
In a unanimous decision released this morning in Grant Thornton LLP v. New Brunswick, the Supreme Court of Canada restored a judgment of the New Brunswick Queen’s Bench that dismissed as statute-barred a $50 million claim brought by New Brunswick against accounting firm, Grant Thornton LLP. The claim stemmed from a loan guarantee that was given by the Province of New Brunswick that allowed the Atcon Group of Companies (“Atcon”) — a New Brunswick-based provider of construction, energy, industrial and waste management services – to borrow $50 million from the Bank of Nova Scotia in 2009. On April 24, 2009, ... [more] Full article