On 18 January 2022, the BC Court of Appeal dismissed Concord Pacific Acquisition Inc.’s appeal of a 2019 trial decision involving a claim in excess of $350 million brought by Concord against three named defendants, including renowned Singaporean businessman, Hong Leong Oei. The dispute between Mr. Oei and Concord has been ongoing since 2015. In 2019, Mr. Justice Voith dismissed Concord’s claims after a 48-day trial where NST partners Irwin Nathanson, Q.C. and Stephen Schachter, Q.C., and associate Caitlin Ohama-Darcus, acted for Mr. Oei and related companies. After the success at trial, NST continued to act for Mr. Oei during the course of Concord’s appeal.
The Court of Appeal upheld the trial decision of Voith J. and dismissed Concord’s appeal. There remains to be determined the order of special costs against Concord, which is estimated to be in excess of $4 million.
The full decision can be found here.
Concord has indicated an intention to seek leave to appeal to the Supreme Court of Canada.