This application concerned a dispute over an earn-out calculation following a share purchase agreement.
The applicant sought an order compelling the respondents to refer the dispute to KPMG, as stipulated in the agreement.
The respondents argued the applicant's notice of objection was untimely and lacked particularity, and that the objections raised were contractual, not accounting, issues.
The court found the applicant's notice was timely, given the need for additional financial information, and that the objections, properly interpreted, fell within the scope of the expedited dispute resolution process.
The application was allowed, and the dispute was ordered to be submitted to KPMG.
Costs were not awarded to the successful applicant due to her role in protracting the process.