The plaintiff brought a motion for summary judgment seeking repayment of $400,000 advanced to the defendant, and to dismiss the defendant's counterclaim for $813,000.
The court granted summary judgment for the $400,000 as the defendant admitted receiving the funds and owing the debt.
However, the court refused to dismiss the counterclaim, finding that the lack of written agreements and contradictory evidence regarding the defendant's remuneration and the share purchase created a genuine issue for trial.
The court stayed the enforcement of the $400,000 judgment pending the outcome of the counterclaim trial, as the defendant may be entitled to an equitable set-off.
