Overview:
The Bank of Montreal sought summary judgment for an unpaid debt on a Homeowner Readiline line of credit. The defendants, Lee and Liao, admitted to borrowing funds but disputed the amount owed, raising issues about the applicability of the original agreement and the calculation of interest.

Key Legal Issues

1. Debt Owed: The court determined that a prima facie case for the debt existed. The amount owed as of February 11, 2022, was $352,490.79, plus interest under the original agreement, which calculated interest daily based on the bank’s prime rate, compounded monthly.
2. Interest Calculation: The defendants challenged the plaintiff’s interest calculations and argued the debt was governed by statutory interest under the Court Order Interest Act. The court rejected this, ruling the original agreement applied.
3. Evidence of Interest Owed: The court found insufficient evidence to calculate the exact interest from February 2022 to judgment due to gaps in admissible evidence. It directed further submissions from both parties, requiring an affidavit from the plaintiff's corporate representative.

Costs
The court awarded costs to the plaintiff at Scale B under the British Columbia Supreme Court Civil Rules, as the plaintiff was substantially successful.

Judgment
The court ruled in favor of the Bank of Montreal, affirming the debt amount of $352,490.79, subject to interest determined through further submissions.