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Ken McEwan, Q.C. and Craig Dennis, Q.C. lead successful defences for separate defendants in Oak Bay Beach Hotel case

On August 2 the B.C. Supreme Court issued combined reasons for judgment in two proceedings brought by common plaintiffs and heard at trial together over a period of eight months. The issues in the case concerned the interpretation of the Real Estate Development Marketing Act, breach of trust, knowing receipt and tracing of trust property, and the priority scheme under the Land Title Act. In one proceeding the defendant was Fasken Martineau DuMoulin LLP. Ken led the defence for Faskens, working with Claire Hunter of Hunter Litigation Chambers and Kelly Ann Maw of McEwan Partners. In the other proceeding the defendants were Metro-Can Construction Ltd. and REV Investments Inc. Craig (while at Dentons) led the defence for Metro-Can and REV, working with Dan Yaverbaum and Will Stransky of Dentons and Eric Aitken (also now of McEwan Partners). The plaintiffs were bond investors and real estate purchasers in the redevelopment of the iconic Oak Bay Beach Hotel. The plaintiffs’ theory was that funds they invested in mortgage-backed bonds constituted “deposits” under REDMA and as such the use of the funds to finance construction was a breach of trust. The court disagreed and dismissed all claims against both sets of defendants.

Bison Properties Ltd. (Re), 2018 BCSC 1299