Introduction:
This case involved a contractual dispute over the $80 million sale of two commercial properties in Richmond, British Columbia. Bene (Oval) Development Ltd. was the plaintiff, and 1148538 B.C. Ltd. was the defendant. The dispute centered on whether the contract allowed for a complex transfer of legal and beneficial ownership.

Key Issues:

1. The interpretation of an option clause in the contract allowing the defendant to purchase the property either through an asset transaction or by acquiring all shares in the plaintiff.
2. Whether the defendant’s proposed method of separating beneficial and legal ownership was enforceable under the contract.
3. Whether the contract was void for uncertainty.
4. The plaintiff alleged the defendant breached the contract by failing to close under the agreed terms, seeking $20 million in damages and retention of a $5 million deposit. The defendant counterclaimed, alleging the plaintiff repudiated the contract.

Legal Analysis:
The court found significant evidentiary gaps, including a lack of testimony from key witnesses such as real estate agents. Conflicts between expert opinions and issues of credibility rendered the case unsuitable for summary trial.

Conclusion:
The court dismissed both parties’ applications for summary judgment. No costs or awards were made in favor of either party at this stage. The matter required a full trial to resolve the issues of contract interpretation and alleged breaches.