Tag Archive: mortgage

Banks are Prohibited by PIPEDA from Disclosing Mortgage Balance to Judgement Creditor of Mortgagor

by Barbara McIsaac, Q.C., and Nadia Effendi of Borden Ladner Gervais LLP

Introduction

On January 6, 2011, the Ontario Court of Appeal released a decision affirming the decision of the Ontario Superior Court of Justice concluding that the Personal Information Protection and Electronic Documents Act, S.C. 2000, c. 5 (PIPEDA) prohibited a financial institution from disclosing the mortgage discharge statement of a mortgagor to a third party creditor.1

This decision is important, as it confirms that financial institutions cannot disclose financial information about one of their customers without the consent of that customer, unless one of the exceptions in PIPEDA allowing disclosure without consent applies.

Case Comment: Grant Estate et al. v. MICC [On making demand and collateral mortgages]

By Sam Billard of Aird & Berlis LLP

The Grant Estate case [312 D.L.R. (4th) 366 (R.S.O. 1990 C.L.15)] is, on its face, a decision relating to the Limitations Act (R.S.O. 1990 C.L.15) of Ontario which has since been replaced and so is of little interest. However, it is a sensible commercial judgment by the Ontario Court of Appeal of the sort we like to see. It makes a couple of points that affirm assumptions many have made about how the law works or should work, and is of some interest for that reason.