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Court ordered Wescon to buy out Frank Gierc Jr.’s shares for $2,323,250 plus interest from January 31, 2016, with staged payment terms and costs to Frank.
Court clarified its earlier buy-out order, confirming Broadway Towers’ shares must be valued on a market-value basis with a single 40% discount, not extra discounts.
The court dismissed a summary trial application for unpaid software-licensing invoices because the debt claim and wrongful-termination counterclaim were inextricably intertwined.
Court granted a conditional stay of a 30-day jail term for child support arrears, requiring scheduled payments to the Director of Maintenance Enforcement.
The court found a binding verbal contract existed between Mactara Limited and Forestier Larochelle Inc. to harvest specified blocks (not a fixed six-month term), accepted contract rates ($19.00/tonne harvesting, $9.84/tonne trucking), held Mactara breached the agreement by changing payment terms due to lender pressures which caused measurable loss, and awarded damages for 1.58 weeks of lost work (net profit), loss from wood drying, and pre-judgment interest while dismissing claims for equipment, punitive and general non-pecuniary damages.
Source excerpt
The Supreme Court of Canada held that the buyer could inspect the oats before payment and that the sellers’ demand for a bank guarantee prevented recovery.
The Supreme Court of Canada construed a sale-of-goods contract on payment timing for cedar poles, holding that neither party was entitled to judgment on the pleadings and record as presented.
The Supreme Court of Canada held that a thirty-day settlement clause did not give the buyer thirty days after delivery to pay for timber.
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