The plaintiffs, investors in syndicated mortgages, brought a motion to amend their Statement of Claim to explicitly plead fraud and conspiracy against the defendant appraisers.
The defendants opposed the amendments, arguing they introduced new causes of action after the expiry of the limitation period.
The court granted leave to amend, finding that while the original pleading was minimalist, the material facts of intentionality and collusion were already present, meaning the amendments merely embellished existing claims rather than introducing new, time-barred ones.
The plaintiffs were also permitted to discontinue their claims against several other defendants without costs.
