Where shareholders of a company have knowledge of material facts giving rise to a claim for constructive trust over shares and have the power to cause the company to assert the claim, a delay of six years during which the character of the investment fundamentally changes (from speculative exploration company to successful mining company) will bar the claim by laches. The doctrine of laches requires consideration of all changed circumstances since the claimant had knowledge, including changes in the risk profile and value of the property. Separately, applications for non-party costs orders must be made promptly at the time of final orders; delay of over three years after disposition is inordinate and will be refused on discretionary grounds, particularly where all relevant facts were known at the time of the original orders.
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