The defendants brought a motion for a declaration that a binding settlement was reached between the parties by Minutes of Settlement dated April 2, 2019.
The plaintiff opposed the motion, arguing the settlement was an unenforceable agreement to agree and that the defendants repudiated the agreement through delay.
The court found that essential terms, such as whether the plaintiff would incur guarantee obligations on becoming a 15% shareholder, were not agreed upon at mediation.
The court concluded the Minutes of Settlement constituted an unenforceable agreement to agree and dismissed the motion.
