No more money for Money Mart class action counsel

The Ontario Court of Appeal has denied a request for $20 million in legal fees by four law firms representing the class in the Money Mart criminal interest class action litigation. The firms originally requested $27 million, but were allowed only $14.5 million by Ontario Superior Court Justice Paul Perell in a ruling last March.

The National Post
March 28, 2011

No more money for Money Mart class action counsel
Julius Melnitzer

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A Money Mart location in Toronto

The Ontario Court of Appeal has denied a request for $20 million in legal fees by four law firms representing the class in the Money Mart criminal interest class action litigation. The firms originally requested $27 million, but were allowed only $14.5 million by Ontario Superior Court Justice Paul Perell in a ruling last March. The law firms involved were Sutts, Strosberg; Heenan Blaikie; Paliare Roland Rothstein Rosenberg; and Koskie Minsky. All were represented by Terrence O’Suillivan and James Renihan of Lax O’Sullivan Scott.

“The decision in Smith v. Sutts, Strosberg goes through principles under Ontario’s statute but will likely have considerable impact in class actions in all common law provinces as it turns, not on Ontario’s fee multiplier provisions, but rather on the contingency fee provisions,” says Barry Glaspell of Borden Ladner Gervais.

http://business.financialpost.com/2011/03/28/no-more-money-for-money-mart-class-action-counsel/


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