Business Development Bank of Canada v. 2332197 Ontario Inc. and Khan
Facts: The Business Development Bank of Canada sought summary judgment against 2332197 Ontario Inc. and Samina Khan for an unpaid loan of $57,838.58 plus interest. Khan, the guarantor, claimed misunderstanding her liability and disputed personal responsibility due to alleged misrepresentations by the plaintiff.
Issues/Main Discussion: The case's core issue was whether Khan was misled about her liability as a guarantor, impacting her responsibility for the corporate debt.
Ruling: The court granted summary judgment in favor of the plaintiff, finding Khan liable as a guarantor. It concluded Khan was not credible in her defense that she was misled about her liability.
Amount Awarded: Khan and 2332197 Ontario Inc. were ordered to pay $57,838.58 plus pre-judgment interest at 7.55% per annum from November 11, 2023, to the judgment date.
