Justice Petrou seems absolutely correct here. Yes, there was an enforceable oral settlement agreement in front of a judicial officer, which normally can be summarily enforced. But the claims at issue included a corporate derivative claim. Those need to be judicially approved, and this one wasn't. Hence the remand.
That said, I have no doubt whatsoever that the settlement agreement will be approved on remand. So it's unclear what the appellant really obtains from the successful appeal (or why it's worth it).
I also liked how expeditiously the Court of Appeal resolved this one. It wasn't a tough one (in my view). And the process went incredibly quickly once the matter was fully briefed.
Well done.
