Lathigee v. British Columbia Securities Commission
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The Supreme Court affirmed the district court's decision to recognize and enforce in Nevada the disgorgement portion of a securities-fraud judgment from British Columbia, holding that the district court properly recognized the disgorgement judgment.
On appeal, Appellant argued that the disgorgement judgment was in the nature of a fine or penalty, and therefore, it should not be enforced outside Canada. The Supreme Court disagreed, holding (1) the British Columbia judgment did not constitute an unenforceable penalty because the primary purpose of the disgorgement award was remedial in nature, not penal; and (2) even crediting the argument that Nev. Rev. Stat. 17.740(2)(b) takes the disgorgement judgment outside Nev. Rev. Stat. 17.750(1)'s mandatory recognition provisions, the district court properly recognized it as a matter of comity.
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