DATE: 20040513

DOCKET: C38553

COURT OF APPEAL FOR ONTARIO

RE:

SOL NEGER (Applicant/Respondent in Appeal) –and– ARIEH EREZ, GUY EREZ, ZAFRIR ROMI, BRILLIAN-C DIAMONDS INC. and 1156086 ONTARIO LIMITED (Respondents/Appellant)

BEFORE:

CATZMAN, MOLDAVER and GOUDGE JJ.A.

COUNSEL:

Ronald Carr

for the appellant Arieh Erez

Fred A. Platt

for the respondent

HEARD AND ENDORSED:

May 12, 2004

On appeal from the judgment of Justice John D. Ground of the Superior Court of Justice dated June 26, 2002.

A P P E A L B O O K E N D O R S E M E N T

[1] The trial judge made findings of fact that the parties agreed that the appellant would buy and the respondent would sell the latter’s interest in Prince Diamonds; that all of the material terms were concluded; and that he could fairly imply a term that the transaction would be structured by the accountant, Rutman, in a manner that would be as tax neutral as possible. There was evidence before him on which he could fairly make those findings and draw that inference.

[2] Accordingly, the appeal is dismissed with costs fixed in the amount of $10,000.00, inclusive of disbursements and G.S.T.