S. Zucker

The parties brought competing motions regarding three disputed terms of their 2019 Minutes of Settlement: the removal of snowmobiles, the form of a share transfer agreement, and the payout of a life insurance policy.

The court ordered the applicant to remove the snowmobiles by a specific date, rejected the applicant's complex share transfer agreement in favour of a simpler one with basic representations and an indemnity, and refused to set aside the life insurance provision, finding no unilateral or mutual mistake that would justify rescission.

The applicant purchased two commercial condominium units from the respondent developer.

The purchase price was to be adjusted based on the 'actual gross area' of the units, calculated in accordance with the BOMA 1996 Standard.

The applicant argued the price should be based only on the net usable area, while the respondent argued it must include a gross-up for floor and building common areas.

The court dismissed the application, finding that the contract's explicit reference to the BOMA 1996 Standard objectively demonstrated the parties' intention to include the proportionate share of common areas in the calculation of the purchase price.

The plaintiffs previously obtained an ex parte interim Mareva injunction against the defendants.

The defendants retained counsel and sought time to respond, while filing an affidavit stating the injunction had frozen their business and personal accounts, preventing the operation of their mortgage brokerage and payment of personal expenses.

On consent, the court extended the injunction to September 20, 2021, and varied its terms to exempt the business accounts and allow the defendants to access personal accounts for living expenses.