Open Bidding For Cy-Près Awards?

It has been suggested by some that Justice Perell's recent decision in Carom v. Bre-X Minerals Ltd., 2014 ONSC 2507 ("Bre-X")[1], opens the floodgates to a competitive bidding process for cy-près awards before the Court, an institution ill-equipped to award grants, and is held out by some as one example of what is wrong with class actions.  However, a close reading of Justice Perell's reasons demonstrates that his ruling is in keeping with the law that a settlement approval judge can only approve or reject a settlement and that the ability to structure a settlement rests with the parties.  The parties can agree to leave specific elements to be administered or determined by the Court but there are responsibilities that Class counsel cannot delegate.  Only where the parties have given the Court authority to administer an already approved settlement and Class counsel have not fulfilled their responsibilities will the Court intervene.