Derek McKay

The appellant appealed the dismissal of a motion to certify a class action on behalf of CIBC customer service employees for unpaid overtime.

The motion judge and Divisional Court had found it plain and obvious that CIBC's policy requiring pre-approval for overtime complied with the Canada Labour Code, and that individual issues predominated.

The Court of Appeal allowed the appeal, holding that it was arguable the pre-approval requirement violated the Code's mandate to pay for overtime 'required or permitted' by the employer.

The Court also found some basis in fact that CIBC's systemic practices breached employment contracts, satisfying the common issues requirement for certification.

The appellant City purchased asset-backed commercial paper notes that subsequently collapsed in value.

The City sued the respondents for negligent misrepresentation, conspiracy, and unjust enrichment more than two years after purchasing the notes but less than two years after the notes matured and defaulted.

The Court of Appeal upheld the motion judge's summary judgment dismissing the claims as statute-barred.

The Court held that for negligent misrepresentation inducing a transaction, damage occurs when the plaintiff enters into the transaction and receives something less valuable than represented, not when the full extent of the loss is monetized.

The limitation period was not suspended by a standstill agreement or by the involvement of an investors committee.