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Dec 17, 2014

Court of Appeal for Ontario Upholds Reduction of Legal Fees in Insolvency Matter

*This article appeared December 2014 issue of Aird & Berlis LLP Financial Services Flash and is written by Brett Kenworthy.

On December 1, 2014, the Court of Appeal for Ontario (the “Court of Appeal”) released its decision, written for the Court of Appeal by Madam Justice Pepall, in Bank of Nova Scotia v. Diemer, 2014 ONCA 851 (“Diemer”). The Court of Appeal dismissed the court-appointed
receiver’s (the “Receiver”) appeal of the order of Justice Goodman, which, among other things, reduced the fees of counsel (“Counsel”) to the Receiver. In its decision, the Court of Appeal found that the motion judge (Justice Goodman) made findings of fact based on the record and is owed deference in this respect. The Court of Appeal also found that the motion judge considered the correct factors in coming to a decision on fees and that the appellant failed to establish any palpable and overriding error made by the motion judge.

To read the full Financial Services Flash, please click here.

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