In a securities class action arising from the collapse of a forestry company, the plaintiffs sought approximately $2.6 million in costs following certification and leave motions brought under the Class Proceedings Act, 1992 and the Securities Act.
Several defendants argued that costs should not be awarded because the plaintiffs had already recovered legal expenses through settlements with other defendants and because the claimed costs were excessive.
The court held that the plaintiffs were largely successful but not entirely successful due to an unresolved assignment issue affecting certain class members.
The court also ruled that disbursements could not be recovered again because they had already been indemnified through settlements.
Exercising its discretion, the court ordered a hybrid costs award: part payable immediately and part payable in the cause.
