Isabelle Eckler

The defendants brought a motion to strike the plaintiff's statement of claim, which alleged oppression and breach of good faith by the individual directors and officers in relation to a share purchase agreement.

The defendants argued the plaintiff lacked standing as the conduct occurred before it became a shareholder, and that insufficient facts were pleaded to attract personal liability.

The court dismissed the motion to strike, finding the plaintiff had standing as a beneficial shareholder and that the pleadings sufficiently alleged the defendants' personal involvement and benefit.

The court also granted the plaintiff's motion to consolidate the action with a related proceeding against the corporate defendants.

The plaintiff purchaser brought a motion for judgment against the defendant vendors for breach of an agreement of purchase and sale for seven apartment buildings.

The defendants failed to discharge mortgages on title prior to closing, breaching the agreement.

The plaintiff sought damages for sunk costs and over $56 million for lost capital appreciation, based on the defendants' subsequent sale of the properties 2.5 years later.

The court awarded the sunk costs but dismissed the claim for lost profits, holding that damages must be assessed at the closing date and that the plaintiff, an international real estate investor, had mitigated its losses by deploying its funds elsewhere.