The appellant, a general contractor, appealed the dismissal of its application for a declaration that the City of Toronto pay a construction holdback of $174,381.14.
The parties had previously entered into a global settlement of five lawsuits for $1,287,500, signing a release for all outstanding claims.
The appellant argued the holdback funds were impressed with a trust under the Construction Lien Act and separate from the settlement.
The Court of Appeal upheld the application judge's finding that the unambiguous terms of the settlement and release covered all claims, including the holdbacks, and dismissed the appeal.