The defendants, Quintet Ventures Inc. and related entities, brought a motion to stay the action in favour of arbitration, citing arbitration clauses in the Share Purchase Agreement and Shareholders Agreement.
The plaintiffs, Andrew Spasiw and Astute Ventures Ltd., opposed the motion, arguing that their claims of fraudulent misrepresentation and oppression, along with equitable remedies, fell outside the arbitration clauses, and that a stay would violate their Charter rights.
The court found the pith and substance of the plaintiffs' claims to be contractual, falling within the broad scope of the arbitration agreements.
The court rejected the plaintiffs' arguments regarding legal incapacity, invalidity of the agreement, non-arbitrability of the subject matter, undue delay, and alleged Charter violations.
The motion to stay the action was granted, and the plaintiffs were ordered to pay costs.