Recently, a private lending dispute case between a natural person (represented by a Dentons Beijing team) and a Tangshan real estate company and its shareholders was heard in the Court of Appeal for British Columbia. Our client ultimately won this case.
The case not only involves a Mareva Injunction Order with the largest amount of asset freeze granted by the courts in British Columbia, but also marks the first case that the BC courts recognized and enforced a civil mediation document validated by a Chinese court.
Prior to this, through cooperation with Dentons' Vancouver office, the team successfully obtained the Mareve Injunction Order signed by Judge Macintosh in the court of first instance. The court seized the opposing party's assets in Canada, totaling CAD 20.5 million (more than RMB 100 million), including two villas and one farm.
The Asset Freeze Order
The court of first instance organized 8 hearings, and our client won the first instance in early 2018. The judgment not only recognized the civil mediation document issued by our domestic courts, but also supported our claim to execute the overdue interest rate at 60%, the highest rate permitted by Canadian law. After that, the opposing party filed an appeal. Through our lawyers' active defense and unremitting efforts in nearly one year, the client finally won the final judgment in the Court of Appeal for British Columbia.
This case lasted more than two years. Partner Wang Xuegang led the team, supported by paralegal Pang Yibo. The case caused a stir in Canada during the proceedings, and the local Chinese newspaper Sing Tao Daily, which has the highest circulation locally, reported this case.
Sing Tao Daily's report of this case during the first instance in September 2017
The judgment of this case has set a precedent for the recognition and enforcement of a decision of a Chinese court in Canada and even in common law countries. The success not only fully showcased Dentons lawyers' advantages in handling transnational dispute cases, but also demonstrated the Firm's significant preponderance as a polycentric law firm and the largest firm in the world.