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ARTICLE · 16 JANUARY 2025

Overcoming Limitations Act Issues To Realize The Value Of Icebreaker Settlements

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The Ontario Court of Appeal in Di Filippo v Bank of Nova Scotia provides guidance on how to navigate limitations period issues when adding new defendants to an action based on information received...

CanadaLitigation, Mediation & Arbitration
Howard Borlack
Howard Borlack
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The Ontario Court of Appeal in Di Filippo v Bank of Nova Scotia provides guidance on how to navigate limitations period issues when adding new defendants to an action based on information received from an icebreaker settlement.

Background

The appellate decision in Di Filippo v. Bank of Nova Scotia clarifies how limitation periods will impact class action proceedings when additional defendants are added after an "icebreaker settlement". The case involves a class of investors suing various banks for "spoofing" to fix the global trading prices of gold and silver. "Spoofing" is the practice placing purchase orders which are then cancelled before fulfillment to manipulate a price.

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