The appellants challenged a stay of their Ontario action arising from commercial loans financing a hotel, casino and beach club project in the Turks and Caicos Islands.
The Court of Appeal held that while the alleged tortious conduct of bank officers in Toronto created a substantial connection to Ontario, the overall circumstances established a more real and substantial connection to the foreign jurisdiction.
The court upheld the motion judge's conclusion that the foreign forum was the more natural, convenient and appropriate forum, given the governing law clause, administration of the loans, attornment to foreign proceedings, witness location, and risk of inconsistent findings.
The appeal was dismissed with costs.
