Textbook Notes (368,652)
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Commerce (379)
COMM 393 (60)
Chapter

Case Brief - Brealta Energy v. First Capital Management – BREACH OF CONTRACT & DAMAGES.docx
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Department
Commerce
Course
COMM 393
Professor
Patricia Mallia
Semester
Fall

Description
BrealtaEnergyvFirstCapitalManagementBREACHOFCONTRACTDAMAGESFactsBrealta and First Capital Management Ltd entered into a loan and option agreement set to expire March 2009 The expiry date for exercise of the option was ultimately extended to September 2010 Brealta alleges that a number of attempts were made prior to the expiry date to communicate with Mr Wilfur that it wished to exercise its option but that Mr Wilfur was unavailable not responsive and had become noncommunicative On September 15 2010 FCM filed an NOI that it intended to file proposal under the Bankruptcy and Insolvency Act Brealta argues that the filing of the NOI constituted an anticipatory breach of the option agreement Brealta also argues that the Trustee is estopped from saying that the option expired because both FCMTrustee told them that option was not exercisable Truste
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