2 total
The court allocated costs 70/30 between a successful fire loss claim and an unsuccessful wall collapse claim, awarding substantial indemnity costs to both successful parties based on their respective offers to settle.
This endorsement determines costs following a trial involving two consolidated insurance claims: a Wall Collapse Claim and a Fire Loss Claim.
The plaintiffs (Lalani) succeeded on the Fire Loss Claim against Intact Insurance, being awarded substantial damages, while their Wall Collapse Claim was dismissed.
A negligence claim against the Broker (D.M. Edwards and CG&B) related to the Fire Loss Claim was also dismissed.
The court allocated costs 70% to the Fire Loss Claim and 30% to the Wall Collapse Claim.
Lalani was awarded partial and substantial indemnity costs against Intact for the Fire Loss Claim.
No costs were awarded for the dismissed claim against the Broker due to their adversarial position and the nature of their offer to settle.
Intact was awarded partial and substantial indemnity costs against Lalani for the dismissed Wall Collapse Claim, based on a public policy objective of promoting settlements.
CIBC is liable for direct trading losses caused by its agent; lost profits are excluded.
The plaintiffs sued CIBC and Belzberg for breach of contract or negligence after a direct market access (DMA) system malfunctioned, causing significant error trades and the eventual shutdown of their hedge fund.
The court found CIBC prima facie liable, determining that Belzberg employees acted as CIBC's apparent agents when they negligently caused the malfunction.
The court rejected CIBC's broad contractual exclusion of liability for direct damages but upheld the exclusion for lost profits.
The plaintiffs were awarded direct trading losses, with no reduction for mitigation or contributory negligence, and punitive damages were denied.
