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…
On Friday, October 18, 2013, the Ontario Superior Court of Justice approved the settlements with the Law Firm Defendants (including Edwin C. Harris Q.C.), and with the Funds for Canada Foundation, Mary-Lou Gleeson, Matt Gleeson and Gleeson Management Associates Inc. (the “FFCF/Gleeson Defendants”). The settlement agreements are available to be viewed here: The Orders of…
Now that the Third Party Claims against ParkLane’s Distributors have been stayed, the Action will be proceeding to the next steps in the litigation. This will involve an exchange of all relevant documentation between the parties, followed by examinations for discovery (depositions) of all the parties. This will be a lengthy and time consuming process.…
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 has been adjourned to Friday, November 1, 2013. If the Court makes the order requested, then the Third Party Claim against the…
By order of the Court dated September 18, 2013, the opt out period for Class Members who were also ParkLane’s distributors, and who have been named as Third Parties will expire on Wednesday, November 20, 2013 at 5 pm.
On Friday, October 18, 2013, the Ontario Superior Court of Justice approved the settlements with the Law Firm Defendants (including Edwin C. Harris Q.C.), and with the Funds for Canada Foundation, Mary-Lou Gleeson, Matt Gleeson and Gleeson Management Associates Inc. (the “FFCF/Gleeson Defendants”). The settlement agreements are available below. The settlement with the FFCF/Gleeson Defendants…
The Plaintiff’s motion record in support of the motion for settlement approval is available for review. For Class Action information on LMK Lawyers, please download the pdf by clicking here: Part 1 Part 2
Further to our original post of August 12, 2013: The notice advising class members about the motion for settlement approval has been delivered to the last known address for all class members. For Class Action information on LMK Lawyers, please download the pdf by clicking here: English French
By order of the Court dated September 18, 2013, the opt out period for Class Members who were also ParkLane’s distributors, and who have been named as Third Parties will expire on Wednesday, November 20, 2013 at 5 pm.
A copy of the Notice of Court Hearing for Settlement Approval can be found here.
The Plaintiff has entered into settlements with the Law Firm Defendants, including Edwin C. Harris Q.C., and with the Funds for Canada Foundation, Mary-Lou Gleeson, Matt Gleeson and Gleeson Management Associates Inc. (the “FFCF/Gleeson Defendants”). The settlement agreements are available here and here. Both settlements remain subject to the Plaintiff obtaining court approval. The motion…
ParkLane has now paid the overdue costs awards made against it, and the motion is settled.
For Class Action information on LMK Lawyers, please download the pdf by clicking here: Order extending opt-out for Third Party Defendants
A nation-wide class proceeding has been certified by the Ontario Superior Court of Justice. On January 18, 2012, Cannon v. Funds for Canada Foundation et al., Court File No. CV-08-362807 CP was certified as a class proceeding, and Michael Cannon was appointed as the representative plaintiff on behalf of the Class (the “Class Action”). The…
Landy Marr Kats LLP and Paliare Roland LLP are pleased to provide an update on the latest developments in this class action. The Action has Been Certified as a Class Proceeding Next Steps in the Litigation Clearing up Confusion about the pending CRA Appeals For Class Action information on LMK Lawyers, please download the pdf…
On October 29, 2012 the Divisional Court dismissed all the defendants’ motions for leave to appeal from the certification order and the dismissal of ParkLane’s and the Lawyers’ motions for summary judgment. The case will now be proceeding to the next steps in the litigation which involve an exchange of all relevant documentation between the…
All of the Defendants are seeking leave to appeal the certification of this action to the Divisional Court. The leave to appeal will be heard by the Divisional Court on June 28, 2012, at Osgoode Hall, located at 130 Queen Street, Toronto, Ontario. At this point, there is no action required to be taken by…
You will recall that the motion for certification of this action as a class proceeding was argued on August 22 – 25, 2011. At the same time, ParkLane and the defendant Law Firms sought to have Mr. Cannon’s claims against them dismissed on a summary judgment basis. On January 18, 2012, the court issued its…
The motion for certification of this action as a class proceeding was argued on August 22 – 25, 2011. At the same time, Park Lane and the Lawyer defendants sought to have Mr. Cannon’s claims against them dismissed on a summary judgment basis. On January 18, 2012, this action was certified as a class proceeding…
The Plaintiff has now obtained Stage One and Two funding from the Class Proceedings Fund for this action. Stage One refers to any steps taken up to the end of the hearing of a motion for an order of the court certifying the proceedings as a class proceeding. Stage Two refers to appeals of any…
The motion for certification of this action as a class proceeding is scheduled to proceed on August 22 – 25, 2011 before Justice Strathy, at the Court House, 361 University Avenue, Toronto, Ontario. At the same time, two of the Defendants are seeking to have parts of the case dismissed by way of Summary Judgment.…
The defendants move to exclude the affidavit of Vern Krishna CM, Q.C., sworn February 1, 2011 (the “Krishna Affidavit”), filed by the plaintiff, from the evidence that will be before this Court on the plaintiff’s motion for certification and the defendants’ motion for summary judgment. Alternatively, the defendants seek to exclude certain portions of the…
Landy Marr Kats LLP is once again standing up for the Canadians in another class action. On September 18, 2008 a new class action was launched by Landy Marr Kats LLP. Michael Cannon as Representative Plaintiff seeks $50 million dollars in damages on behalf of himself and all investors in the Donations Canada Charitable Donation…
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