Royal Financial institution is suing former Hab Alex Galchenyuk over mortgage default

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The Royal Financial institution of Canada is suing former Montreal Canadiens participant Alex Galchenyuk for almost $400,000 plus curiosity for defaulting on his financial institution mortgage.

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In an software to institute proceedings submitted to Quebec Superior Courtroom in Montreal on July 20, legal professionals for the Royal Financial institution state that the “defendant is in default underneath the phrases and situations of the mortgage in that he didn’t make some funds, and the default has not been cured as of at this time.”

The whole quantity of the mortgage, which was first taken out in June 2014, is US$299,466.88, slightly below $400,000 in Canadian funds.

The financial institution states that on April 18, Galchenyuk was served a Discover of Forfeiture of the Good thing about the Time period, asking that the mortgage, which at present has a primary fee of seven.2 per cent, be paid.