Senior execs in Ontario alleging bad faith, mental distress and punitive damages
The Ontario Superior Court of Justice has ruled that two former senior executives of Nickel 28 Capital Corp. can rely on a contested “without prejudice” communication in their wrongful dismissal lawsuit, while striking out all claims against two company directors in their personal capacities.
In reasons released 5 December 2025, Justice Merritt held that Justin Cochrane, former president, and Conor Kearns, former chief financial officer and corporate secretary, may plead details of a November 2023 “best and final offer” and “proposed full and final settlement” from Nickel 28 as part of their allegations of bad faith, mental distress and punitive damages.
At the same time, the court concluded that claims against directors Edward Collery and Brett Richards disclosed no reasonable cause of action and could not be salvaged by amendment.
Cochrane and Kearns are suing Nickel 28 Capital for wrongful dismissal, breach of contract and unjust enrichment. They allege they were terminated in May 2024 following a hostile takeover and proxy battle in which New York-based hedge fund Pelham Investment Partners LP gained significant influence over the board of the Toronto‑listed metals streaming and royalty company.
The plaintiffs, who describe themselves as founders and former senior executives of Nickel 28, say that under their leadership the company was extremely profitable....
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