This decision concerns a reference for the calculation of damages arising from a failed real estate transaction.
The vendor, 400 East Mall GP Inc., sought damages from the purchaser, Olanrewaju Omololu, after the purchaser breached the Agreement of Purchase and Sale.
The court assessed damages for loss of bargain and consequential damages.
It determined that various 'Additional Charges' claimed by the vendor were not recoverable due to insufficient evidence and failure to mitigate.
The court awarded the vendor $97,835.92 in total damages, after crediting the purchaser's deposit and offsetting occupancy fees against carrying costs.
No costs were awarded due to the mixed result.