Nature of the Case: John Kozak sought an interim preservation of property order against Rebecca Russo concerning shares of SolarBank Corporation registered in Russo's name, which Kozak claims Russo held in trust for him.
Relationship Background: Kozak and Russo were in a romantic relationship from 2016, ending in July 2024. During this period, Russo agreed to hold shares in trust for Kozak.
Property Dispute: Kozak purchased shares of Abundant Solar Energy Inc. (later SolarBank) through Russo, who signed a Declaration of Trust acknowledging that she held the shares on his behalf. The shares significantly increased in value after the company’s IPO in March 2023.
Motion Details:
Relief Sought: Kozak requested to freeze Russo’s accounts holding the shares and proceeds to prevent their dissipation.
Court's Decision: The court granted Kozak's motion, finding there was a serious issue to be tried and that the balance of convenience favored preserving the assets.
Russo's Actions: Russo had indicated potential actions that could dissipate the shares, conflicting with her earlier agreement to freeze the accounts.
Outcome: The court validated service on Russo, denied her request for adjournment, and ordered the preservation of the assets. Kozak was awarded costs of $17,234.20 due to the necessity of the motion caused by Russo's inconsistent actions.
