Mr. Mak

Following a ten-day trial regarding an estate dispute where success was divided, the parties sought costs.

The applicants sought substantial indemnity costs of over $343,000, while the respondent sought partial indemnity costs of over $172,000.

The court reviewed the modern costs rules governing estates litigation and the indemnification of estate trustees.

Finding that all parties acted unreasonably in certain respects, were motivated by self-interest, and that the litigation fees were disproportionate to the estate's value, the court declined to award costs for legal fees to any party.

However, the court ordered that the $53,000 disbursement for the forensic accountant's report be paid to the applicants from the estate.

The plaintiffs sought leave under s. 138.8 of the Securities Act and certification under the Class Proceedings Act for a proposed securities class action.

The plaintiffs alleged that the defendants misrepresented the company's ability to maintain its dividend, causing shareholders and debenture-holders to sustain losses when the dividend was cut.

The court dismissed the leave motion, finding no reasonable possibility that the secondary market misrepresentation claims would succeed at trial, as the defendants' statements were based on a genuine belief in their growth strategy at the time.

The court also dismissed the certification motion, holding that a class proceeding was not the preferable procedure for the remaining common law negligent misrepresentation claims, which require individualized proof of reliance.