Nicholas Businger

This decision determines the costs following the defendants' successful motion for summary judgment in a long-running civil action.

The defendants sought substantial indemnity costs totaling $371,885.64 for both the motion and the underlying action, while the plaintiff proposed a significantly lower sum of $62,648.44.

The court found that the plaintiff's rejection of a reasonable 2018 settlement offer, his unfounded claim for punitive damages, and his contradiction of discovery admissions justified costs on a substantial indemnity scale.

Ultimately, the court fixed the total costs award at $225,000 inclusive of taxes and disbursements, payable by the plaintiff to the defendants.

The court granted summary judgment in favour of HSBC Bank of Canada and HSBC Securities Canada Inc., dismissing Kenneth James's claims for conversion, intentional interference with economic relations, defamation, and punitive damages.

The court found that HSBC acted within its contractual and legal rights in freezing and managing the plaintiff’s accounts following criminal charges and a restraining order, and that all funds (except those in Hong Kong, over which HSBC Canada had no control) were returned to the plaintiff after his acquittal.

The court held there was no genuine issue requiring a trial.