Imraj Holding Enterprises Ltd. v. 650273 Alberta Limited
Imraj Holding Enterprises Ltd.
Law Firm / Organization
FH&P Lawyers LLP
Lawyer(s)

Kevin Cheung

650273 Alberta Limited doing business as Centex Petroleum
Imraj Holding Enterprises Ltd. ("Imraj"), the plaintiff in the case, owned and operated a retail gas station in Salmo, BC known as the Property. In June 22, 2016, Imraj sold the Property to Centex, but Imraj retained the option to repurchase the Property within three years through a Repurchase Agreement. In April 2019, Imraj informed Centex of its intention to repurchase the Property, but the transaction did not proceed as planned in June 2019. Subsequent negotiations between the parties led to another attempt by Imraj to repurchase the Property in September 2019, but the transfer was not completed. The court determined that Centex repudiated the Repurchase Agreement by refusing to transfer the Property back to Imraj as stipulated in the contract. As a result, Centex breached the agreement, and Imraj was awarded nominal damages in the amount of $1000. The counterclaim made by Centex was dismissed, and the certificate of pending litigation was canceled. Each party was responsible for bearing their own costs. It is important to note that Centex and Imraj did not enter into a new contract following the termination of the Repurchase Agreement.
Supreme Court of British Columbia
S223028
Corporate & commercial law
$ 1,000
Plaintiff