This is the main page for the Platinum Equities Class Action lawsuit. Check back to this specific page frequently for updates.
We have currently had a tremendous amount of progress in this file. We had substantial difficulty in getting the Platinum defendants to provide their records. It has taken several case management meetings, several court orders and a lot of effort to force that to occur. We are now in a situation in which Mr. Chandran is compelled to attend questioning on or before August 31, 2019. If he does not attend, we will be in a position to seek to strike the defence from those parties in this action. We are currently in negotiation with one of the other defendants groups and they will either have to give us their records, or we will have a settlement with them. We will be doing questioning in the next few months and hope to be in a better position to press this toward trial. We cannot control the motivation of the parties to settle, so we are pressing toward trial where we are confident that the records and evidence will corroborate our allegations and justify the court granting us judgment. We have applied to unseal a separate court action, in which we believe there are records that relate to debt instruments and obligations between the two primary personal defendants, Mr. Mamdani and Mr. Chandran. We will be getting direction on the court’s view of that in August of 2019.
We have not seen a lot of progress on this file for a considerable time. The matter has been stalled as a result of the resistance of the Platinum Defendants to provide an affidavit of records, or to disclose records. It took us almost 2 years here to get that done. Initially, the Platinum Defendants claimed to have no records or access to them. That forced us to apply for court orders to compel law firms in possession of relevant records to turn over copies to counsel for the Platinum Defendants, in order for them to be produced to us. Mr. Chandran has outstanding criminal charges in Alberta, in relation to the Dominion property, and so we cannot yet inform you of the result or status of those charges, because the trial has been postponed twice now. We understand that trial is now proceeding in 2020.
We do hope to make substantial progress on this file through the fall. After which time, we will be having our representative plaintiffs made available for questioning and the matter will then be scheduled for trial. At any time, any of the defendant groups may opt to endeavor to settle with us. But again, we do not control that process or motivation. We are proceeding on the presumption this matter is headed toward trial.
TO ALL INVESTORS IN THE PROJECTS IMPACTED BY THIS CLASS ACTION:
UPDATE August 15, 2019
We understand that many of you have been patiently waiting for news about our lawsuit. It has taken us a considerable amount of time to arrange for production of records by the Platinum Defendants, against whom we have a multiple number of production orders which deadlines were not met. I can confirm that we have many records produced now. As part of the production process, we have had opportunity to question Mr. Chandran about the records we do have.
We have been successful in obtaining a court order to allow us access to police records related to an incident that occurred back in the fall of 2011. We have also made application to unseal a court action between Mr. Mamdani and Mr. Chandran that resulted in a restraining order and sealing order and we are currently looking to get access to that action to determine if it contains material and relevant records to our matter.We have a number of sworn affidavits from a number of different plaintiffs and other witnesses, to assist us in this matter. We are currently organizing the records to assist us in proceeding with the claim. The records have been of tremendous benefit to us in regard to developing our claim.
We appreciate your patience and we will keep you posted as we go, and as best we can. As may well be appreciated, this is not a secure means of communication, so we are not at liberty to share with you our litigation strategy or results, or objectives. We fully appreciate the defendants and their legal counsel review our disclosure to our clients because they are given access to it. And so we do not wish to convey anything that is material that we do not wish for opposing counsel to know.
We look forward to working with all of you and appreciate your patience.
UPDATE JANUARY 9, 2019
We are currently in a situation where we have obtained a number of production orders related to the non-compliance of many of the defendants with producing their records. We will be receiving those documents over the next several weeks. At that time, we will be looking to deal with any deficient production and then we will be dealing with questioning of witnesses. We are not able to share everything on our website, given the public nature of it. However, we can assure you that we are continuing to move forward, we have had some positive developments, and we are looking forward to some positive announcements in the near future. Your patience is appreciated.
UPDATE OCTOBER 30, 2018
We have had some considerable developments since our last update. I continue to ask people to please stop calling my offices for personal updates, or emailing us for personal updates. We do not have the retainer to do so. We are also not going to litigate this matter through the website, as you can all appreciate that defendants and their counsel are reading these updates as well. We will provide updates to investors on this website so that information is fairly shared, at the same time, with everyone. And we will do so when it will not prejudice the litigation.
There are 4 main defendant groups in our legal action. Three of them are in breach of compliance with their production obligations in the lawsuit. We proceeded specifically against the Platinum Defendants in September of this year to compel them to comply with their production requirements. They have not done so. We have applications related to the Strategic Defendants, who are also not in compliance with their production requirements, and the LPP Defendants, going in November. That will get them to finally produce their records in compliance with a prior court order on production.
Also going in November are applications to compel the various law firms that acted on behalf of Platinum Defendants, to produce their records and trust records. This flows from the September application and Order granted by our case management Justice. We expect to get further production orders from these various law firms, in order to compel Platinum Defendants to comply with their production requirements.
We have filed 4 affidavits in support of the various applications, from some specific people, that address a few different ways that Platinum Defendants and Strategic Defendants were working in ways that corroborate the allegations in our pleadings. There are some records being sought that we believe will assist us in demonstrating the reliability of the allegations made in our pleadings. We expect these applications will assist us in moving the matter along and will provide relevant and material records that will corroborate the allegations we have made in our lawsuit.
To be clear, we expect to get production orders related to the LPP Defendants, Strategic Defendants and the Platinum Defendants, as all 3 of those groups have not yet complied with their production requirements. We will be seeking production of trust records related to conveyancing transactions, as well as other relevant records. That will impact a variety of different law firms. We will give you an update here when we have clarification of what we are allowed.
Our updates will not be as frequent as some people want. That is a result of the fact that it takes time to push this along, as clearly the Defendant sets described above are not working toward moving this matter ahead as they have disputed all steps along the way.
I look forward to working with all of you as we proceed.
UPDATE FEBRUARY 14, 2018
I apologize for our delay in updating investors. We have had a considerable amount of progress in the last several months and I wanted to get one thing crystallized before we updated investors.
We have a litigation plan that required defences to be filed by the Defendants by January 30, 2018. We have received those defences from the parties against whom we sought them. We wanted to have a filed pleading, before we provided an update to investors.
We have been working for a considerable period of time to get some key people to provide us with sworn evidence about the allegations we raise in our action. We have obtained some very critical sworn evidence and records in support of it to corroborate some of the allegations in our claim. We didn’t want to disclose this until we had filed pleadings from the defendants. It is our position that this sworn evidence contradicts some of the positions taken by the various Defendants in their defences.
We are now under a timeline to serve our records. We have affidavits of records from all but one of our representative plaintiffs and once we have that, we will be serving the various defendants.
We are currently in a situation where none of the Appellants that appealed certification, and lost, have paid their share of the taxed costs. We are currently taking steps to enforce the Bills of Costs against the several defendants that appealed the certification. So far, we have successfully taxed one of the Defendant groups and have further taxation dates set for March. The monies collected will be placed into trust to help offset go forward costs of litigation, now we are advancing the main claim.
With respect to the Saini v. Robertson matter, this is a distinct class action that solely relates to the Dominion – Qualia V investors. This lawsuit is related to allegations surrounding the damages caused to those investors as a result of the property being transferred to the purchaser without properly protecting the vendor, and ultimately the Qualia V investors. Essentially, the purchaser was able to take title to the property, and used mortgages to draw out the equity, without the vendor being paid for using the transfer. We are working in this lawsuit to determine who the proper parties should be and which lawyer may have been negligent in the transaction. In this particular claim, we have recently been successful in an application to compel trust records that will demonstrate where mortgage proceeds came in from and where they went, which will help identify who should be the proper parties to this claim. That will also assist us in determining which lawyer did not properly enforce and protect the vendor, and ultimately the Qualia V investors, in the usage of the transfer of land and the trust conditions imposed on doing such. We are hopeful that this litigation will be more clearly defined with the production we will get following the Order we just obtained in this action. And from there, we will continue to press it forward.
UPDATE AUGUST 18, 2017
We are currently scheduled to be back in the Courts in late October of this year. We are dealing with getting the Defendants to pay their costs of having lost their appeals to the Court of Appeal. It took some time to sort that out given two sets of Appellants had not accurately stated who were and were not parties to their appeals. That is now resolved. We will be going to court in October to set out a schedule for further steps in finally advancing litigation in the main claim, now it is finalized as a class action. That will mean that your representative plaintiffs in each project will be made available for questioning, after production of records is completed. We continue to ask for your patience. This is a large and complex matter and it has been difficult to get counsel for the various defendant groups to agree to dates to move forward. So in the fall, we will have an order with a litigation schedule to help with guiding that.
UPDATE MAY 10, 2017
As we have already informed you, the Court of Appeal rejected the appeals of the 4 main appellants that sought to overturn certification. The Platinum Defendants were ordered to provide us with the investor contact information in electronic format (give us your email addresses). Many of you may recall that when our lawsuit was commenced, Chitra Chandran sent out a mass email to all investors advising you that our lawsuit was without merit. We sought those email lists and are waiting for them still. We did get some email addresses in hard copy format and we have tried to forward to everyone the Certification Notice. Some of those emails have bounced back, although many of them went through. So most of you should already have the notice. So if you didn’t get the notice, we don’t have your email address. So you can send your updated contact information to us via email. Please send it to Jackie@invictusllp.ca – but only do so if you did not get our email.
People are calling us still to complain that they are not getting notices. Send us an email to the address above, telling us which project(s) you were in, and in what amounts, and give us your contact name for the investment, your address, and your email address you want us to use to correspond with you. Most updates will be here, so we recommend you check here regularly. We are not sending out monthly emails, as this matter is not progressing in a manner to justify that. But we will update steps here and we encourage you to check here periodically for updates. We look forward to assisting you going forward.
Attached below is the Certification Notice, in the event you did not get the email. You should read it to inform yourself. Please do not call us to ask questions about this form, as it explains itself if you read it. Alberta is an opt out jurisdiction. This means that unless you opt out, you are deemed to be part of our lawsuit. If you wish to opt out, it means you need to fill in the form and send it to us. You don’t have to send us the form if you want to be part of our lawsuit. If you opt out, you will not participate in any award or settlement of our lawsuit, if such occurs. Opting out means you intend to pursue your own claim individually.
UPDATE MARCH 20, 2017
The written reasons of the Alberta Court of Appeal have been released, confirming the certification of our action to proceed as one claim. We are now in contact with counsel to set case management meetings to get disclosure of the missing information to comply with the original certification decision, so that notification can proceed. We will be posting the class action notice on our website shortly. Alberta is an opt out province. This means that you do not have to complete the forms and send them back to us unless you want to opt out of our class action. It means that investors do not have to do anything, and they will be deemed part of our class action litigation. The forms will be self explanatory, but we provide this notice for you. We will also be emailing it to those investors for whom we have email contacts. We cannot promise your spam filters won’t reject our email of a document, so you can either find it in an email, or your junk mail, or you can come here to find it, once it is posted. We thank you for your patience.
UPDATE MARCH 13, 2017
We attended at the Court of Appeal finally on March 9, 2017. Some of the investors attended for the hearing. At that time, 4 different groups appealed the certification decision that was granted in our class action lawsuit that certified us as a class action. The appeals were denied. Three members of the Alberta Court of Appeal dismissed the 4 separate appeals without oral argument from us (the Respondents in the appeals). We are waiting for written reasons to be released and we will proceed in due course. At this time, we cannot predict the future path of litigation and when we have more information, we will provide it via the website.
We understand this process has taken time. We ask for your patience, as we are not in control of the court resources. But we are continuing to press this matter forward and we will update you all when progress is made.
UPDATE NOVEMBER 3, 2016
I am writing to inform you that the Alberta Court of Appeal has granted the request for an adjournment sought by one of the Defendant counsel. We were successful in making that adjournment occur on a peremptory basis, meaning it will go forward no matter what on March 9, 2017. As many of you have asked, the Court of Appeal is an open hearing, and you may attend March 9, 2017 at 10am at:
TransCanada Pipelines Tower, 2600, 450 – 1st St. S.W., Calgary, AB, T2P 5H1
We are now in the process of drafting submissions to seek a court order to compel the Defendants to pay our throw away costs of this adjournment being granted. We will keep you posted on progress here on this page.
UPDATE OCTOBER 28, 2016
I am writing you to inform you all about our status. We were certified as an omni-bus class action suit back in May of 2015. After the decision was finalized, some of the defendants bound by that decision appealed the Certification Order. We are currently scheduled to be going to the Court of Appeal on November 8, 2016. It took that long to get the appeal together and filed by the defendant group. To be clear, we are the Respondents in this appeal. That means some of the defendants appealed the decision. We take the position the Certifying Justice made the appropriate decision, which enables our entire group to proceed together in order to prove that you were deprived of your investment in the manner described in the Statement of Claim.
We have just been contacted by one of the Defendant groups seeking an adjournment of the hearing. They advise that one of the lawyers at their firm that was to argue the appeal, is no longer available. We are currently dealing with the request and will update you as we absorb that request. We will be seeking instruction from the representative plaintiffs in each of your projects.
Please do not email or call us about this development. We will update everyone on the website, or by email, as we can. We know that some people were thinking of attending the appeal. We will keep you posted of our progress, on the website.
Kevin P McGuigan
UPDATE – MARCH 16th, 2016
Platinum Equities Appeal Update
We now have a confirmed date for the appeal of the Certification decision of November 8th, 2016.
UPDATE – MARCH 1ST, 2016
Platinum Equities Appeal Update
We have now heard from the Defendant Groups, who have brought an appeal of the certification decision we won in May 2015. At this time, the Defendants’ appeal will not likely be heard until November – December 2016 at the earliest.
We appreciate that class members are anxious to have the appeal heard and dealt with. However, this is the Defendants’ appeal, and we do not have control over the speed in which this matter progresses. We are as eager to have this matter resolved as class members but we are unfortunately not in control of the appeal.
We understand that class members are likely upset to hear of how long it will be before the Court of Appeal hears this matter and renders a decision. Nevertheless, we again ask for class members’ patience. We will continue to provide updates as they become available, but at this stage there will be minimal updates until the Defendants’ appeal is actually heard.
UPDATE – FEBRUARY 15TH, 2016
Platinum Equities Appeal Update
As of the end of January 2016, we filed and served our legal briefs on the four defendant groups appealing the certification decision. We are also now in receipt of all the reply briefs of the defendant groups.
Our next step is to coordinate with all parties to set an appeal date. As of right now we do not know what the court of appeal’s availability will look like. We will know within the next few weeks and will update investors on the actual appeal date.
We appreciate class members’ patience and will hopefully have more information soon.
UPDATE – DECEMBER 8TH, 2015
Platinum Equities Appeal Update
We are now in receipt of the briefs of the defendant groups with respect to the Platinum Equities certification appeal.
As investors may recall, we had obtained certification of the Platinum Equities class action in May 2015. Shortly thereafter, the defendants appealed.
The defendants had until early December to provide their briefs in support of their appeal. We have two months from that date to provide our briefs in response, which would be in late January 2016.
Following the filing of briefs by both parties, we can set a date for the hearing of the appeal.
We appreciate that investors are anxious for updates and to move this class action forward. However, the appeal process is a slow one. We will continue to provide updates on the status after January 2016.
UPDATE – JUNE 9TH, 2015
TIER 1 INVESTOR CALL FOR CONTRIBUTIONS
As we have now moved past the certification stage of the Platinum Equities Class Action, we will require an additional contribution from Tier 1 investors. As a reminder, there are two Tiers of investors who we represent in this Class Action:
TIER 1: If you have previously contributed 1% of your total investment in all projects towards funding the Class Action, you are a Tier 1 investor. You will be entitled to a larger proportion of the eventual proceeds should the Class Action settle or we obtain a judgment against some or all of the Defendants.
TIER 2: if you have not previously contributed 1% of your investment in all projects towards funding the Class Action, you are a Tier 2 investor. You will be entitled to a smaller proportion of the eventual proceeds should the Class Action settle or we obtain a judgement against some or all of the Defendants.
For Tier 1 investors, we are asking for an additional contribution of 1% of your investment at this time. Your contribution will match the previous contribution you made towards the Class Action. Should you decide not to make any additional contribution, you will lose your Tier 1 status, and drop down to Tier 2.
We ask that contributions be made payable to “McGuigan Nelson LLP in trust” and mailed to the address below. Please note that our office address has changed from the date of the last contribution.
McGuigan Nelson LLP
Suite 205, 625 – 11th Avenue S.W.
Calgary, Alberta T2R 0E1
Subject: Platinum Equities Tier 1 Contribution
Finally, please include the Contribution Form when making your contribution.
UPDATE – JUNE 4TH, 2015
On June 3, 2015, Justice Macleod entered an Order confirming the terms of his decision to certify our claim. On the right hand side of this page, under the “Downloads” heading, you will find the Notice to Investors and Opt out Form. YOU DO NOT HAVE TO FILL OUT A FORM IF YOU WANT TO STAY IN THIS LAWSUIT. Many of our investors are Tier 1 investors and are contributing to costs. Tier 2 investors will be treated differently on any judgment or settlement, but they also do not have to fill out any forms. In Alberta, we have “OPT OUT” legislation, which means you have to fill out the attached form if you DO NOT want to be part of this lawsuit. So investors that wish to remain do not have to do anything.
We will be back before Justice Macleod on September 1, 2015 to speak to this matter. At that time, we hope to get his approval of our efforts to comply with providing investors with notice of this claim.
We can also advise you that there are 4 defendant groups in this litigation. There were certain parties from the Platinum Defendant group that were sanctioned by the Alberta Securities Commission and fairly substantial fines were imposed. Going forward, there will be certain Platinum Defendants that will not have counsel. We will update you as to how that impacts the litigation when we see.
We can also advise that three of the Defendant groups have filed Notices of Appeal and the fourth group has advised us they are doing so as well. So while we will be providing you with Notice, to comply with the Class Proceedings Act, we will have to deal with the appeals. We will keep you updated on dates as we progress and finalize those.
We know that there are a large number of class members here and we are trying to inform all of you of the progress of this matter. However, we cannot respond to individual inquiries. We ask you to review the website for updates, which will be posted as they are available for us to do so.