Class Action Law Suits
Lawyers Mitchell Wine, of MSTW Professional Corporation and Margaret Waddell of Sotos joined forces in prosecuting five proposed class actions relating to syndicated mortgage loans (SMLs) promoted by Fortress Real Developments Inc. and Fortress Real Capital Inc. Details of the proposed class actions, as well as statements of claims, and settlements can be found on the Sotos website. (search Fortress).
The actions relate to the SMLs registered on five different real estate developments:
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Collier Centre – (2012 syndicated mortgage loan only)
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Progress Manors Ten88
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Sutton/The Link
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Harmony Village Lake Simcoe/The Kemp
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Orchard Calgary – only in respect of the charge registered as Registration No. 141 112 373.
CURRENT PROPOSED CLASS ACTIONS
PARTIAL SETTLEMENTS
There have been 5 partial settlements thus far. Please refer to the Sotos website, (search under cases/Fortress) or the FAAN website for details https://www.faanmortgageadmin.com/fortress/english.
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Sutton/The Link Settlement
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BDMC and Ildina Galati Estate
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FFM, Rosalia Spadafora, and Saul Perlov
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FMP, Tonino Amandola, Michael Daramola, and Graham McWaters
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Derek Sorrenti, Grant Morgan, and Sorrenti Law Professional Corporation
It is important to understand that a class action certification hearing the initial procedural step where a judge will determine if a lawsuit can proceed as a class action law suit. The judge will not decide the merits of the case, but will decide if the claim has a valid cause of action, a defined class, common issues, a suitable representative, and is the preferred method for resolution.
UPCOMING CERTIFICATION HEARING FEB 24-26, 2026
Outstanding claims against Fortress Real Developments and the Appraisers (for Progress Manors/Ten 88 & Harmony Village Lake Simcoe/the Kemp only) will be pursued in an upcoming class action certification hearing from Feb 24-26, 2026.
To attend the hearing via zoom, please register here:
When: Feb 24, 2026 10:00 AM Eastern Time (US and Canada)
Topic: MCDOWELL v. FORTRESS REAL CAPITAL INC. et al | CV-16-00560268-00CP
Register in advance for this webinar:
https://ca01web.zoom.us/webinar/register/WN_rjWIh5YRQKa45NGD4QFKVA
How can I get my
money back?
Many investors have asked us how they can get their money back. We have carefully looked at various avenues for recovery.
Other Class Action Pursuits
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An investigation team comprised of a lawyer, researcher and a forensic accountant had worked diligently with the help of Rose Ray , to create a report that would be used to highlight potential law suits pertaining to Fortress. A potential Class action lawsuit against Lamb Development Corp was filed, however unfortunately the law firm Groia advised they were unable to pursue the lawsuit further. Archived communications regarding this endeavour can be found here.
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Another law firm, Kallochlian Myers LLP filed a Statement of Claim in 2020 against Olympia Trust Company for the registered funds investors. However, on June 19, 2023, the Court of Appeal for Ontario has dismissed the appeal of the order dismissing the motion for certification. A copy of the decision is available here.
If you are an investor who has approached a law firm regarding a class action law suit against other Fortress related parties not mentioned on our website, please let us know.
Q & A
Current Proposed Class Action Law Suits & Settlements
1. Why wasn't my project / developer chosen for the class action law suit headed by Mitchell Wine and Sotos?
This would likely be due to the fact that the lead plaintiffs invested in the particular projects listed above.
2. Why does it take so long to recover the funds for a class action law suit?
We understand this is the question most victims ask. Unfortunately, recovering money through a class action lawsuit is not quick or simple.
• Class actions take years to move through the courts.
• Defendants often fight every step, which adds delays.
• Even if successful, legal costs and fees are deducted before any money is shared.
Class actions can hold wrongdoers accountable and sometimes lead to financial settlements, but they are a long, uncertain process with no guarantee of full recovery.
3. I didn't receive my class action law suit settlement payment. Who do I contact?
Please contact the Claims Administrator - FAAN Mortgages. They can be reached at 1 (833) 495-3338 or by email at info@faanmortgageadmin.com.