||In my opinion, he wrote this as if he was a school teacher marking a student's paper. There are pointed remarks of what the lawyer, and the lawyers, should have done.|
||The offers to settle. I wonder if the YCC #385 directors fully understood the risks of refusing the bank's settlement offers. The judge stated that both offers were very substantially advantageous to the condo corporation. Isn't getting half better than absorbing a total loss of perhaps $200,000 or more? (based on a rough estimate of loosing half of the proceeds from the unit plus paying the legal fees for both sides.)|
||It was interesting to read just how big a discount CIBC received from its law firm.|
||"The unit holders elect their managers and the conduct of litigation by
management is ultimately their responsibility."
This puts the onus on the owners to be aware of what decisions their board and management are making and to hold them accountable. For this to happen, condo boards need to inform the owners of what they are doing and I am confident that most condo boards fail to do so.
Alternatively, the owners must take the initiative to read the monthly board minutes in a timely manner and attend all owner meetings, or send a responsible proxy to represent them.
I am sure that the judge's opinion gives little comfort to condo owners who have a hell of a time getting their boards cooperation allowing them to examine the corporation's records although this decision may assist owners in the future getting the courts assistance in this regard.
||December 1, 2015, CIBC Costs Submission, (5 pp, exclusive of Outline
||On December 13, 2016, YCC Request to Reconsider, (2 pp plus 18 pages of attached cases readily available on line despite my request not to do so);|
||December 15, 2016, CIBC Addendum, (3 pp);|
||December 16, 2016, YCC Cost Submission, (14 pp submissions followed by 12 cases, plus copies of statutory authorities and dockets);|
||December 19, 2016, CIBC Reply Cost Submissions, (4 pp); and|
||December 20, 2016, YCC Reply to Reply, (3 pp).|