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Creditor’s undisclosed billing practices don’t void loan guarantee, B.C. Appeal Court rules

Tuesday, July 17, 2018 @ 12:16 PM | By Ian Burns

The British Columbia Court of Appeal has ruled that a finance company did not fraudulently misrepresent itself in dealing with a woman who was a guarantor of a loan to her husband’s trucking company.

Cynthia LeRoy was a guarantor of a loan by Century Services Co. to Ted LeRoy Trucking Ltd. (TLT), a company owned by her husband in which she was an employee. The loan included a limited recourse guarantee secured by a mortgage on the LeRoys’ residence, which said Cynthia LeRoy would guarantee the...