The appellants, suspected of defrauding the respondents of over US $71 million, entered into a settlement agreement requiring them to return assets in exchange for the respondents discontinuing various global civil proceedings.
The appellants brought a motion to compel the respondents to also withdraw Interpol Red Notices and discontinue criminal proceedings in Iran, or alternatively to set aside the settlement.
The motion judge dismissed the motion, finding the respondents only agreed to request the withdrawal of criminal proceedings, as they had no authority to unilaterally dismiss them.
The Court of Appeal upheld the motion judge's interpretation of the settlement agreement and dismissed the appeal.
