Law360 Canada ( September 11, 2024, 12:04 PM EDT) -- Claim by plaintiff for breach of contract, breach of trust and unjust enrichment. The claims stemmed from a professional relationship between the parties, who had jointly embarked on establishing a technology-driven business venture together. The plaintiff and the defendant entered into an investment contract and the defendant would manage the plaintiff’s investment portfolio. The defendant would receive, by way of compensation, 20 per cent of the annualized gain on the investments. The plaintiff transferred a large sum of money to the defendant under the investment contract, on the understanding that the defendant would manage the funds. He anticipated that the funds would be deposited into a trading account, while he would have access to the account to oversee the trading activities. However, the plaintiff argued that the defendant breached his contractual obligations by refusing to return the investment funds on demand, breached his trust obligations by appropriating the funds, or was unjustly enriched by his retention of all of the funds in issue. In contrast, the defendant argued that the plaintiff was not a business associate but rather a client for whom the defendant was providing services. He asserted the funds in issue were fees for mentoring and consulting services under a Preliminary Agreement....