Brave Construction Ltd. was a construction company in which Roman Portnoy and Nicolai Ianovici were involved.
A dispute arose over ownership and financial dealings within the company.
Brave Construction Ltd. and Roman Portnoy alleged that Nicolai Ianovici and Trustin Construction Ltd. engaged in civil fraud and breached fiduciary duties owed to the company.
The litigation also addressed corporate ownership, with Portnoy claiming a 50% beneficial interest in Brave Construction Ltd.
Key Legal Issues:
Civil Fraud & Breach of Fiduciary Duty: The court found Ianovici and Trustin Construction Ltd. liable for fraud and fiduciary breaches that harmed Brave Construction Ltd.
Corporate Ownership Dispute: The court ruled that 50% of Brave Construction Ltd.'s shares were held in trust for Roman Portnoy.
Indemnification under the BC Business Corporations Act (BCBCA): Under s. 233(4)(b)(i), the court ordered Brave Construction Ltd. to indemnify Roman Portnoy for 50% of his litigation costs.
Double Costs Claim: The plaintiffs sought double costs after an unaccepted August 15, 2022 settlement offer, but the court denied the request.
Costs Awarded:
Brave Construction Ltd. was ordered to pay 50% of Roman Portnoy’s litigation costs (exact amount to be determined).
The plaintiffs' request for a bill of costs approval and waiver of the defendants’ signature was denied.
