Background: This case involves a construction lien dispute between DNR Restoration Inc. and Trac Developments Inc. related to a residential condominium construction project in Toronto.

Key Issues:

1. Application of the new Construction Act to the project.
2. Timeliness of DNR's lien registration.
3. Reduction of posted security for DNR's claim.

Court's Decision:

1. The old Construction Act was found applicable to the project.
2. DNR's lien was not registered out of time, preserving its validity.
3. The court decided not to further reduce the posted security from the already conceded amount of $860,656.

Outcome: The court upheld DNR's lien claim and did not further reduce the posted security, demonstrating the complexity of construction lien matters and the importance of adherence to procedural timelines. No financial terms specified.