The appellants appealed an order dismissing their motion to set aside default judgments for $3.2 million obtained by the respondent.
The default judgments arose from a claim for indebtedness related to purchases in brokerage accounts and allegations of an unlawful stock manipulation scheme.
The appellants also brought a motion to adduce fresh evidence.
The Court of Appeal dismissed the appeal, finding that the motion judge properly applied the three-part test for setting aside a default judgment and that the appellants failed to adequately explain their delay or raise a triable defence.
The motion to introduce fresh evidence was also dismissed as it did not meet the Palmer test.