2069586 Ontario Inc. v. Sovereign General Insurance Company

canada, canadian, case law, court opinion, canlii, onca, 2026onca655, 2026 onca 655 (canlii), 2026, onca, 655, (canlii), coa-25-cv-1164, 2026, insurance, errors and omissions policy, fraud endorsement, mortgage brokerages, lenders and administrators act, 2006, mortgage brokerages: standards of practice, o. reg. 188/08, dishonest or fraudulent act coverage for “failure to advance or secure mortgage funds”, trust funds treated as mortgage, related funds, exclusions for fraud and custody addressed, appeal allowed, summary judgment to appellants, contracts, interpretation, insurance contract, meaning of “mortgage funds”, whether trust money paid as a condition of mortgage financing is “mortgage funds”, “failure to advance or secure mortgage funds” read as encompassing loss, ordinary meaning of “secure” applied, endorsement given meaningful effect, coverage confirmed, statutory interpretation, regulatory context, mandatory insurance requirements, whether mortgage brokerages act regime and e&o guidelines form relevant surrounding circumstances, presumption of intent to comply with regulatory obligations, mortgages act definition of “mortgage money” rejected as different context, policy read to avoid conflict with regulation, regulatory, consistent interpretation adopted, procedure, summary judgment, appellate disposition, whether coverage dispute suitable for summary judgment, material facts largely undisputed, issue is legal meaning of policy, no basis to remit for trial once endorsement properly interpreted, respondent required to “put its best foot forward” on the motion record, summary judgment granted for appellants, respondent’s summary judgment set aside