Subrogation (David Stevens, 10 Nov 1997)

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Sender:	David Stevens
Date:	Mon, 10 Nov 1997 14:33:30
Re:	subrogation

There are three recent decisions of the Ontario court of Appeal on equitable subrogation reported in vol 34 O.R (3rd) at 583, 594 and 599. They were heard together. All involved creditors who had lent intending to take the rank of a prior secured lender, but failing to do so due to a lawyer's error. In two of the three the creditors succeeded in its equitable subrogation claim. See, respectively, Re Mutual Trust Company and Credtiview Estate Homes Limited, Re Midland Mortgage Corporation and 784401 Ontario Ltd. et al., Re Armatage Motors Limited and Royal Trust Corporation of Canada et al FYI from Canada.

David Stevens
Faculty of Law
McGill University
3644 Peel Street
Montreal, Canada
H3A 1W9
514-398-6636

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