Background:
The Bank of Montreal sued Alexandra Jen-Yi Lee and Kwei-Lan Liao for an outstanding debt related to a Homeowner Readiline line of credit (Account No. 22192306692). The Court had previously ruled in favor of the bank on December 10, 2024, establishing that the debt was valid and ordering costs against the defendants. The issue of interest calculation remained unresolved.

Legal Issues and Arguments:

• The Bank of Montreal submitted interest calculations based on its prime rate, compounding monthly.

• The defendants alleged that the bank manipulated calculations for profit and violated court orders. They also argued that the bank improperly refused payments to maximize costs.

• The Court rejected the defendants' arguments, ruling that the bank’s calculations complied with the contractual terms and prior court orders.

Judgment and Award:

• The Court awarded judgment to the Bank of Montreal for $418,485.34 as of December 10, 2024.

• Post-judgment interest was to be calculated under section 7 of the Court Order Interest Act.

• The Bank of Montreal was also awarded costs at scale B.