The plaintiffs, having previously succeeded in a damages claim for breach of a commercial lease, sought pre-judgment and post-judgment interest at the contractual lease rate of 18% per annum and costs on a substantial indemnity basis.
The defendants argued for the lower statutory interest rate, citing historical low market rates and potential windfall for the plaintiffs.
The court, relying on the Supreme Court of Canada's decision in *Bank of America Canada v. Mutual Trust Co.*, upheld the contractual interest rate, finding no special circumstances to override the parties' agreement.
The court also awarded costs to the plaintiffs as requested, fixed at $106,581, including disbursements and tax, based on their formal offer to settle.