THIS APPLICATION, made by the Applicants, Sunlodges Ltd and Sunlodges (T) Limited, for an order recognizing and enforcing an arbitral award, dated December 20, 2019 (as amended January 15, 2020) (the "Arbitral Award"), attached hereto as Schedule "A", was heard this day by judicial videoconference via Zoom at Toronto, Ontario, due to the COVID-19 pandemic.
1. THIS COURT ORDERS that the Arbitral Award is hereby recognized and given full force and effect in Ontario pursuant to the International Commercial Arbitration Act, 2017, SO 2017, c 2, Sch 5.
2. THIS COURT DECLARES that, as of the date of this Order, the amount outstanding under the Arbitral Award, inclusive of interest, is US$22,837,823.59.
3. THIS COURT ORDERS that the Applicants are entitled to their costs of the Application fixed in the amount of CAD$176,826.44, payable fo1thwith.
4. THIS COURT ORDERS that the Respondent shall forthwith pay into Coutt to the credit of this Application, via wire transfer, the sum of US$22,837,823.59, plus interest of US$4,203.0l per day from the date of this Order until the day on which payment of the entire amount, inclusive of interest, is paid into Court.
5. TIDS COURT ORDERS that the Respondent shall forthwith pay into Court to the credit of this Application, via wire transfer, the sum of CAD$176,826.44, plus post judgment interest at the rate of 2% per annum from the date of this Order.
6. THIS COURT ORDERS that the Applicants shall provide the Accountant of the Superior Court with all information necessary to receive funds paid out of Court.
7. THIS COURT ORDERS that, upon receipt of the amounts refen-ed to in paragraphs 4 and 5 and the information referred to in paragraph 6, the Accountant of the Superior Court shall pay out of Court to Osler, Hoskin & Harcourt LLP, in trust, via wire transfer, the amounts paid into Court (in the same currency as paid into Comt, plus any interest accrued thereon and less any applicable fees) on the earl iest date it is able to do so.
8. THIS COURT ORDERS that the interim Mareva injunction in the order issued by this Honourable Comt on September 28, 2020, as previously extended on October 6, 2020 and November 9, 2020, further extended and amended on December 10, 2020, and further extended on January 12, 2021 and January 25, 2021, is hereby continued as a permanent injunction.
9. THIS COURT ORDERS that, upon receipt by Osler, Hoskin & Harcourt LLP of the amounts payable hereunder, the permanent injunction is lifted and the Applicants will discontinue their recognition and enforcement proceedings in Quebec and will take all steps necessary to terminate any interim orders obtained in Quebec against the Respondent in such proceedings.
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