LOLG Successful in Land Development Dispute
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On December 16, 2019 the Superior Court of Justice dismissed the application of Bovaird West Holdings for an order compelling Mattamy (Credit River) Limited to pay approximately $2.8 million pursuant to a contractual indemnity. Mattamy had sold undeveloped land to Bovaird for the purpose of retail development. Mattamy agreed to indemnify Bovaird for any further amounts due under a cost-sharing agreement between nearby landowners. Bovaird later changed plans and pursue residential development, which triggered a $2.8 million contribution under the cost-sharing agreement. Bovaird demanded that Mattamy pay the sum pursuant to the indemnity. Mattamy refused on the basis that the indemnity assumed a retail development. The Court agreed with Mattamy, dismissing Bovaird’s claim. James Renihan and Sapna Thakker represented Mattamy in the application. The decision can be found here:
Bovaird West Holdings Inc. v. Mattamy (Credit River) Limited - CV-19-00619692 - Reasons for Judgment dated December 16 2019 - O'Brien J_.