Case # 35026
Sattva Capital Corporation (formerly Sattva Capital Inc.) v. Creston Moly Corporation (formerly Georgia Ventures Inc.) (December 12, 2013)
The appellant introduced the respondent to a potential molybdenum mining deposit in Mexico, which the respondent ultimately purchased. The two parties had entered into a Finder’s Fee Agreement effective January 12, 2007. The parties agreed a finder’s fee of $1.5 million U.S. was payable under the Agreement. However, the two parties could not agree on how the fee should be paid. The matter went to arbitration and the arbitrator
awarded damages of $4.1 million against the respondent for breach of contract. The respondent tried to appeal the award but was denied by the chambers judge. The British Columbia Court of Appeal overturned that decision. The Court of Appeal granted leave to appeal on two issues of law regarding the interpretation of the Agreement. The appeal was dismissed. The appeal court allowed the respondents’ appeal of that decision and granted an order than that the finder’s fee had been paid.