My top pick for 2021 stands for the proposition that a foreign award creditor will not be ordered to post security for costs simply by virtue of being a non-resident seeking to recognize and enforce an arbitral award. In China Yantai Friction Co. Ltd. v. Novalex Inc., 2021 ONSC 3571, a three-person panel of the Divisional Court of the Ontario Superior Court of Justice (the “Divisional Court”) granted leave to appeal two interlocutory orders, including the order requiring the foreign award creditor China Yantai Friction Co. Ltd. (“Friction”) to post security for costs in the amount of $76,376.71. This case is important because it provides support for Ontario as an “arbitration-friendly” jurisdiction, and, as the Divisional Court noted, “[13] … it speaks to the response of Canadian courts to international comity and our relationship to the courts of other countries.”
Continue reading “John’s 2021 Top Pick: Ontario – China Yantai Friction Co. Ltd. v. Novalex Inc., 2021 ONSC 3571 and 7714 – #566”John’s 2021 Top Pick: Ontario – China Yantai Friction Co. Ltd. v. Novalex Inc., 2021 ONSC 3571 and 7714 – #566
