LOLG Succeeds at Ontario Court of Appeal
Overview
In Infor Financial Inc. v Centrilogic Inc., LOLG obtained judgment at trial for the plaintiff, an investment bank, in a claim for a financing fee under an agreement. The trial judge also awarded elevated costs to LOLG’s client for securing a judgment that was more favourable than an offer to settle. The defendant appealed. The Ontario Court of Appeal dismissed the appeal in full, finding that the trial judge’s interpretation regarding the financing fee was consistent with “the interpretative principle of commercial reasonableness”. It also denied leave to appeal the costs award because leave is granted “sparingly” and the trial judge did not make any errors. The decisions reaffirm that a Court’s interpretation of a contract will be guided by commercial reasonableness, and that trial judges are owed significant deference for costs awards.
Matthew Gottlieb and Michael Currie were counsel at trial and on appeal for the successful party, Infor Financial Inc.
The Court of Appeal Decision can be found here.
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