“Green” Light for Class Actions? Court of Appeal Overturns Sharma v. Timminco
Securities class actions have come full circle. Two years ago, a “thunderbolt” decision from the Ontario Court of Appeal barred class actions for secondary market misrepresentation under the Ontario Securities Act unless the plaintiffs won the court’s leave (that is, permission) to proceed within three years of the misrepresentation. The decision was Sharma v. Timminco, and the quote is from a defence counsel in Green v. CIBC, another secondary market securities class action. Justice Strathy was hearing Green‘s certification and leave motion when Sharma came out. He would have granted leave and certified the class, but three years had passed, so he applied Sharma and dismissed the motion. Green’s ... [more] Full article
Refusal to Answer Questions Lands Judgment Debtor in Jail
Even though debtors’ prison was abolished many generations ago, judgment debtors can still land themselves in jail if they refuse to answer questions on examinations in aid of execution, also ... [more] Full article
“Intentional interference with economic relations” now called “unlawful means tort” – Supreme Court of Canada clarifies test for tort
The tort of unlawful interference with economic relations has also been referred to as “interference with a trade or business by unlawful means”, “intentional interference with economic relations”, “causing loss ... [more] Full article
Reasonable Limitation: Supreme Court defers to BC Securities Commission
A recent Supreme Court decision showed the power of provincial securities commissions. In McLean v. British Columbia (Securities Commission) (2013 SCC 67, available here), McLean challenged the BC Securities Commission’s 2010 decision ... [more] Full article