Case information
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31033
Venture Capital USA Inc., et al. v. Yorkton Securities Inc.
(Ontario) (Civil) (By Leave)
Docket
Judgments on applications for leave to appeal are rendered by the Court, but are not necessarily unanimous.
| Date | Proceeding | Filed By (if applicable) |
|---|---|---|
| 2005-12-09 | Close file on Leave | |
| 2005-12-09 | Copy of formal judgment sent to Registrar of the Court of Appeal and all parties | |
| 2005-12-09 | Judgment on leave sent to the parties | |
| 2005-12-08 |
Judgment of the Court on the application for leave to appeal, The application for leave to appeal from the judgment of the Court of Appeal for Ontario, Number C40750, dated May 13, 2005, is dismissed with costs. Dismissed, with costs |
|
| 2005-11-07 | All materials on application for leave submitted to the Judges, Ma F Abe | |
| 2005-09-19 | Applicant's reply to respondent's argument, no service - Rec'd Sept. 23, 2005, Completed on: 2005-09-23 | Venture Capital USA Inc. |
| 2005-09-09 | Respondent's response on the application for leave to appeal, Completed on: 2005-09-09 | Yorkton Securities Inc. |
| 2005-08-15 | Letter acknowledging receipt of an incomplete application for leave to appeal | |
| 2005-08-09 | Application for leave to appeal, (C/A Order-rec'd. Aug. 22/05), Completed on: 2005-08-22 | Venture Capital USA Inc. |
Parties
Please note that in the case of closed files, the “Status” column reflects the status of the parties at the time of the proceedings. For more information about the proceedings and about the dates when the file was open, please consult the docket of the case in question.
Main parties
| Name | Role | Status |
|---|---|---|
| Venture Capital USA Inc. | Applicant | Active |
| Dominion Fixed Income Plus Fund Limited, Gideon Trading Ltd. and Nisha Mehta Investments Ltd. | Applicant | Active |
v.
| Name | Role | Status |
|---|---|---|
| Yorkton Securities Inc. | Respondent | Active |
Counsel
Party: Venture Capital USA Inc.
Counsel
2600 - 160 Elgin St
P.O. Box 466, Stn "D"
Ottawa, Ontario
K1P 1C3
Telephone: (613) 233-1781
FAX: (613) 788-3433
Email: henry.brown@gowlings.com
Party: Dominion Fixed Income Plus Fund Limited, Gideon Trading Ltd. and Nisha Mehta Investments Ltd.
Counsel
2600 - 160 Elgin St
P.O. Box 466, Stn "D"
Ottawa, Ontario
K1P 1C3
Telephone: (613) 233-1781
FAX: (613) 788-3433
Email: henry.brown@gowlings.com
Party: Yorkton Securities Inc.
Counsel
Crawford G. Smith
79 Wellington Street West
Box 270, TD Centre
Toronto, Ontario
M5K 1N2
Telephone: (416) 865-0040
FAX: (416) 865-7380
Summary
Keywords
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Summary
Case summaries are prepared by the Office of the Registrar of the Supreme Court of Canada (Law Branch). Please note that summaries are not provided to the Judges of the Court. They are placed on the Court file and website for information purposes only.
The respondent, Yorkton Securities Inc., a brokerage house, became concerned that the principal of one of its client, the applicants, had a serious criminal record and that some of the client's transactions might attract regulatory disapproval. A "refusal clause" in the written agreement between the broker and the client gave the broker "the right to refuse to accept purchase or sale instructions from the client whenever Yorkton shall deem it necessary for its protection or otherwise." Purporting to act under this clause, the broker suspended all activity in the client's account. The client sued the broker for losses allegedly sustained as a result of transactions disrupted by the suspension.
Lower court rulings
Ontario Superior Court of Justice
00-CV-189784
Applicants' action allowed; damages awarded in the amount of $582,927.64
Court of Appeal for Ontario
C40750
Respondent's appeal allowed and Applicants' claim dismissed; Applicants' cross-appeal for increased damages dismissed
Filed documents
The memorandums of argument on an application for leave to appeal will be posted here 30 days after leave to appeal has been granted unless they contain personal information, information that is subject to a publication ban, or any other information that is not part of the public record. You may also obtain copies of the memorandum by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a memorandum of argument or want to use a memorandum of argument, please contact the author of the memorandum of argument directly. Their name appears at the end of the memorandum of argument. The contact information for counsel is found in the “Counsel” tab of this page.
Downloadable PDFs
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Related links
The factums of the appellant, the respondent and the intervener will be posted here at least 2 weeks before the hearing unless they contain personal information, information that is subject to a publication ban, or any other information that is not part of the public record. You may also obtain copies of factums by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a factum or want permission to use a factum, please contact the author of the factum directly. Their contact information appears on the first page of each factum.
Downloadable PDFs
Not available
Related links
The condensed books of the appellant, the respondent and the intervener will be posted here upon receipt of the electronic version, 2 days prior to the scheduled appeal hearing. You may also obtain copies of condensed books by filling out the Request for Court records form or by contacting the Court’s Records Centre either by email at records-dossiers@scc-csc.ca or by telephone at 613‑996‑7933 or at 1‑888‑551‑1185.
If you have questions about a condensed book or want permission to use a condensed book, please contact the author of the condensed book directly. Their contact information appears on the first page of each condensed book.
Downloadable PDFs
Not available