Court File and Parties

Court File No.: CV-17-576804 Date: 20180820 Superior Court of Justice - Ontario

Re: Corona Steel Industry Private Limited, Applicant And: Integrity Worldwide Inc., Respondent

Before: Cavanagh J.

Counsel: Brian D. Belmont, for the Applicant Catherine Allen, for the Respondent

Heard: By Written Submissions

Endorsement

[1] On June 21, 2018, I released Reasons for Judgment on an application for recognition and enforcement of an Order and Decree granted on April 20, 2015, by the High Court of Calcutta, India (the “Indian Judgment”) in favour of the applicant Corona Steel Industry Private Limited (“Corona”) against the respondent Integrity Worldwide Inc. (“IWW”). In paragraph 62 of my Reasons for Judgment, I ordered that the Indian Judgment is recognized, that IWW pay the principal amount of the Indian Judgment, and that IWW pay prejudgment interest on the principal amount of the Indian Judgment at the interest rate provided for in the Indian Judgment from April 20, 2015, the date of the Indian Judgment, to June 21, 2018.

[2] Following release of my Reasons for Judgment, I was asked by counsel for Corona to consider further submissions with respect to the proper date for the commencement of pre-judgment interest. On July 5, 2018, I advised counsel that I would receive brief written submissions on the question of whether the judgment should be amended to correct the date for the commencement of calculation of prejudgment interest.

[3] I received brief written submissions from counsel for Corona and from counsel for IWW.

[4] Corona submits that the correct date for the commencement of prejudgment interest is April 8, 2013, which is the date on which prejudgment interest begins to run pursuant to the Indian Judgment. Corona submits that this should follow from the order recognizing the Indian Judgment.

[5] IWW submits that prejudgment interest should commence from September 22, 2016, which is the date on which it was served with a copy of the Indian Judgment. IWW submits that an action on a foreign judgment should be treated as an action on a simple contract debt for the purpose of the commencement date for the calculation of prejudgment interest. IWW submits that the contract debt under the Indian Judgment was not known to it until September 22, 2016, when it was served with a copy of the Indian Judgment and, therefore, it could not have been payable by IWW before this date. Alternatively, IWW submits that prejudgment interest ought to commence from the date of the Indian Judgment, April 20, 2015.

[6] A foreign judgment creates a debt obligation that may be recognized and enforced through a proceeding brought in Ontario. That proceeding may result in a judgment or order of the Ontario court: Independence Plaza 1 Associates, L.L.C. v. Figliolini, 2017 ONCA 44, [2017] O.J. No. 243 at para. 47.

[7] The debt obligation that was created by the Indian Judgment is for payment of the sum of USD$86,638 with further interest thereon at the rate of 12% per annum from April 8, 2013.

[8] In my Reasons for Judgment, I ordered and adjudged that the Indian Judgment is recognized. The debt obligation that was owed by IWW to Corona under the Indian Judgment on June 21, 2018, the date that I released my Reasons for Judgment, included USD$86,638 and interest on this sum from April 8, 2013, to June 21, 2018, the date of the Ontario judgment. The Ontario judgment that recognizes the Indian Judgment should properly provide for enforcement of a debt obligation in this amount.

[9] For these reasons, I conclude that my Reasons for Judgment contain an error in paragraph 61 c. I amend paragraph 61 c. of my Reasons for Judgment to correct the incorrect date for calculation of interest under the Indian Judgment by deleting “April 20, 2015” and substituting in its place “April 8, 2013”.

Cavanagh J. Date: August 20, 2018