Ontario Court of Appeal upholds decision declining to enforce cryptocurrency exchange arbitration agreement as contrary to public policy
Introduction In a recent decision in Lochan v Binance Holdings Limited, the Court of Appeal for Ontario upheld a Superior Court decision declining to stay a proposed class action in favour of arbitration, finding that the arbitration agreement effectively bars claims by imposing prohibitive costs on claimants. The Court further held that these clauses may also be void for being contrary to public policy and unconscionable. Background The defendant, Binance, is the world’s largest cryptocurrency exchange. It sold cryptocurrency derivatives to Canadians from 2019 through 2022 but failed to file a prospectus or register with the Ontario Securities Commission. In ... [more] Full article
Superior Court Finds Arbitration Agreement for Crypto Trading Platform Unenforceable
In the recent decision, Lochan v. Binance Holdings Limited, 2023 ONSC 6714, the Ontario Superior Court of Justice has demonstrated that the courts will find an arbitration agreement unenforceable when ... [more] Full article
Supreme Court Decides Businesses Cannot Be Part Of Class Action Where Arbitration Clause Exists
In a close, 5-4 decision, the Supreme Court of Canada recently reinforced the primacy of arbitration agreements. The Court held that if businesses are parties to a standard form contract ... [more] Full article
Last Call for TELUS: Canada’s Highest Court to Hear Appeal on Scope of Class Action
The Supreme Court of Canada has agreed to hear an appeal from TELUS Communications Inc. (“TELUS”) in a class action that alleges that TELUS overcharged customers by rounding up calls ... [more] Full article
Arbitration Contributors
Kenneth A. Dekker
Kenneth Dekker, a partner of the firm, is a successful trial and appellate lawyer who is valued by his clients as a resourceful and practical litigation counsel. Over more than two decades, Ken has litigated noteworthy cases in a range of fields that include class action defence, securities and broker-dealer litigation and regulatory defence, corporate and shareholder disputes (including oppression and winding up cases), defamation, civil fraud litigation, disputes over contracts, injunctions, professional liability litigation, employment litigation and cross-border litigation issues. Ken has appeared before all levels of courts in Ontario, including the Ontario Court of Justice, the Superior Court of Justice, the Divisional Court and the Court of Appeal for Ontario, as well as before the Supreme Court of Canada. Ken also represents and advises clients in regulatory matters before the Investment Industry Organization of Canada (IIROC), the Mutual Fund Dealers Association of Canada (MFDA) and the Ontario Securities Commission (OSC). Ken has been ranked as Repeatedly Recommended for Securities Litigation by Lexpert, for Corporate and Commercial Litigation by Best Lawyers of Canada, and he has been given the highest available rating of AV, or pre-eminent, by his peers on Martindale-Hubbell.
Meredith Hayward
Meredith has earned an impressive reputation for her skill and abilities in Commercial Litigation and Administrative Law, appearing at all levels of court in Ontario, before the British Columbia Court of Appeal, and before the Supreme Court of Canada.
