Ontario Court of Appeal orders borrower to pay $326,500 balance of lender fee despite failed loan

By Karunjit Singh (April 10, 2024, 3:47 PM EDT) -- The Ontario Court of Appeal has ruled that a commercial developer must pay $326,500 in lender fees for a failed loan transaction, overturning a lower court decision that the lender was not entitled to the amount since it was payable under an unenforceable penalty clause....