The appellant, TS Pharmaceuticals Ltd., appealed the dismissal of its motion for damages against the court-appointed Receiver, A. Farber & Partners Inc. TS alleged the Receiver failed to use "best efforts" to maintain a Health Canada cannabis licence, which lapsed, leading to the termination of a Share Purchase Agreement.
The Court of Appeal upheld the motion judge's finding that the Receiver had no positive obligation or authority to maintain the licence, nor could it have done so in the short timeframe between the SPA execution and licence expiry.
The appeal was dismissed.