The liquidator of a credit union made a claim under a fidelity insurance bond for losses caused by the dishonest conduct of its general manager and other employees.
The motion judge granted summary judgment in favour of the credit union.
The insurers appealed.
The Court of Appeal allowed the appeal, finding that while the uncontested facts supported a finding of direct loss resulting from dishonest acts, there were genuine issues for trial regarding whether the acts constituted a single scheme, and whether the bond's termination and notice conditions applied.