Following an earlier appeal allowing the appellants' challenge to a trial judgment in a constructive dismissal and shareholder buyout dispute, the court resolved two outstanding issues arising on settlement of the order.
The court held that the “Effective Date” under the shareholders’ agreement was the date the appeal reasons were released, because that was when judgment on the counterclaim was finally and effectively determined.
The court further held that no prejudgment interest was payable before that date, but postjudgment interest was payable from and after that date at the statutory rate under the Courts of Justice Act.
The court also directed payment out of court to the bank of funds previously paid into court.
