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The court dismissed an appeal of an arbitral award determining the fair market value of land for a ground lease rent reset, finding no extricable errors of law.
The court considered an application by Place Laurier Limited for leave to appeal an arbitration award regarding the fair market value of land subject to a ground lease.
The applicant argued the arbitrator failed to apply the correct legal test for determining the highest and best use of the land and did not provide sufficient reasons for the valuation.
The court found that while some issues raised extricable questions of law, the arbitrator had not erred in law and provided sufficient reasons.
The appeal was dismissed.
