Case Overview

• Nature of the Case: Breach of contract in a failed real estate transaction.
• Court’s Finding: Defendants, Samir Arora and Equinox Arora Realty Inc., failed to defend the case and were noted in default.

Key Issues & Ruling

1. Liability:

   • Arora agreed to buy Plaintiff’s Toronto condo for $2,350,000 but failed to pay deposits or close.
   • Plaintiff, Izhak Aliasi-Sini, resold for $1,840,000, incurring a loss.
   • Court found Arora acted in bad faith, using the agreement to remove competition while selling his own unit.

2. Damages:

   • $502,279.92 awarded, including:
     • $510,000 (price difference) minus commission adjustment.
     • $4,935.92 in legal fees.

3. Punitive Damages:

   • $25,000 awarded due to Arora’s misleading actions.
   • Arora had a history of similar misconduct, including a $12,500 fine by the Real Estate Council of Ontario.

4. Costs:

   • $26,530.26 granted on a substantial indemnity basis for bad faith conduct.

5. Prejudgment Interest:

   • Granted at 5.3% on $502,279.92 from January 31, 2023, but denied on the full purchase price.

Final Judgment

• Total Awarded: $553,810.18 plus prejudgment interest and costs?.