Patricia O’Malley

The appellant bank appealed reassessments denying GST/HST rebates for amounts paid to a loyalty program operator.

The bank argued that the reward points it purchased were 'gift certificates' under section 181.2 of the Excise Tax Act, meaning no GST should have been charged.

The Tax Court of Canada found that the predominant element of the supply was the reward points, not marketing services.

However, the Court concluded that the reward points were not gift certificates because they lacked a stated monetary value, were not freely transferable, and required the accumulation of more points to be used.

The appeals were dismissed.

The plaintiff sought leave to commence a secondary market misrepresentation claim under the Securities Act and certification of a class proceeding against Wheaton Precious Metals Corp. and its officers.

The plaintiff alleged the defendants failed to disclose a material tax liability arising from a CRA audit regarding transfer pricing.

The court dismissed the motion for leave, finding no reasonable possibility of success at trial because the plaintiff's expert evidence was inadmissible or unreliable, and the defendants' disclosures accurately reflected management's reasonable assessment of the tax risk.

The court also declined to certify the common law and prospectus misrepresentation claims, finding a class proceeding was not the preferable procedure and the claims did not disclose a reasonable cause of action.

The plaintiff brought motions for approval of a class action settlement, plan of distribution, and class counsel fees in a securities class action alleging goodwill misrepresentation.

The court approved the settlement of US$3.65 million, finding it fair and reasonable given the significant risks of the litigation, including the primary market claims being potentially statute-barred and the defendants' dwindling insurance proceeds.

The court also approved the plan of distribution, the appointment of the settlement administrator and referee, and class counsel's 33% contingency fee of $1,353,246.25.

The appellants, life insurance companies, appealed a trial judgment finding that transactions involving their participating accounts to finance a corporate acquisition breached the Insurance Companies Act.

The Court of Appeal upheld the trial judge's findings that the transactions breached the Act by failing to comply with generally accepted accounting principles, improperly allocating expenses, and constituting prohibited transfers.

However, the Court allowed the appeal in part regarding the remedy, finding that the trial judge's order to return $390 million to the participating accounts via litigation trusts was overly broad and akin to an oppression remedy not available under the Act.

Instead, the Court ordered the transactions unwound as of the present, with adjustments for expense savings already received.