The parties were involved in litigation. The respondent’s claim was for 1.8 million EUR. After mediation before a judge, the parties, both sophisticated commercial entities, entered into Minutes of Settlement. The Minutes provided for periodic payments totalling 1 million EUR over a period of two years. In the event of default, the appellant would consent to judgment in the amount of 1 million EUR. Paragraph 4 of the Minutes provided that the judgment would not give credit for any payments made before a default.
You can probably guess the result on appeal from summary judgment: De Post N.V. Van Publiek Recht/La Poste S.A. de Droit Public v. Key Mail Canada Inc., 2012 ONCA 161 (Ont. C.A.) per O’Connor A.C.J.O., Simmons J.A. and Perell J. (ad hoc)
In the inimitable words of Homer J. Simpson: “D’oh!”.