National Bank of Canada v. Atomic Slipper Co.

[1991] 1 SCR 1059 Court SCC Decision date 1991-05-16 Docket 21177, 21190 English

PartiesNational Bank of Canada Appellant·Atomic Slipper Co. Ltd. and Gabriel Tardi Respondents·Registrar of the Montréal Registration Division Mis en cause·Canadian Bankers' Association Intervener·Atomic Slipper Co. Ltd. and Gabriel Tardi Appellants·National Bank of Canada Respondent

Judges Lamer, Antonio; La Forest, Gérard V.; Gonthier, Charles Doherty; Stevenson, William; Iacobucci, Frank

Decision Majority (5) · Judgment of the Court

On appeal from Quebec

Subjects Civil procedure Financial institutions

Contents

Majority

English version of the judgment of the Court delivered by

Judgment of the Court

Was Atomic in default to the Bank?

Was the Bank entitled to take possession of the inventory without first obtaining judicial authorization?

What is the amount for which Atomic and Tardi are entitled to be credited by the Bank for the value of the inventory?

Are Atomic and Tardi entitled to be compensated for the damage alleged, namely loss of profit, damage to reputation, hardship and inconvenience?

What disposition should be made of the entirely new claims by Tardi?

Footnotes

[1] * Judgment in rectification (1988), 21 Q.A.C. 54.