Levy v. Nelbar Financial Corporation

Levy v. Nelbar Financial Corporation

The guilty plea and related factual admissions established that the appellant's fraudulent conduct caused the losses and supported class-wide liability; the damages were adequately assessed by reference and approved; therefore there was no genuine issue for trial and summary judgment was properly entered and upheld on appeal.

Citation
C44424
Parties
Plaintiff/respondent: Percy Levy; Defendant/appellant: Nelbar Financial Corporation; Defendant/appellant: Essex Capital Management Ltd.; Defendant/appellant: George Nelson Allen; Defendant/appellant: Robin Moriarty; Defendant/appellant: Barbara Allen; Defendant/appellant: Woodbine Driving Range Limited (formerly 884085 Ontario Limited); Defendant/appellant: 1272327 Ontario Inc.; Defendant/appellant: Nelson Allen Financial Corporation; Defendant/appellant: Kukoke Holdings Inc.
Court
Court of Appeal for Ontario
Jurisdiction
Canada
Judgment Date
25 May 2006
Procedural Posture
Civil / Court of Appeal Appeal From Summary Judgment of Superior Court
Outcome
Appeal dismissed; summary judgment of the Superior Court upheld.
Legal Topics
Summary Judgment, Guilty Plea Admissions, Causation, Damages Assessment by Reference, Receivership, Class Wide Liability
Source Language
English
Class Action Fraud Civil Procedure Costs Regulatory Enforcement Summary Judgment Guilty Plea Admissions Causation +3 more

Case Brief

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Parties

Percy Levy

Plaintiff/respondent

Nelbar Financial Corporation

Defendant/appellant

Essex Capital Management Ltd.

Defendant/appellant

George Nelson Allen

Defendant/appellant

Robin Moriarty

Defendant/appellant

Barbara Allen

Defendant/appellant

Woodbine Driving Range Limited (formerly 884085 Ontario Limited)

Defendant/appellant

1272327 Ontario Inc.

Defendant/appellant

Nelson Allen Financial Corporation

Defendant/appellant

Kukoke Holdings Inc.

Defendant/appellant

Procedural Posture

Civil / Court of Appeal Appeal From Summary Judgment of Superior Court

Legal Issues

  1. 1 Whether there was a genuine issue for trial as to the cause of the loss
  2. 2 Whether the appellant's guilty plea admissions support class-wide liability
  3. 3 Whether damages were adequately assessed by reference to support summary judgment

Ratio Decidendi

The guilty plea and related factual admissions established that the appellant's fraudulent conduct caused the losses and supported class-wide liability; the damages were adequately assessed by reference and approved; therefore there was no genuine issue for trial and summary judgment was properly entered and upheld on appeal.

Court Disposition

Appeal dismissed; summary judgment of the Superior Court upheld.

Orders

  • Summary judgment against the appellant for $10,610,807.94 to the persons listed in Master Linton's Interim Reports #1 and #2, plus post-judgment interest and $3,500.00 for costs of the motion
  • Costs to the respondent in the amount of $14,500.00 inclusive of disbursements and GST