Respondent
Petitioner
Introduction:
The case involved GC Capital Inc. (formerly 1162143 B.C. Ltd.) as the judgment creditor and multiple respondents, including 1161359 B.C. Ltd., Cameray Garden Holdings Ltd., and Helen Chan Sun. GC Capital sought enforcement of a judgment stemming from a $4.5 million loan default secured by a mortgage and personal guarantees.
Background:
In 2018, GC Capital issued a $4.5 million loan to the mortgagors, guaranteed by Helen Chan Sun and others. Following default, foreclosure proceedings resulted in a judgment of $5,332,811.87 plus interest. A 2021 settlement agreement required Ms. Sun to pay $5,677,159.03 in installments. She paid $3 million but stopped payments in 2022.
Legal Arguments/Issues:
GC Capital sought a payment order of $300,000 per month, arguing Ms. Sun had sufficient assets, including an $18 million shareholder loan owed to her. Ms. Sun argued financial hardship due to liquidity issues and proposed payments of $3,000 per month. The court examined whether Ms. Sun had the means to pay the judgment, scrutinizing her finances, lifestyle, and assets.
Disposition:
The court ordered Ms. Sun to pay $300,000 per month starting February 15, 2025, until the debt was paid in full. The parties disputed the interest rate applicable, which was deferred for resolution in foreclosure chambers. GC Capital also received costs calculated on Scale B, amount undisputed.
Total Award:
The judgment amount stood at approximately $5,332,811.87 plus interest, with GC Capital prevailing. Costs were granted on Scale B.
Court
Supreme Court of British ColumbiaCase Number
H190537Practice Area
Civil litigationAmount
$ 5,332,812Winner
PetitionerTrial Start Date
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