Ai Kang Yi Yuan Enterprises Corp. v. 1098586 B.C. Ltd.
Ai Kang Yi Yuan Enterprises Corp.
Law Firm / Organization
Not Specified
Lawyer(s)

C.C. Cheng

Wang Dong
Law Firm / Organization
Not Specified
Lawyer(s)

C.C. Cheng

1072709 B.C. Ltd.
Law Firm / Organization
Not Specified
Lawyer(s)

C.C. Cheng

1098586 B.C. Ltd.
Law Firm / Organization
Kornfeld LLP
Lawyer(s)

Sandra Foweraker

AK (007) GP Management Ltd.
Law Firm / Organization
Kornfeld LLP
Lawyer(s)

Sandra Foweraker

AK 007 Limited Partnership
Law Firm / Organization
Kornfeld LLP
Lawyer(s)

Sandra Foweraker

Background:
This case involved a dispute over a 2016 document concerning a land assembly project in North Vancouver. Ai Kang Yi Yuan Enterprises Corp. (AKYE), led by Dr. Dong Wang, signed the document with AK (007) GP Management Ltd., run by Ms. Qun Zhao, to exchange property interests for units in a limited partnership.

Legal Issues:
AKYE argued that the document was not a binding contract due to missing essential terms, particularly the share structure and control of the general partner in the partnership. They also contested the trial court's order for specific performance, which required transferring a property (Lot 15) and other assets to the partnership. The central legal issue was whether the document contained the essential terms needed for a binding contract.

Court’s Findings:
The court upheld the trial judge’s ruling that the document was a valid contract, finding that the share structure and control were not essential terms. The judge emphasized the urgency of the situation, noting that Dr. Wang faced losing over $1 million in deposits if the contract was not enforced.

Outcome:
The appeal was dismissed, affirming the order for specific performance. The court did not specify a monetary award or costs in the summary provided. The judge’s decision required the transfer of Lot 15 to the partnership, reflecting the document's terms.

Court of Appeals for British Columbia
CA48539; CA48540
Real estate
Respondent