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ARTICLE · 01 SEPTEMBER 2016

Court Of Appeal Summaries (August 22 – August 26, 2016)

Blaney McMurtry LLP
Blaney McMurtry LLP
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Topics covered include class actions -- two, one where leave to commence a securities class action under the Securities Act was refused and one where certification of a misrepresentation claim was granted.

CanadaLitigation, Mediation & Arbitration

Civil Decisions:

Fantl v. Transamerica Life Canada, 2016 ONCA 633

[Strathy C.J.O., Blair and Lauwers JJ.A.]

Counsel:

M.J. Stitt and D. McLeod, for the appellant

D. F. O'Connor and J. A. Dewar, for the respondent

Keywords: Torts, Negligent Misrepresentation, Insurance Act, Class Actions, Class Proceedings Act, Certification, Preferable Procedure, Common Issues, Individual Issues, Access to Justice, AIC Limited v. Fischer, 2013 SCC 69, [2013] 3 S.C.R. 949

Facts:

The proposed class is composed of investors in Transamerica's Can-Am Fund, an investment vehicle offered under insurance contracts sold by Transamerica between October 1992 and March 2001.

The respondent's class action encompasses 53 different insurance contracts. Five of these contained an express statement that the fund would "on a best efforts basis replicate the performance of the S&P 500 Total Return Index." The other 48 contracts did not contain this express statement.

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