
The Supreme Court of Canada granted leave in a case that could clarify spoliation remedies, and particularly where a party destroys or refuses to produce documents relevant to damages. The case involves the world’s largest hedge fund and private equity administrator, SS&C Technologies Canada Corp. (“SS&C”), and the world’s largest custodial bank, Bank of New York Mellon Corporation (“BNY”) and its affiliate, CIBC Mellon Global Securities Services Company (“CIBC Mellon”). SS&C had a contract with BNY’s predecessor and a similar one with CIBC Mellon for the provision of market pricing data for securities. CIBC Mellon subsequently terminated its contract with ... [more] Full article