Royal Bank of Canada v. Slopen (2011)
Royal Bank of Canada v. Slopen, 2011 ONCA 516
Ontario Court of Appeal
July 12, 2011
Milton Davis and co-counsel Tom Curry of Lenczner Slaght Royce Smith Griffin LLP were successful in the Court of Appeal in upholding the trial judge’s decision which held a solicitor liable for negligence as a result of failing to register a valid mortgage on a property. In reaching its decision, the Court of Appeal affirmed the right to recover compound interest on the damage award at the mortgage rate, thereby reversing a trend in professional negligence cases, which previously granted only simple interest at the lesser rate provided by the Courts of Justice Act.