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Koskie Minsky LLP

Koskie Minsky LLP

OMERS/Borealis


Overview

This representative action against the Ontario Municipal Employees Retirement Board, Borealis Capital Corporation, Borealis Real Estate Management Inc., Ian Collier, R. Michael Latimer and Michael Nobrega alleges that the Defendants breached their trust and fiduciary duties owed to the Plaintiffs and all members of the Ontario Municipal Employees Retirement System Pension Plan (the "Plan") and that the individual Defendants were unjustly enriched by entering into certain transactions which favoured them at the expense of the Plan. The Plaintiff seeks a series of declarations, damages and restitution to the OMERS Pension Fund (the "Fund") on behalf of all Members of the Plan.

By reasons dated February 16, 2006, the Ontario Superior Court appointed Wyman MacKinnon as the representative Plaintiff on behalf of persons who have a present, future, contingent or unascertained interest in these proceedings.

IMPORTANT NOTICE: Justice Morawetz of the Ontario Superior Court of Justice approved the settlement agreement submitted by the parties as being fair, reasonable, and in the best interests of all represented persons.  To view the signed, issued and entered Order of the Court, click here.

Completed



Latest Developments

October 30, 2012

Justice Morawetz of the Ontario Superior Court of Justice approved the settlement agreement submitted by the parties as being fair, reasonable, and in the best interests of all represented persons.  To view the signed, issued and entered Order of the Court, click here.  This case is therefore concluded.

August 3, 2012Justice Morawetz of the Ontario Superior Court of Justice released Reasons for Decision in support of the settlement approval order. To view the Court’s Reasons for Decision, click here.

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