Brian Mark Studniberg

The plaintiffs sought to enforce an "Outline of Terms of Settlement" reached during mediation, arguing it constituted a binding agreement.

The defendants contended that the Outline was not intended to be enforceable and lacked essential terms.

The court found that the Outline did not objectively reflect a mutual intention to create a binding agreement and that numerous material issues, including debt reallocation, minority shareholder rights, and tax implications of asset transfers, remained unresolved.

The court dismissed the motion, emphasizing that it cannot create a contract for parties where essential terms are missing.

The applicants, current trustees of a trust, brought an urgent application concerning a real estate transaction closing that day, seeking relief related to the respondent's alleged former trustee status and his entitlement to ensure proper application of trust funds.

The respondent brought a counter-application.

The court denied the urgent relief sought by the applicants, finding their urgency self-induced and their approach tactical.

The judge emphasized that the complex issues deserved a fair airing on proper notice and that the applicants had the ability to resolve the matter to preserve the sale.

The court also acknowledged the respondent's legitimate concerns about potential personal liability as a former trustee and his right to due diligence.