Lawddities Disclosure Continued From Page 13
lot of substance to what is
material,” said Borszcz. “We now
have a much more nuanced
approach that adds a lot of col-
our to what’s already there.
That’s what makes it a very
important case for developers,
because it gives them the ability
in each individual case to have a
nuanced, contextual approach.” Legal Oddities in (Blank) Law
An oddity in
The SCC ruling will also likely
provide greater certainty for B.C.
developers drafting disclosure
statements — an exercise that
has been described as onerous, if
only because developers on large
projects often ended up having
to file several amendments to
their disclosure statements.
While it is not expected that
the SCC ruling will necessarily
lead to a chill in litigation taken
against developers, it will more
than likely make purchasers
think twice before suing real
estate developers for picayune
details. Purchasers will no longer
be able to bring these matters on
a summary basis, which involves
minimal introduction of evi-
dence, as they successfully did in
the past, said Lewis.
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Victims of a wrongful foreclosure lawsuit threatened to seize
the bank’s assets and sell off its
furniture at a public auction to
cover their outstanding legal fees.
Homeowners Warren and
Maureen Nyerges purchased
their house in Naples, Fla. in
2009 for US$165,000 without a
mortgage. The Bank of America
became convinced that the
couple had a mortgage and was
behind on their payments. It
dropped the charges two
months later after realizing its
error, but did not compensate
the Nyerges for their legal fees,
despite a court order, according
The Nyerges’ lawyer obtained
a writ of enforcement to seize the
bank’s assets and then walked in
with a moving crew, demanding
compensation. The bank soon
handed over a cheque for the outstanding amount. —Anum Lateef
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