The plaintiff brought a motion to set aside the dismissal of an action arising from Minutes of Settlement regarding a failed partnership investment.
The settlement required arbitration to conclude by March 31, 2012, but the parties continued to negotiate and schedule arbitration dates well past this deadline.
When the defendants retained new counsel in 2016, they argued the arbitrator was not properly appointed and the deadline had passed.
The court applied the doctrine of promissory estoppel, finding the defendants' conduct impliedly promised not to rely on the strict limitation period.
The motion was granted, the dismissal was set aside, and partial indemnity costs were awarded to the plaintiff.
