Interest on Another Litigation Loan….DENIED!
Written on March 29, 2012.
In the recent Alberta case of 321665 Alberta Ltd. v. ExxonMobil Canada Ltd., 2012 A.J. No. 142, Alberta Court of Queen’s Bench, R.P. Belzil J. denied a Plaintiff the interest on a litigation loan, who litigated for 14 years and won a $6 million dollar Judgment, including $1 million for Punitive Damages.
The reasons why the interest was denied are not available in the QL decision, but this is a positive sign for defendants who cannot control what loan(s) a Plaintiff may decide to borrow during a lawsuit to “fund” their action.