An investor that had acquired the rights of a bankrupt Indigenous‑owned technology company sued a software corporation for breach of contract arising from a failed strategic partnership.
The plaintiff alleged the defendant committed to invest $1.5 million and provide technological support but later withdrew, causing the company’s collapse.
The court found a binding agreement was formed through oral approval and a confirming letter, and that the defendant’s internal corporate approval issues did not negate the contract.
Alleged misrepresentations regarding finances, market size, and potential investors were rejected.
Applying a modified valuation based on projected business plans and discounting for risk, the court awarded damages for the lost business opportunity.