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Business Development Bank of Canada
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FREQUENTLY ASKED QUESTIONS
Who pays the cost of pursuing the claim?
We do. We will be compensated for our time and disbursements only if we achieve
a successful recovery for the plaintiffs.
How will I keep informed of developments?
This web site will be periodically updated to report material events.
What is certification of a class proceeding?
Certification of a class proceeding is an order which certifies the proceeding
as a class proceeding and which appoints a person as Representative Plaintiff
for the class. The criteria for granting certification are set out on Section
4(1) of the British Columbia Class Proceedings Act which states as
follows:
4(1) The court must certify a proceeding as a class proceeding on an
application under section 2 or 3 if all of the following requirements are met:
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the pleadings disclose a cause of action;
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there is an identifiable class of 2 or more persons;
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the claims of the class members raise common issues, whether or
not those common issues predominate over issues affecting only individual
members;
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a class proceeding would be the preferable procedure for the
fair and efficient resolution of the common issues;
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there is a representative plaintiff who
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would fairly and adequately represent the interests of the
class,
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has produced a plan for the proceeding that sets out a workable
method of advancing the proceeding on behalf of the class and of notifying
class members of the proceeding, and
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does not have, on the common issues, an interest that is in
conflict with the interests of other class members.
(2) In determining whether a class proceeding would be the
preferable procedure for the fair and efficient resolution of the common
issues, the court must consider all relevant matters including the following:
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whether questions of fact or law common to the members of the
class predominate over any questions affecting only individual members;
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whether a significant number of the members of the class have a
valid interest in individually controlling the prosecution of separate actions;
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whether the class proceeding would involve claims that are or
have been the subject of any other proceedings;
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whether other means of resolving the claims are less practical
or less efficient;
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whether the administration of the class proceeding would create
greater difficulties than those likely to be experienced if relief were sought
by other means.
Will I be bound by the decision of the court?
Under British Columbia’s class proceedings legislation, different rules apply
depending upon the individual’s province of residence. If you were a resident
of British Columbia on February 16, 2006, you must opt out of proceeding by
mailing or delivering an opt out form, no later 60 days prior to the trial. If
you were not a resident of British Columbia on February 16, 2006, you must opt
in to the proceeding, by mailing or delivering an opt in form, no later than 60
days prior to the trial. Opt in and opt out forms should be forwarded to the
following address: Klein Lyons
Barristers & Solicitors
1100 - 1333 West Broadway
Vancouver, BC V6H 4C1 Will I be liable for any court costs?
Individual class members are not liable for any court costs.
I still have questions…
Please feel to contact us at our 24 hour toll-free number (1 866-474-1741)
where we record the current status of this matter and where you may leave us a
detailed message.
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