Boyer v. Callidus Capital Corporation

2024 ONCA 761

• This ruling addressed procedural issues regarding the appeal.
• The respondent, Craig Boyer, submitted a factum exceeding the prescribed word limit. The court allowed the extended filing but permitted Callidus Capital Corporation to submit a 7,000-word reply factum.
• No monetary awards were issued in this decision?.

2025 ONCA 79

• Boyer, a former executive at Callidus, claimed constructive dismissal and sought payment for unpaid vacation, deferred bonuses, and stock options.
• Callidus counterclaimed, alleging Boyer breached fiduciary duties in handling loans involving Xchange Technologies Group, Horizontal Well Drillers, and Gray Aqua.
• The Ontario Court of Appeal upheld the motion judge’s decision:
  • Boyer was not constructively dismissed but voluntarily retired in September 2016.
  • However, the court awarded Boyer:
    • $93,076.92 for 22 weeks of unpaid vacation.
    • $525,000 plus interest for unpaid and deferred bonuses from 2014 and 2015.
    • $1,213,856.98 for lost stock options.
• The court held that issue estoppel barred Callidus from asserting a just cause defense, as its counterclaim had been dismissed in a 2023 ruling.
• Callidus' appeal was dismissed, and it was ordered to pay $55,000 in costs to Boyer within 30 days?.

Outcome

• Boyer secured a total monetary award (damages + costs) of $1,886,933.90 plus interest?.
• Callidus’ appeal was dismissed?.