Background:
Kingsway Holdings Ltd. (Landlord) filed for a summary trial against New Coast Holdings Ltd., Joy Fortune Holding Limited, and Minghan Ren (collectively, Tenant) due to rent payment defaults under a 12-year commercial lease.

Issues:
The main issues were whether the Tenant breached the lease by failing to pay rent and whether the Landlord was entitled to terminate the lease and claim damages, including future rent losses and related expenses.

Facts and Arguments:
Kingsway Holdings claimed the Tenant defaulted in 2022, owing over $89,549.65 in unpaid rent. Despite notice, the Tenant failed to remedy the arrears. The Landlord terminated the lease on January 9, 2023, and re-leased the premises as of March 1, 2023. The Tenant argued mitigation was unreasonable, pointing to a lengthy fixturing period granted to the new tenant; however, the court upheld the Landlord's mitigation efforts as reasonable.

Damages and Award:
The court awarded $125,369.51 in unpaid rent and $59,882.23 for re-letting and legal expenses, with legal costs to be assessed on a solicitor-client basis. The claim for future rent loss was denied since the Landlord fully mitigated these losses by securing a higher-paying tenant.

Interest and Costs:
The court ordered a 2% monthly interest rate on the damages owed. Each party bore its own application costs due to mixed success.