International Capital Management Inc.
Overview:
This class action seeks compensation arising from allegedly improper referral fees paid by International Capital Management Inc., a mutual fund dealer. The defendants are International Capital Management Inc., its officers and related companies.
Class Definition:
The action is brought on behalf of the holders of unsecured promissory notes granted by Invoice Payment Systems Corp.
Recent Developments:
September 26, 2024: The motion for certification was heard by the Court, and the Court reserved its decision.
June 7, 2024: The appeal was granted and the plaintiff was successful. The rest of the certification motion is scheduled to be heard on September 25 and 26, 2024.
September 19, 2023: The appeal was heard before the Court of Appeal for Ontario who reserved its decision.
May 30, 2023: The appeal has been scheduled for September 19, 2023.
October 18, 2022: The Court of Appeal for Ontario granted leave to appeal. A hearing date will be set once the appeal has been perfected.
March 18, 2022: The appeal before the Divisional Court was dismissed. The Plaintiff has sought leave to appeal to the Court of Appeal for Ontario.
November 8, 2021: The appeal was argued and the Divisional Court has reserved its decision.
March 15, 2021: The Plaintiff has appealed the order dismissing the motion for certification. The appeal is scheduled for November 8, 2021.
January 26, 2021: The motion judge dismissed the plaintiff’s motion for certification.
December 21, 2020: The hearing of the motion for certification was completed. The motion judge reserved his decision.
November 27, 2020: The hearing of the motion for certification has been re-scheduled for December 18, 2020.
April 21, 2020: The hearing of the motion for certification is scheduled for November 16-18, 2020.
September 20, 2019: A copy of the Statement of Claim is available here.
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