A payment made to an apparent creditor is valid when the latter acts as the creditor’s representative in taking in payment proceedings

Par Robert Di Niro The Superior Court, in Gestion Nicotec Inc. v. D’Agostino, 2014 QCCS 5193, was asked to decide whether the plaintiff’s motion for forced surrender and taking in payment of two immovable properties, hypothecated in its favor as security for a loan advanced to the defendants, was justified. Prior to answering this question, the Court was asked to decide whether the capital of the loan had been paid by the defendants. The latter claim they made the payment to the plaintiff’s representative. The facts are as follows. Giacomo D’Agostino (the defendant) was embarking in the business of exporting luxury cars to the Middle East and required financing. He approached a family friend (Ugo Celli) who along with Mr. Luigi Santoro owned Sentra Inc., a company involved in money lending and financial transactions. Mr. Santoro is also the shareholder of Nicotec, the plaintiff in the present case. Giacomo managed… Lire la suite