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ARTICLE · 07 NOVEMBER 2013

Third Party Funding Approved To Protect Class Action Plaintiffs Against Adverse Costs

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In Bayens v. Kinross Gold Corporation, 2013 ONSC 49742, Justice Perell granted an unopposed motion to allow the use of third party litigation funding in an Ontario class action. Trustees of the Musician’s Fund of Canada brought a securities market misrepresentation claim against the Kinross Gold Corporation and its directors.

CanadaLitigation, Mediation & Arbitration
Jason Squire
Jason Squire
Andrew Sprung (Student-At-Law)
Andrew Sprung (Student-At-Law)
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In Bayens v. Kinross Gold Corporation, 2013 ONSC 4974, Justice Perell granted an unopposed motion to allow the use of third party litigation funding in an Ontario class action. Trustees of the Musician's Fund of Canada (the "Pension Fund") brought a securities market misrepresentation claim against the Kinross Gold Corporation and its directors.  

The Pension Fund approached Harbour Litigation Funding ("Harbour"), a private litigation funder from the UK, after being rejected for funding by the Ontario Class Proceedings Fund. The Pension Fund's lawyers agreed to act on a contingency fee basis, but were not prepared to bear the additional risk of indemnifying the Pension Fund against adverse costs awards.

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