• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • FR
Background Image
Bennett Jones Logo 100 Years
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events
New Energy Economy Series Business Law Talks Podcast Economic Outlook
ESG & the CIO Subscribe
Bennett Jones Centennial Menu
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 
Blog

Limitation Law and the Enforcement of Credit and Security Agreements

October 09, 2018

Supreme Court of Canada Dismisses Leave to Appeal in Leatherman v 0969708 BC Ltd.

Written By Denise Bright and David Gruber

In June 2018, we wrote on the British Columbia Court of Appeal decision in Leatherman v 0969708 BC Ltd, 2018 BCCA 33, where the court considered sections 14 and 15 of the "new" Limitation Act, SBC 2012, c. 13 in the context of a loan and related security.

The Court held that the limitation period to realize on the security and some interest had expired, unless postponed as the limitation period commenced on default (the trigger for realization) not demand of the related loan. However, the ability to sue on the debt (and some interest) was not limitations barred as the limitation period for an action to recover the mortgage principal began to run the first day after the formal demand. The matter of postponement was remitted to the British Columbia Supreme Court for reconsideration.

On October 4, 2018, the Supreme Court of Canada dismissed the leave to appeal of the British Columbia Court of Appeal's decision.

While any case is fact-specific, lenders should carefully consider the type of loan they have advanced (demand v. term) and when realization on any security is permitted when assessing limitation periods.

At Bennett Jones, we have considerable experience with credit and security agreements and the enforcement thereof and would be pleased to assist in the drafting of loan and security documents and the enforcement thereof.

Download PDF

Authors

  • Denise D. Bright Denise D. Bright, Partner
  • David E. Gruber David E. Gruber, Partner

Celebrating our Centennial Chronicle

Related Links

  • Insights
  • Media
  • Subscribe

Recent Posts

Blog

Field Notes: Recent Pesticide Initiatives in Canada

January 26, 2023
       

Blog

Canada Border Services Agency Publishes Update of [...]

January 25, 2023
       

Blog

Balancing Act: Facilitating Trade and Worker Protection [...]

January 18, 2023
       

Blog

Accounting for Oil and Gas Revenues Without an Operating Agreement

January 10, 2023
       

Blog

Ontario Court of Appeal Considers Interpretation of [...]

January 09, 2023
       
Bennett Jones Centennial Footer 100 Years
Bennett Jones Centennial Footer 100 Years
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones