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ARTICLE · 27 SEPTEMBER 2012

Fully Secured @ Gowlings: September 26, 2012 - Volume 3, Number 3

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A recent British Columbia Supreme Court case illustrates the dangers posed by a technical loophole in the British Columbia Personal Property Security Act

CanadaFinance and Banking
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Edited by Richard Dusome

In this issue:

  • Mistaken Discharge and Loss of Priority Remedied By Equity (British Columbia)
  • Spotlight on Security Documents: The Tenant's Acknowledgement / Estoppel Certificate (Alberta)
  • Guarantees Included Within Mortgages Entitled to Longer Limitation Period in Ontario
  • Update on Ontario PPSA Computer Conversion
  • A Banker Asked Us: Making Guarantors Parties to the Loan Agreement


Mistaken Discharge and Loss of Priority Remedied By Equity (British Columbia)

By: Jonathan B. Ross (Vancouver) and Lorena Vlad* (Vancouver)

A recent British Columbia Supreme Court case illustrates the dangers posed by a technical loophole in the British Columbia Personal Property Security Act ("PPSA") and, at the same time, provides some hope for secured creditors who may have fallen victim to the loophole—losing their registered security interest through no fault of their own.

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