Is there any case law where the limitation period to start a new action has run out?

However, I agree with Bielby J.'s observation in Bank of Montreal v. Grotski (supra) where, in considering the decision of Conrad J., she states at p. 52: … the Court was prepared to assume that delay prejudiced guarantors because of the uncertainty over potential liability which was introduced by fluctuating market prices and the increase in the deficiency. However, that assumption was obiter because leave was nonetheless granted because the limitation period to start a new action had not run in that case.