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The Positron Decision Facts (continued): - One of the convertible debentures is secured by a hypothec granted by notarial act en minute in favour of a fondé de pouvoir. - Other debenture is alleged to be secured by deed under private signature in favour of Quorum. - Counsel to Quorum had issued opinions to the effect that both were valid and enforceable. 38
The Positron Decision Facts (continued): - Special counsel to Quorum, a noted expert and author, argued before the Court that article 2692 CCQ does not apply when there is only one creditor, claiming that in such circumstances having a fondé de pouvoir is useless. - The Court is quick to point out to that this position differed from the one taken by such counsel in his seminal work on real security. 39
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