The plaintiff, Erwin Banfi, brought a motion for approval of a class action settlement and class counsel fees against multiple municipal and provincial defendants concerning alleged increased flood risk and reduced property values due to overdevelopment in Oakville.
The action, initially premised on property diminution, shifted focus due to difficulties in proving causation and quantifying individual damages.
The proposed settlement involved a $500,000 payment by defendants to the Intact Centre on Climate Adaptation for a flood education and protection program for class members, and class counsel fees of $495,000.
The court approved the cy-près settlement, finding it fair, reasonable, and in the best interests of the class, given the litigation's challenges and the material benefit provided to class members.
Class counsel fees and a $5,000 honorarium for the representative plaintiff were also approved.
