Event and Time
Event Description
This case involves a loan agreement between the plaintiff, Secure Funding, and the first defendant, Torbeckin. Secure Funding claims that Torbeckin has defaulted on payments due under the loan agreement. The second and third defendants, Jeremy Rowell and Rodney Rowell, are alleged to be guarantors for Torbeckin. The case also addresses Jeremy's application for leave to file a defence and counterclaim on behalf of Torbeckin, which was dismissed by the court.
Application and Claims
- Plaintiff's Claims:
- Payment of the loan amount of $1,870,836.72 as of 21 June 2023. - Accrued interest of $763.71 per day since 22 June 2023. - Recovery of possession of the Richmond property secured under the mortgage. - Legal costs incurred.
- Defendant's Position:
- Jeremy sought leave to file a defence and counterclaim on behalf of Torbeckin.
Judicial Decisions
- The court dismissed Jeremy's application for derivative leave on 19 September 2024.
- The court granted Secure Funding's application for judgment in default of defence against Torbeckin, allowing Secure Funding to recover possession of the Richmond property.
Dispute Points and Legal Basis
Dispute Points
- Secure Funding:
- Claims Torbeckin defaulted on the loan agreement. - Argues it is entitled to judgment based on the defaults and the provisions of the loan agreement.
- Jeremy Rowell:
- Claims that the conduct of Rodney and the liquidators led to the necessity of his summons. - Alleges misconduct on the part of Secure Funding and Rodney, affecting the rights of other stakeholders. - Challenges the appropriateness of the cost orders and claims premature adjudication of fraud allegations.