2012 QCCQ 5746, 2012 QCCQ 5746

Banque de Nouvelle-Écosse c. Vrahas 2012 QCCQ 5746 COURT OF QUEBEC CANADA PROVINCE OF QUEBEC DISTRICT OF MONTREAL TOWN OF MONTREAL Civil Division No: 500-22-179839-116 DATE: April 25, 2012 ______________________________________________________________________ BY THE HONOURABLE MARIE MICHELLE LAVIGNE, J.C.Q. ______________________________________________________________________ LA BANQUE DE NOUVELLE-ÉC0SSE 3400, Boul. du Souvenir Laval (Quebec) H7V 3Z2 Plaintiff v.

TASIA VRAHAS […] Rosemère (Quebec) […] and IOANNIS PSAROUDIS […] Laval (Quebec) […] and GEORGIOS PSAROUDIS […] Laval (Quebec) […] Defendants ______________________________________________________________________ JUDGMENT RENDERED ORALLY ______________________________________________________________________ [ 1 ] Along with Tasia Vrahas and Georgios Psaroudis, the Bank of Nova Scotia ('the Bank") is suing the Defendant Ioannis Psaroudis. [ 2 ] The Bank claims from the three defendants the amount of their undertaking to pay the debts of the corporation 9199-8237 Québec Inc. [ 3 ] A settlement intervened between the Bank and Ioannis Psaroudis.

He paid to the Bank, the amount of $17,500.00. [ 4 ] Mr. Ioannis Psaroudis had sued Georgios Psaroudis and Tasia Vrahas in warranty. [ 5 ] He claimed that, following the sale of his shares, these defendants in warranty had undertook to release him from all debts and obligations that he had contracted for the benefit of the company 9199-8237 Québec Inc.

[ 6 ] The Sale of Shares Agreement (PW-3) has been produced. This document states at paragraph 6 the following: "The Purchaser states that Georgios Psaroudis personally hereby agrees to solidarily indemnify, hold harmless and defend the Vendor Ioannis Psaroudis from any claim which may arise from any such personal guarantee or undertaking given by the Vendor Mr. Ioannis Psaroudis and will compensate the Vendor for any legal fees incurred as a result of this." The terms of

Section 6 of this Sale of Shares Agreement are clear: Georgios Psaroudis should compensate Ioannis Psaroudis for the amount of $17,500.00 he disbursed for the debts of 9199-8237 Québec Inc. and the legal fees incurred. [ 7 ] The legal fees to this date total a sum of $4,529.14 as shown on the exhibit PW-4. [ 8 ] As for Tasia Vrahas, she has filed for bankruptcy (Exhibit P-8).

FOR THESE REASONS, THE COURT: GRANTS the claim of Ioannis Psaroudis; CONDEMNS Georgios Psaroudis to pay to Ioannis Psaroudis the amount of $22,029.14 bearing the legal interest plus a special indemnity as of the date of the Declaration in warranty THE WHOLE WITH costs. __________________________________ MARIE MICHELLE LAVIGNE, J.C.Q Me Peter F. Guarnieri TRUDEAU DUFRESNE 460 St-Gabriel, 6 th Floor Montreal (Quebec) H2Y 2Z9 Attorney for Plaintiff Me Helen Panorios 5255, Henri-Bourassa West, # 415 Montreal (Quebec) H4R 2M6 Attorney for Defendant Date of hearing: April 25, 2012