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Appeal allowed on calculation of bonus in company sale as Titus test upheld

Friday, February 09, 2018 @ 11:06 AM | By Amanda Jerome

The Ontario Court of Appeal allowed an appeal over the calculation of a bonus in a decision counsel says upholds the test for unconscionability in contract law in the province.

In Phoenix Interactive Design Inc. v. Alterinvest II Fund L.P. 2018 ONCA 98, the court heard that the appellant, Alterinvest II Fund L.P. (ALP), established by the Business Development Bank of Canada (BDC), provided debt and equity financing to small- and medium-sized businesses across the country. Phoenix Interactive Design Inc. (Phoenix), the respondent, was seeking financing...