{"id":1205,"date":"2021-12-31T13:47:52","date_gmt":"2021-12-31T17:47:52","guid":{"rendered":"http:\/\/limitations.ca\/?p=1205"},"modified":"2021-12-31T13:48:04","modified_gmt":"2021-12-31T17:48:04","slug":"ontario-the-limitations-act-applies-a-to-proceeding-to-enforce-a-security-interest-in-fixtures","status":"publish","type":"post","link":"http:\/\/limitations.ca\/?p=1205","title":{"rendered":"Ontario: the Limitations Act applies a to proceeding to enforce a security interest in fixtures"},"content":{"rendered":"

The Superior Court decision in\u00a0Grant Thornton Limited, as Court-appointed Receiver v. 1902408 Ontario Ltd. <\/em><\/a>holds that a claim to enforce a charge and security interest in fixtures is subject to the Limitations Act and not the Real Property Limitations Act.<\/p>\n

The creditor argued that a claim to enforce its charge and security interests in fixtures involved a direct interest in real property and was therefore subject to the limitation period on s. 23(1) of the RPLA<\/a>.\u00a0 The creditor reasoned that at common law, fixtures are part of real property. The court rejected this argument.\u00a0 The creditor\u2019s security agreement with the debtor was governed by the PPSA<\/a>, which applies to fixtures. Properly characterised, the claim was to enforce and realise on a security interest in personal property under the PPSA:<\/p>\n

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[<\/a>32]\u00a0\u00a0 \u00a0\u00a0 \u00a0\u00a0 \u00a0\u00a0I conclude that Sluyter\u2019s claim to enforce its charge and security interest in the Fixtures is not to recover money secured by a mortgage or lien on land, or otherwise charged upon or payable out of land. Sluyter\u2019s claim is not subject to the ten year limitation period provided for by the\u00a0RPLA<\/a><\/i>. Sluyter\u2019s claim is to enforce and realize on a security interest in personal property under the\u00a0PPSA<\/a><\/i>. This claim is subject to the two year limitation period in the\u00a0Limitations Act, 2002<\/span><\/i>. Sluyter had not commenced proceedings to enforce its rights under the GSA by August 29, 2018, the second anniversary of the date when payment of the secured indebtedness was due. Sluyter\u2019s claim is statute barred.<\/p>\n<\/blockquote>\n<\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

The Superior Court decision in\u00a0Grant Thornton Limited, as Court-appointed Receiver v. 1902408 Ontario Ltd. holds that a claim to enforce a charge and security interest in fixtures is subject to the Limitations Act and not the Real Property Limitations Act. The creditor argued that a claim to enforce its charge and security interests in fixtures … Continue reading Ontario: the Limitations Act applies a to proceeding to enforce a security interest in fixtures<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[630,631,633,632],"class_list":["post-1205","post","type-post","status-publish","format-standard","hentry","category-ontario","tag-fixtures","tag-ontario-real-property-limitations-act-s-231","tag-personal-property-security-act","tag-ppsa"],"_links":{"self":[{"href":"http:\/\/limitations.ca\/index.php?rest_route=\/wp\/v2\/posts\/1205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/limitations.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/limitations.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/limitations.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/limitations.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1205"}],"version-history":[{"count":3,"href":"http:\/\/limitations.ca\/index.php?rest_route=\/wp\/v2\/posts\/1205\/revisions"}],"predecessor-version":[{"id":1208,"href":"http:\/\/limitations.ca\/index.php?rest_route=\/wp\/v2\/posts\/1205\/revisions\/1208"}],"wp:attachment":[{"href":"http:\/\/limitations.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/limitations.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1205"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/limitations.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}