H. Maltz

This was a costs endorsement following a four-week trial on three discrete issues in a commercial dispute involving oil field valuation and investor interests.

The successful respondents sought full indemnity costs based on alleged misconduct and offers to settle.

The court rejected full and substantial indemnity costs, holding the conduct allegations did not justify elevated costs and that the respondents' offer was not a technically valid Rule 49 offer because it extended beyond the issues tried.

Exercising discretion, the court nonetheless awarded reduced partial indemnity fees and limited disbursements, including a reduced allowance for certain expert fees.

In supplementary reasons, the court addressed a post-judgment issue concerning currency conversion of previously awarded amounts.

The parties agreed that the amounts identified in two paragraphs of the original reasons should be calculated in US dollars and converted to Canadian dollars using an agreed Bank of Canada exchange rate of 1.166.

The court accepted the parties' consent calculations and amended the judgment accordingly.

The court declined to address other issues raised because they were outside the matters to be decided or constituted further argument on issues already determined.