Where a statutory limitation period is applied by analogy to an equitable claim, the party seeking to rely on the limitation bears the burden of satisfying the court that it is just to apply it, and the court must consider all the circumstances including when the plaintiff became aware of the relevant facts and the availability of extensions of time under the statute. Questions of limitation by analogy, laches, and abuse of process in complex commercial litigation will rarely be suitable for summary determination. The defence of laches requires proof of actual prejudice, not merely a risk of prejudice. The question whether a claim for breach of fiduciary duty by directors is sufficiently analogous to a tort claim to attract a six-year limitation period was left open.
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