Stephen Fitterman

Two sets of appellants (manufacturers of optical disc drives) appealed the certification of a price-fixing class proceeding in British Columbia.

The majority held that the discoverability rule applies to extend the two-year limitation period in s. 36(4)(a)(i) of the Competition Act, that fraudulent concealment can toll a limitation period without requiring a special relationship between the parties, that umbrella purchasers (persons who bought from non-defendant manufacturers) have a cause of action under s. 36(1)(a), that s. 36(1) does not bar concurrent common law and equitable claims, and that a plaintiff's expert methodology need only establish that overcharges reached the indirect-purchaser level to certify loss as a common issue.

Côté J. dissented in part, finding that the discoverability rule does not apply to s. 36(4)(a)(i) and that umbrella purchasers have no cause of action under s. 36(1).

Both appeals were dismissed.

The appellants, holders of Asset Backed Commercial Paper (ABCP) notes, appealed a decision sanctioning a restructuring plan under the Companies' Creditors Arrangement Act (CCAA).

The plan included comprehensive releases of third-party financial institutions from liability, including certain claims relating to fraud.

The appellants argued the CCAA does not permit third-party releases and that the releases were unconstitutional.

The Court of Appeal dismissed the appeal, holding that the CCAA permits third-party releases that are reasonably connected to the proposed restructuring.

The Court found the application judge did not err in concluding the plan was fair and reasonable, as the releases were necessary for the restructuring to succeed and benefited the creditors as a whole.