Is a party entitled to rely upon the defence of good faith change of position when it releases gold to Filali?
Ontario, Canada
The following excerpt is from Bank of Montreal v. Asia Pacific International Inc., 2018 ONSC 4215 (CanLII):
API is therefore entitled to rely upon the defence of good faith change of position because it released the gold to Filali, in reliance on the wire transfer: Arrow ECS Norway AS v. John Doe, 2017 ONCA 664 (CanLII), at para. 25. There is insufficient evidence of wrongdoing on API’s part, such that it would not be entitled to rely upon the defence.
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