In September 2011, Roy O’Connor LLP launched a proposed class action against the Remington Group to recover excess development fees / charges that the plaintiff alleges should not have been paid by purchasers of the Downtown Markham property development located in Markham, Ontario.
The plaintiff seeks to recover those excess charges, court costs and taxes, on behalf of all Downtown Markham residential property purchasers that paid those excess charges. The allegations in the statement of claim have not yet been proven in Court.
Settlement Approved by the Ontario Superior Court of Justice for Excess Development Fees
In January 2013 the plaintiff and defendants agreed to a settlement in the matter wherein the defendants agreed to pay $578,000.00 into a Settlement Fund to be distributed as follows:
1. Class Members Who Did Not Sign a Release – The sum of approximately $400,000 is to be divided among the Class Members, that did not sign a release on closing. Final compensation paid to Class Members will depend upon, among other things, how much the Class Member was charged and how many Class Members participate in the settlement.
For example, if a Class Members paid $3,000 he or she should recover approximately $1981.60 less Court-approved legal fees. As the Court has approved a contingency fee of 25%, net recovery would amount to $1,486.20.
2. Previously Releasing Class Members – The sum of $32,625 shall be divided equally among these individuals resulting in a net payment of $225.00 per class member;
3. Costs & Administration – The sum of approximately $144,500 plus disbursements shall be paid to Class Counsel as a contribution towards its fees, expenses and/or taxes.
On March 6, 2013, the Ontario Superior Court of Justice approved the settlement as being fair, reasonable and being in the best interests of the Class. The defendants made no admission as to liability as part of this settlement. The settlement is currently being administered by Roy O’Connor LLP.
To view or download a copy of the Court’s Reasons for Decision in certifying and approving the settlement in this matter please click here: Reasons for Certification and Approval of Settlement Sa’d v. The Remington Group et al.
To view of download a copy of the Court-approved notice of settlement approval please click here: Notice of Settlement.
To view or download a copy of the Order approving the settlement please click here: Court Order Certification and Settlement Approval.
For more information about this settlement please contact Carolyn Filgiano at: