responding application record of respondents, nadeem ... · court file number: cv-19-616261-00cl ....
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Court File Number: CV-19-616261-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
COMMERCIAL LIST
IN THE MATTER OF SECTION 60 OF THE TRUSTEE ACT, R.S.O. 1990, C. T.23, AS AMENDED, AND RULE 10 OF THE ONTARIO RULES OF CIVIL PROCEDURE,
R.R.O. 1990, REG. 194, AS AMENDED
AND IN THE MATTER OF HI-RISE CAPITAL LTD. AND IN THE MATTER OF ADELAIDE STREET LOFTS INC.
RESPONDING APPLICATION RECORD OF THE RESPONDENTS, NADEEM GHORI AND UZMA GHORI
April 11, 2019 RORY MCGOVERN PC 133 Richmond Street West, Suite 200 Toronto, ON M5H 2L3
Rory P. McGovern (LSO #: 65633H) Tel: 416-938-7679 Fax: 647-559-9694 [email protected]
GUARDIAN LEGAL CONSULTANTS LLP 133 Richmond Street West, Suite 200 Toronto, ON M5H 2L3
Jasdeep Singh Bal (LSO #: 62102A) Tel: 647-983-3309 Fax: 647-499-4307 [email protected]
Daniel Perlin (LSO #: 64194G) Tel: 647-983-3310 Fax: 647-499-4307 [email protected]
Lawyers for the respondents, Nadeem and Uzma Ghori
TO: CASSELS BROCK & BLACKWELL LLP Scotia Plaza, 40 King Street West, Suite 2100 Toronto, ON M5H 3C2
John N. Birch (LSO #: 38969U) Tel: 416-860-5225 Fax: 416-640-3057 [email protected]
Stephanie Voudouris (LSO # 65752M) Tel: 416-860-6617 Fax: 416-642-7145 [email protected]
Lawyers for the applicant, Hi-Rise Capital Ltd.
AND TO: THORNTON GROUT FINNIGAN LLP Toronto-Dominion Centre, 100 Wellington Street West, Suite 3200 Toronto, ON M5K 1K7
John L. Finnigan (LSO #: 24040L) Tel: 416-304-0558 Fax: 416-304-1313 [email protected]
Lawyers for the respondent, Superintendent of Financial Services
AND TO: MILLER THOMPSON LLP Scotia Plaza, 40 King Street West, Suite 5800 Toronto, ON M5H 3S1
Jeffrey Carhart (LSO #: 23645M) Tel: 416-595-8615 Fax: 416-595-8695 [email protected]
Gregory Azeff (LSO #: 45324C) Tel: 416-595-2660 Fax: 416-595-8695 [email protected]
Stephanie De Caria (LSO #: 68055L) Tel: 416-595-2652 Fax: 416-595-8695 [email protected]
Representative Counsel
AND TO: MCCARTHY TETRAULT LLP TD Bank Tower, 66 Wellington Street West, Suite 5300 Toronto, ON M5K 1E6
Geoff R. Hall (LSO #: 34701O) Tel: 416-601-7856 Fax: 416-868-0673 [email protected]
Lawyers for Adelaide Street Lofts Inc.
AND TO: YUNUSOV LAW PROFESSIONAL CORPORATION 330 Bay Street, Suite 1400 Toronto, ON M5H 2S8
Pulat Yunusov (LSO # 60014U) Tel: 416-628-5521 Fax: 647-933-1171 Email: [email protected]
Lawyer for the Respondent, David Pozo
RCP-E 34A (July 1, 2007)
Court File Number: CV-19-616261-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
COMMERCIAL LIST
IN THE MATTER OF SECTION 60 OF THE TRUSTEE ACT, R.S.O. 1990, C. T.23, AS AMENDED, AND RULE 10 OF THE ONTARIO RULES OF CIVIL PROCEDURE, R.R.O. 1990, REG. 194, AS
AMENDED
AND IN THE MATTER OF HI-RISE CAPITAL LTD. AND IN THE MATTER OF ADELAIDE STREET LOFTS INC.
RESPONDING APPLICATION RECORD OF THE RESPONDENTS, NADEEM GHORI AND UZMA GHORI
INDEX
Tab Page No.
1 Affidavit of Nadeem Mohammed Ghori sworn April 11, 2019 ..........................................1 A Exhibit A to the Affidavit of Nadeem Mohammed Ghori– Trust Agreement…………….4
TAB 1
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4. I have been advised by my lawyers, Rory McGovern, Jasdeep Bal and Daniel Perlin (the
“Lawyers”) that the Trustee had originally advised investors that it would be providing offers to
investors on March 29, 2019. To date, I have not received any offer from the Trustee in respect of
my investment.
5. I have also been advised by my Lawyers that the current process that is being proposed by
the Trustee will affect the rights I have under the Trust Agreement. My understanding of the Trust
Agreement is that the Trustee is required to pay all of the principal and interest amounts owed to
me prior to the discharge of the mortgage registered by the Trustee against Adelaide.
6. I am concerned that if this application is successful that my rights under the Trust
Agreement will be altered without my consent and without the benefit of reviewing information
related to how the trust funds were managed by the Trustee.
7. I have also been advised by my Lawyers that the Trustee is seeking to secure the legal fees
it owes to its lawyers by registering a charge against Adelaide which will be in priority to all other
interests with the exception of the existing first mortgage in favour of Meridian Credit Union
Limited (the “Cassels’ Charge”).
8. I do not know how much the Trustee has spent on legal fees to date nor do I know the
current value of the Trustee’s lawyers’ work in progress. As such, I do not know what the value
of the Cassels’ Charge would be and how it would affect the recovery of any funds that would be
payable to myself and the other beneficiaries under the trust agreements. I would like to know this
information prior to Cassel’s Charge being registered against Adelaide and affecting my rights.
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EXHIBIT A
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HI-RISE CAPITAL LTD. -and- SUPERINTENDENT OF FINANCIAL SERVICES et al. Applicant Respondents
Court File No. CV-19-616261-00CL
ONTARIO
SUPERIOR COURT OF JUSTICE
PROCEEDING COMMENCED AT TORONTO
AFFIDAVIT OF NADEEM MOHAMMED GHORI
SWORN APRIL 11, 2019
RORY MCGOVERN PC 133 Richmond St. West, Suite 200 Toronto, ON M5H 2L3
Rory P. McGovern (LSO# 65633H) Tel: 416-938-7679 Fax: 647-559-9694 [email protected] GUARDIAN LEGAL CONSULTANTS LLP 133 Richmond St. West, Suite 200 Toronto, ON M5H 2L3 Jasdeep S. Bal (LSO #62102A) Tel: 647-983-3309 Fax: 647-499-4307 [email protected] Daniel Z. Perlin (LSO #64194G) Tel: 647-983-3310 Fax: 647-499-4307 [email protected]
Lawyers for the respondents, Nadeem and Uzma Ghori File Number:
RCP-E 4C (May 1, 2016)
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HI-RISE CAPITAL LTD. -and- SUPERINTENDENT OF FINANCIAL SERVICES et al.Applicant Respondents
Court File No. CV-19-616261-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
PROCEEDING COMMENCED AT TORONTO
RESPONDING APPLICATION RECORD OF THE RESPONDENTS, NADEEM GHORI AND UZMA
GHORI
RORY MCGOVERN PC 133 Richmond St. West, Suite 200 Toronto, ON M5H 2L3
Rory P. McGovern (LSO# 65633H) Tel: 416-938-7679 Fax: 647-559-9694 [email protected]
GUARDIAN LEGAL CONSULTANTS LLP 133 Richmond St. West, Suite 200 Toronto, ON M5H 2L3
Jasdeep S. Bal (LSO #62102A) Tel: 647-983-3309 Fax: 647-499-4307 [email protected]
Daniel Z. Perlin (LSO #64194G) Tel: 647-983-3310 Fax: 647-499-4307 [email protected]
Lawyers for the respondents, Nadeem and Uzma Ghori File Number: 00011
RCP-E 4C (May 1, 2016)