Introduction
This matter has now been set for trial for 10 days commencing June 8, 2009. The trial will take place at the courthouse at 800 Smithe Street, Vancouver. Potential class members who reside outside of British Columbia are reminded that the date for “opting in” to this class action is 60 days before trial. For more information on opting in, see Court Documents
A class action lawsuit has been certified against the Business Development Bank of Canada (BDC) on behalf of several thousand retired members and surviving spouses of the Business Development Bank of Canada Pension Fund.
In 1987, 1994, 1995 and 1997, the terms of the Pension Plan documents were amended causing changes to fund surplus and contributions. These changes unjustly enriched the BDC to the detriment of the plaintiffs and the class members.
As of December 31, 2001, the actuarial report filed by the BDC in respect of the Pension Plan valued the Pension Plan surplus at $127,000,075.00 on a going concern and at $114,358,000.00 on a solvency basis.
This suit seeks an order for damages that will result in a re-allocation of the surplus in an impartial and even-handed manner among all Plan members.
Klein Lyons is working on this lawsuit in conjunction with leading pension lawyers from the Toronto law firm of Koskie Minsky.
The Klein Lyons Newsletter
Our Newsletters provide updates on the progress of Klein Lyons. Read about recent victories, new team members, and the latest news. Subscribe.
It was very helpful to find our claim was in such experienced and competent hands.
For more information
© 2008 Klein Lyons