The plaintiff sought approval of a $17.5 million settlement with the remaining defendants in a class action regarding a charitable tax scheme.
The court approved the settlement as fair and reasonable, noting the significant risks of further litigation, including enforcement issues in Bermuda.
The court also approved class counsel's 33% contingency fee of $5,829,427.20 plus HST, and a $50,000 honorarium for the representative plaintiff, who made extraordinary efforts and financial sacrifices.
A costs request by third parties was dismissed.
