In the case of the plaintiffs FCP (BOPC) Ltd., ARI FCP Holdings Inc., and CPPIB FCP Holdings Inc. (collectively, the "Landlord") versus the defendant, Suzy Shier (Canada) Ltd., the parties entered into an agreement of purchase and sale for certain residential property in the Region of Waterloo on February 10, 2022. The transaction was scheduled to be completed on May 31, 2022, but it did not happen, leading the vendors to initiate this action against the purchasers for breach of contract.
The plaintiffs sought summary judgment against the defendants for various amounts, including $553,699.92, representing the difference between the contract price and sale price, $50,000.00 as the deposit, post-judgment interest, and costs. The liability was admitted by the defendants, and the primary issues in dispute were damages and whether this was a suitable case for summary judgment.
The court awarded the plaintiffs damages in the amount of $532,081.14, which included the contract price difference and approved ancillary expenses. The plaintiffs were also entitled to pre-judgment interest and post-judgment interest. The deposit of $50,000.00 was to be credited to the damage award.
The court granted summary judgment in favor of the plaintiffs, finding no genuine issue requiring a trial. The parties were expected to resolve the issue of costs; otherwise, they were required to submit written submissions within specific time periods to address the matter.