BAckground: The case "Boat Harbour Legacies Ltd. v. Tiara (BHL) Holdings Inc." was adjudicated in the Supreme Court of British Columbia, where the judge ruled in favor of the defendants, Tiara (BHL) Holdings Inc. and its associates. The judgment centered around the enforceability of a Share Purchase Agreement (SPA) and whether a condition precedent was effectively waived.

Legal Arguments/Issues: The primary legal issue was whether the SPA became void due to the non-fulfillment of a condition precedent stipulated in an Addendum. The defendants argued for summary judgment on the basis that the condition precedent had been waived and that the SPA was fully executed and binding. Boat Harbour Legacies Ltd. contested that the SPA was void from inception as the condition precedent was never met.

Decision: The court concluded that the condition precedent was mutually waived by the parties, making the SPA valid and enforceable. The payments made by Boat Harbour—totaling $680,000 in exclusivity fees—were deemed to be in accordance with the SPA, leaving no grounds for their recovery.

Costs/Award: The action was dismissed, with the court awarding costs in favor of Tiara (BHL) Holdings Inc. and associated defendants, though the judgment did not specify the total amount of costs awarded.