Background:
Roman Portnoy, a civil engineer, and Nicolai Ianovici, a former lawyer, partnered in 2016 to form Brave Construction Ltd. Although Ianovici was listed as the sole incorporator, the agreement was that they would share ownership equally. Ianovici later added Portnoy as a director, but disputes arose over the ownership structure and management of the company.

Ownership Dispute:
The case initially centered on whether Nicolai Ianovici or Roman Portnoy owned Brave Construction Ltd. The court found that Ianovici held 50% of the shares in trust for Portnoy, confirming them as equal partners.

Fraud Allegations:
Ianovici was found to have committed civil fraud by misrepresenting payments made to Artebuz Holdings, a front for his company, Trustin Construction Ltd. He diverted funds from Brave to Trustin, which directly competed with Brave's business.

Breach of Fiduciary Duty:
The court determined that Ianovici breached his fiduciary duties as a director by failing to disclose conflicts of interest, diverting business opportunities, and using Brave's resources for his personal gain.

Damages Awarded:
Brave Construction Ltd. was awarded $72,509 in damages, representing Trustin’s net profits during the relevant period, which were attributed to Ianovici’s fraudulent actions and breach of fiduciary duty.

Costs:
As the successful party, Brave Construction Ltd. was entitled to its legal costs, subject to any further submissions from the parties within 30 days. Financial terms were not specified.