FIC Real Estate Fund Ltd. v Phoenix Land Ventures Ltd., 2015 ABQB 318

This litigation matter involved an action advanced by the Plaintiff concerning the interpretation of a one page trust agreement. The Defendant disputed that the trust agreement gave the Plaintiff a property interest in the land at issue but instead argued that the Plaintiff was entitled to a 20% interest in a corporation that had been intended to develop a hotel property. The Plaintiff claimed that the $1,000,000 investment gave rise to a 20% interest in the subject land and buildings. The matter proceeded to trial and judgment issued in favor of the Plaintiff.