Stefanja Savic

This costs endorsement follows the successful appeal by Nedaneg Financial Corporation of the dismissal of its motion for a certificate of pending litigation.

The only issue before the court was the scale of costs to be awarded.

The court found that while there was a strong prima facie case of fraud, the conduct of the respondents was not sufficiently scandalous or outrageous to warrant substantial indemnity costs.

The court awarded Nedaneg costs on a partial indemnity basis in the amount of $80,000, payable within 15 days.

The court allowed Nedaneg Financial Corporation's appeal from the dismissal of its motion for a certificate of pending litigation (CPL) against properties allegedly beneficially owned by Pedram Talebzadeh, despite title being held by others.

The court found that the Associate Judge erred by failing to consider the strong prima facie case of fraud and the relevant context, including evidence that Pedram arranged for others to hold title to defeat creditors.

The court held that the equities and balance of convenience favoured granting the CPL and granted leave to register a CPL on the Cedric and Winona Properties.