Summary
"It's a real step forward for the class action," Winnipeg lawyer Jay Prober said. "It adds a lot of momentum to the case."
In November 2007, [Russ Holmes] released a report following an exhaustive investigation of documents left behind when Crocus went into receivership in June 2005. In that report, Holmes made a pointed argument to the court to cut off the officers and directors from any additional support for legal fees, saying they failed to act in good faith.The officers and directors responded by attacking Holmes, accusing him of being in a conflict of interest and of wasting shareholder money on the investigation. Holmes spent nearly $1 million on the record's review.See the full content of this document
Extract
Class-Action Suit Headed for Deal
Directors removed as defendants
A framework for a settlement has been reached that could see Chubb Insurance Company of Canada pay out as much as $5 million in exch...See the full content of this document
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