'Smith Estate V. National Money Mart Co': What You Need To Know About The Conflict Between Arbitration And Class Proceedings Statutes In Ontario.
Mondaq Business Briefing › Nbr. 2009, January 2009
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'Smith Estate V. National Money Mart Co': What You Need To Know About The Conflict Between Arbitration And Class Proceedings Statutes In Ontario.
The following recent Ontario Court of Appeal decision will be of interest to financial services industry participants who have been tracking class action trends in the financial services sector. The decision addresses the trend in the context of arbitration clauses.
Smith Estate v. National Money Mart is a class action where the plaintiff class asserts that Money Mart was charging illegal rates of interest on payday loans.1 The contracts contained an arbitration clause, which, if upheld, would have denied the plain...See the full content of this document
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