The B.C. Court of Appeal in Ager v. Canjex Publishing Ltd. allowed the respondent to post less than the full amount of the judgment as security in order to stay execution pending the appeal.
Ager was successful in its libel action against Canjex Publishing, a company that provided information about various publicly traded companies, in its "Stockwatch" publication. Canjex appealed. A chambers judge ordered that Canjex post security of $500,000 in order to stay execution pending the appeal. The Court of Appeal departed from the usual rule that full security be posted because of the nature of the respondent company. The Court noted that "the assets of the defendant company are primarily in a computer system and attendant software designed especially for its business." If Canjex was unable to post security, and the respondent caused the system to be seized and sold, its business could be damaged beyond repair, even if it was successful on the appeal. As a result, the Court of Appeal allowed Canjex to post $230,000, an amount it could afford according to the evidence filed.
For a copy of the decision, visit:
http://www.courts.gov.bc.ca/Jdb-txt/CA/03/06/2003BCCA0612.htm
Back to Headlines