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ARTICLE · 06 FEBRUARY 2020

RSLA – Getting The Structure Right

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The recent Ontario Superior Court of Justice (Toronto Small Claims Court) case of Prefera Finance Ltd. v. Eden Park Inc. is a helpful case in understanding how the Repair ...

CanadaFinance and Banking
Jonathan Fleisher
Jonathan Fleisher
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The recent Ontario Superior Court of Justice (Toronto Small Claims Court) case of Prefera Finance Ltd. v. Eden Park Inc. is a helpful case in understanding how the Repair and Storage Liens Act R.S.O. 1990, c. R. 25 (the RSLA) works. It also highlights what financial structures can be used by third-party finance companies with the benefit of the RSLA. While the case itself is unremarkable in its result, it does highlight specific matters that can often be misunderstood.

Facts

The facts are relatively simple. A customer (the Customer) entered into a sale finance contract with Eden Park Inc. (Eden Park) with respect to a vehicle. The Customer desired to acquire snow tires and chose to finance the acquisition of these tires from a tire vendor (the Dealer). The Dealer entered into a finance agreement with the Customer which provided for the payment of the tires over time by the Customer. The Dealer, to protect its financial interest, registered a non-possessory lien

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