First Majestic Silver Corp. v Davila, 2013 BCSC 1212 And 2013 BCSC 1704

First Majestic Silver Corp. v. Davila, 2013 BCSC 1212 And 2013 BCSC 1704

These decisions reviewed the appropriate terms for a post-judgment, worldwide Mareva injunction following a successful suit by First Majestic Silver Corp. (First Silver) against a former corporate director (director)¹ for breach of fiduciary duty in connection with a lost corporate opportunity to acquire a mining property in Mexico known as "Bolaños." The director indirectly acquired the Bolaños property when he purchased shares in Minerales y Minas Mexicana, S.A. de C.V. (MMM), the Mexican company that owned the property. Damages were awarded against the director and MMM (Defendants), jointly and severally, in the amount of US$93.84 million. After trial, First Silver applied for a Mareva injunction to freeze the assets of the Defendants within and outside British Columbia in order to secure payment of the judgment. Prior to delivering reasons, the Court issued a status quo order, which imposed