While not admitting liability for the claims advanced under this Class Action, the owners, landlords and agents of 260 Wellesley Street East (together, the “Defendants”) have agreed to a proposed settlement of this Class Action that will provide compensation to eligible persons who on January 22, 2019 were tenants at 260 Wellesley (the “Building”) or were present in the Building on January 22, 2019 (the “Class Members”). This proposed settlement is conditional on approval of the Court.
The proposed settlement includes all persons who, on January 22, 2019 were tenants at 260 Wellesley and all other visitors of tenants who were present at the Building on January 22, 2019.
The Defendants have agreed to pay the all-inclusive sum of up to $935,000.00 (the “Settlement Amount”) to settle the Class Action and compensate all Class Members, in return for releases from liability and a dismissal of the Class Action. The proposed settlement is subject to Court approval. You are not entitled to receive the proceeds under the Proposed Settlement until it is approved by the Court and, subsequently, until your claim is approved pursuant to the claims administration process. The settlement, if approved, will conclude the Class Proceeding.
Class Counsel will seek Court approval of an all-inclusive fee of $292,500.00 (equivalent to a 27.2% contingency fee plus HST and disbursements). Class Counsel will not be paid until the Court declares that the proposed legal fees are fair and reasonable.
If the settlement is approved, each successful claimant may receive up to a maximum of $600.00 for general inconvenience and displacement. This sum may be reduced depending on how many people make eligible claims.
Class Members may additionally receive up to a maximum of $1,000.00 to compensate for certain injuries sustained due to the flood and power outage that occurred between January 22, 2019 and January 27, 2019. This additional sum for injury compensation may be reduced depending on how many people make eligible claims.
Any Net Settlement Funds remaining following the payment of claims shall be returned to the Defendants.
The Approval Hearing will take place virtually on June 21, 2021 at 10 AM. The Log-in details are as follows;
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The hearing may be moved to different dates and times without additional notice. Please check back here or call Landy Marr Kats LLP in advance if you are planning to attend.
If you want to object to the proposed settlement, you should do so by writing a letter to Class Counsel stating that you object to the proposed settlement. Your objection must include:
- Your full name, current mailing address, email address and telephone number;
- A brief statement of the reason(s) for your objection;
- Your signature or the signature of you legal agent, acting with your instructions.
To be considered by the Court, your letter must be received by Class Counsel by mail no later than June 14, 2021, at the address below:
VADIM KATS (lawyer)
LANDY MARR KATS LLP
2 SHEPPARD AVENUE EAST, SUITE 900
TORONTO, ON M2N 5Y7
Any Class Members may attend at the Approval Hearing. Persons attending to object to the Settlement Agreement must send a letter to Class Counsel stating their objection as outlined above.
After the hearing, the Court will decide whether to approve the proposed settlement and Class Counsel’s fees. We do not know how long these decisions will take.