In terms of the contractual rights/obligations explicitly stated in the lease/VIA, it is true that Northmont has assumed those obligations/rights. But Northmont did not assume any of liabilities of Fairmont. The court explicitly states this in para 161 of the JEKE v Northmont
[161] The Foreclosure Agreement also specifically addressed which Fairmont liabilities were being assumed, or more importantly, not being assumed. The following definition from the Foreclosure Agreement applies: “Fairmont Retained Liabilities" means each and every obligation, indebtedness (Including all of the debt obligations, trade payables and other liabilities related to the ownership or operation of the Fairmont Foreclosed Assets, to Fairmont or to the Fairmont Business) or other liability or accrued liability of Fairmont and whether existing or contingent, in tort or by way of any contract, permit, licence or other agreement, any deed or instrument, any judgement order of a court or other authority having jurisdiction, any statute, regulation, order-in-council, bylaw, policy or other decision of act of any Authority, any rule or operation of law or in any other way arising, whether similar to any of the foregoing or otherwise, but excludes any liabilities expressly assumed by the Creditor pursuant to section 2.3(c). (para. 1.1(zzz))
