Can a bank discharge a financing statement under the Public Prosecutions Act?
Ontario, Canada
The following excerpt is from Sekulovski v. Georgiou, 2022 ONSC 1819 (CanLII):
In MBNA Canada Bank v. Luciani, 2011 ONSC 6347, the respondent registered a financing statement under the PPSA against the applicant bank claiming a security interest in respect of an obligation by the bank to him. The bank demanded that the respondent discharge the financing statement and the applicant responded saying that he would do so provided the bank extended a credit line to his wife and him. The bank refused and moved for an order discharging the financing statement registration.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
How have courts dealt with the issue of pre-trial publicity during a public inquiry? (Ontario, Canada)
Can a statement in a Statement of Claim be an admission? (Ontario, Canada)
In what circumstances will a landlord be held liable for failing to protect the public from the danger to which the public has been exposed? (Ontario, Canada)
Is restatement of its financial statements an acknowledgment by the company that it has made material misrepresentations in relation to its audited financial statements valid for a cause of action? (Ontario, Canada)
What is the difference between a police statement and a SCAN statement? (Ontario, Canada)
What is the test for granting leave for the issuance of a Certificate of Public Prosecutions? (Ontario, Canada)
Can the Commissioner of Public Prosecutions force a city council to approve an expenditure which has not been approved? (Ontario, Canada)
Are statements in a public document admissible as an exception to the rule against hearsay? (Ontario, Canada)
What are some cases where a conditional discharge or absolute discharge has been given in the domestic sphere? (Ontario, Canada)
What is the predominant purpose of a disused public space where there is a large majority of the public is not allowed to enter? (Ontario, Canada)
