UPDATE ON TD LITIGATION DEVELOPMENT
The Joint liquidators are pleased to report that the Ontario Superior Court of Justice has directed that our $5 billion damages claim based on a charge of negligence against TD Bank, be set down for a trial starting in January 2021. The trial is estimated to last between 2.5 and 3 months.
This is a significant development nearly 8 years after we filed the claim against TD Bank in August 2011. The claim has been strongly resisted by TD Bank and numerous challenges have been overcome to progress the claim to this stage. While January 2021 is still 18 months away, there remains a lot of work required to prepare for a trial of this complexity and length. We will be working closely with our legal team to ensure that we are fully prepared for the commencement of the trial.
