The appellant, a former lawyer, sued the respondent banks for freezing his accounts after he was charged with money laundering and fraud.
The motion judge granted summary judgment dismissing the action and awarded $225,000 in substantial indemnity costs against the appellant.
On appeal, the Court of Appeal upheld the summary judgment, finding no genuine issue for trial despite the respondents' delay in bringing the motion.
However, the Court granted leave to appeal the costs award, reducing it to $175,000 on the basis that the unaccepted settlement offer should not have elevated costs incurred prior to the offer being made.
