Lenczner Slaght's Trial Lawyers Successful In $259 Million Judgment For Public Sector Funds

In WSIB Investments (Infrastructure) Pooled Fund Trust v Plenary Group (Canada) Ltd, our expert litigators were successful in obtaining a $259 million judgment in disgorgement for our clients, two employee pension and injured workers funds, against the Defendants for breach of fiduciary duty, knowing assistance, and knowing receipt. The 7-week trial before the Manitoba Court of King's Bench was the first fully electronic trial to be completed in the province.

This decision reinforces the foundational fiduciary duties owed by general partners to limited partners and the consequences that arise when general partners and their related entities elevate their own interests over those of their limited partners. The Court held that collective actions of jointly controlled fiduciaries, corporate entities, and individuals can result in joint liability for which all are held to account, be it in breach of fiduciary duty, knowing assistance or knowing receipt.