ran He

Law Firm / Organization
Bennett Jones LLP
Hong Jing
Law Firm / Organization
Reconstruct LLP
Lihan Jing
Law Firm / Organization
Reconstruct LLP

Key Issue: Junhua Wang sought the appointment of a receiver over a property in Markham, Ontario, due to an unpaid mortgage.

Background

  • Hong Jing & Lihan Jing (mother and son) own the property jointly.
  • They granted Wang a second mortgage of $1.1 million in April 2023.
  • No payments were made after August 2023; the loan matured in May 2024.
  • Wang claims $1.33 million is owed with 18% annual interest.
  • The Jings argue the mortgage was part of broader financing related to a business venture (Arkland Homes).

Key Legal Findings

  • Contractual Right to a Receiver: The mortgage agreement allowed Wang to seek a receiver.
  • Court’s Consideration:
    • The security risk to Wang due to increasing debt.
    • The Jings’ failure to refinance until late 2024.
    • The absence of evidence proving Wang was involved in the broader financing scheme.
  • Receivership Justified: The judge ruled it was just and convenient to appoint a receiver.

Outcome

  • The receiver was appointed to manage and enforce the mortgage.
  • Some disputes over the terms of the order remained, requiring further case conferences.
  • The court did not explicitly award damages or costs in this decision.
Superior Court of Justice - Ontario
CV-24-00726544-00CL
Real estate
$ 0
Applicant
28 August 2024