On Friday, April 28, 2017 the court approved the final settlement in this matter. All claims, counterclaims, cross-claims and Third Party Claims have been dismissed. A copy of the settlement approval order may be accessed below. The settlement provides for the payment of $17.5 million. After payment of legal fees, the Class Proceedings Fund levy and…
Settlement reached with the Remaining Defendants – ParkLane Financial Corporation, Trafalgar Associates Limited, Trafalgar Trading Limited, and Appleby Services (Bermuda) Limited as the Trustee of the Bermuda Longtail Trust On March 8, 2017, the Plaintiff entered into a settlement agreement with the remaining Defendants in this action. Under the terms of the proposed settlement, the…
The Plaintiff’s motion to add Edward Furtak as a Defendant was dismissed on March 23, 2015, by Belobaba J.
It has been brought to our attention that CRA is now making offers to settle to class members who filed valid Notices of Objection when their taxes were reassessed by CRA disallowing the tax credits for participation the Donations for Canada Gift Program. If you filed a Notice of Objection, you will receive a letter…
In 2009 the action was settled against Edward Furtak on certain conditions, including that he provide truthful answers to questions put to him on an examination by class counsel. A motion has now been scheduled with the court to be argued on September 24, 2014 to set aside that settlement and add Mr. Furtak as…
The Plaintiff brought a motion to refine the common issues to be tried by the Court, and sought a court order to stay the Third Party claims brought against ParkLane’s Distributors. The motion was originally scheduled for October 17 – 18, 2013, but was adjourned several times before it was ultimately argued on February 14,…
The deadline for delivering a claim form to receive a share of the settlement proceeds from the settlements with the Law Firm Defendants and the FFCF/Gleeson Defendants expired on Friday, February 28, 2014, except for those Third Parties who are represented by either Rochon Genova LLP or Crawley MacKewn Brush, who have until March 14,…
To All Class Members who participated in the ParkLane Donations for Canada charitable gift program which operated from mid-2005 to 2009: This newsletter is being sent to you by the Claims Administrator on behalf of Class Counsel, Landy Marr Kats LLP and Paliare Roland LLP. The Cannon v. ParkLane Newsletter is now available: February 14,…
Class action counsel have hired a claims administrator (Ricepoint) to process the settlement. Class members have until February 28th, 2014 to submit their claims form. If they do not submit the Claims form to the Parklane Funds Claims administrator by the deadline they will lose their right to share in the settlement. To obtain the…
Further to our original post of November 27, 2013: The Court originally approved legal fees to Class Counsel of 25% of the settlement amounts, and after receiving further written submissions, the Court has approved legal fees of 33%, in accordance with the retainer agreement made with the representative plaintiff. Fees of up to $9,303,638 plus…