Pangaea Resources Limited v. Harder
Pangaea Resources Limited
Law Firm / Organization
McMillan LLP
Lawyer(s)

Daniel Shouldice

InCor Services Limited
Law Firm / Organization
McMillan LLP
Lawyer(s)

Daniel Shouldice

George Molyviatis
Law Firm / Organization
McMillan LLP
Lawyer(s)

Daniel Shouldice

Jocelyn Bennett
Law Firm / Organization
McMillan LLP
Lawyer(s)

Daniel Shouldice

Lorne Harder
Law Firm / Organization
Whitelaw Twining (WT BCA LLP)
Springhill Investments Ltd.
Law Firm / Organization
Whitelaw Twining (WT BCA LLP)
Harder Investments Ltd.
Law Firm / Organization
Whitelaw Twining (WT BCA LLP)

Background: The plaintiffs, Lorne Harder, Springhill Investments Ltd., and Harder Investments Ltd., had made several high-risk investments and loans to companies and individuals associated with George Molyviatis and Jocelyn Bennett, including Pangaea Resources Limited and InCor Holdings Limited. The plaintiffs alleged that the defendants misrepresented the risk levels of these investments and failed to repay the loans.

Legal Issues:

  • Mareva Injunction: The Supreme Court of British Columbia had granted a Mareva injunction to freeze the assets of the defendants to prevent asset dissipation before judgment.
  • Fraudulent Misrepresentation: The plaintiffs claimed the defendants made fraudulent statements about the investments.
  • Breach of Contract: Disputes arose over unpaid loans and unfulfilled promissory notes.
  • Unjust Enrichment and Conspiracy: Plaintiffs alleged the defendants were unjustly enriched and conspired to defraud them.

Court of Appeal Decision: The Court of Appeal dismissed the appeal, supporting the Supreme Court's decision to grant the Mareva injunction. It found a strong prima facie case regarding certain loans due and payable, specifically the $2 million under the June 21, 2021, promissory note and other amounts totaling $8,858,050.

Outcome: The appeal was dismissed, maintaining the Mareva injunction and disclosure orders against the defendants, securing $8,858,050 in assets to protect the plaintiffs' interests. No specific award costs were mentioned in the summary.

Court of Appeals for British Columbia
CA49488
Corporate & commercial law
Respondent