14 May 2020
Balancing the judgment on the five agreed issues, the parties' partial settlement and the lack of definitive evidence about downstream financial consequences, neither party achieved overall success sufficiently to justify a costs award; accordingly costs were held to lie where they fall.
18 Aug 2010
The settlement correspondence (letter of 5 November 2009) unambiguously treated the $200,000 as payable independently of the stock sale proceeds (which were allocated to the $800,000 stock component); therefore proceeds from stock sales, including those by Chantorus Ltd, could not be credited against the $200,000. The defendants raised no defence sufficient to defeat summary judgment. Judgment was awarded to the Bank for $200,000 plus statutory interest at 8.4% from 18 January 2010 to 18 August 2010 and costs and disbursements as set out.