On 17 November 2022, the Court of Appeal for Ontario dismissed the Joint Liquidators’ Appeal of the Ontario Court’s June 2021 decision which dismissed the Joint Liquidators’ claim for approximately US$4.5 billion in damages from Toronto-Dominion Bank.
The decision is deeply disappointing given that this claim represents a major prospect of a material recovery for the thousands of creditors around the world who were victims of Allen Stanford’s massive ponzi scheme. The Joint Liquidators are considering the decision including what steps for further appeal may be appropriate.
A further update will be provided in due course.
Link to judgment: https://coadecisions.ontariocourts.ca/coa/coa/en/item/21002/index.do
