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BANKING - Loans - Loan commitments - Lines of credit

Wednesday, January 17, 2018 @ 8:45 AM  

Appeal by the plaintiff, Willowbrook Nurseries Inc., from a trial judgment dismissing its action for breach of the respondent’s obligation to perform a lending agreement in good faith. The respondent, Royal Bank of Canada (RBC), had lent money to the appellant since 2005. To satisfy the appellant’s seasonal financing needs, the respondent would agree to a temporary accommodation request (TAR) that allowed Willowbrook to temporarily exceed its $2.75 million line of credit each winter. The overdraft amount was set by the parties’ mutual agreement each fall...