In Chan v. City Commercial Realty Group Ltd., the court “pierced the corporate veil” to hold the principals of a real estate brokerage personally liable for the debts of their corporation. The corporate defendant, City Commercial Realty Services (Canada) Ltd. (“City 1”), had initially sued the plaintiffs in respect of a real estate transaction, which [...]
The self regulatory organization for mutual fund dealers, the Mutual Fund Dealers Association of Canada ("MFDA"), made an interesting decision on May 8, 2012 on a motion by a branch manager to strike out a regulatory proceeding arising from allegations that he failed to adequately monitor and report the wrongful activities of an insurance salesperson [...]
By Kenneth Dekker
May 10th, 2012
Broker/Dealer litigation, Securities Litigation
In a decision released in February, Ontario Superior Court Justice J. B. Shaughnessy certified a class action against mutual fund dealer Investia Financial Services Incorporated, its franchisee, Money Concepts (Barrie), and two of its former registered salespersons, David Karas and James Stephenson, relating to allegedly improper leveraging strategies that were used in the purchase of [...]
By Kenneth Dekker
April 25th, 2012
Class Actions, Commercial Litigation, Securities Litigation
In the case of Sivaji v. Rajwani, [2011] O.J. No. 6270, 108 O.R. (3d) 478, the Ontario Superior Court of Justice allowed a Request to Admit to be served during a long adjournment of the trial. Justice A.D. Grace found that there is no inviolate rule that service of a Request to Admit has to [...]
Earlier today, Canada's Supreme Court released a trilogy of long-awaited decisions in which it set universal rules on when courts across Canada can properly take jurisdiction over claims against foreign defendants. The first two cases, Club Resorts Ltd. v. Van Breda et al. and Club Resorts Ltd. v. Charron et al., related to claims brought [...]
By Kenneth Dekker
April 18th, 2012
Commercial Litigation, Conflicts of Law and Enforcement of Foreign Judgments, Defamation