September 21, 2022
The Court of Appeal for Ontario’s decision in Thermal Exchange Service Inc. v. Metropolitan Toronto Condominium Corporation No. 1289 has led to significant changes in the construction industry.
In an article that discusses the slow payment of invoices, the Journal of Commerce quoted a Torys insight written by partner Jeremy Opolsky and associates Julie Lowenstein and Norman Chung.
Read: “Working on it”: Court of Appeal confirms promises to pay can toll limitation periods
The Torys team wrote: “The court held that, in some cases, a debtor’s promise that it is working on paying a debt may toll the creditor’s limitation period until the debtor either refuses to pay or disclaims responsibility for payment because the creditor has not discovered that a claim exists.”
The Journal of Commerce also reported that the question of when the limitation clock for a claim for outstanding debt begins to run will depend on the specific facts of the parties’ business relationship.
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