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Class Action Law Suits

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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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1. Collier Centre – (2012 syndicated mortgage loan only)

2. Progress Manors Ten88

3. Sutton/The Link

4. Harmony Village Lake Simcoe/The Kemp

5. Orchard Calgary – only in respect of the charge registered as Registration No. 141 112 373.

CURRENT PROPOSED CLASS ACTIONS  

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PARTIAL SETTLEMENTS

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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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1. Sutton/The Link Settlement  

2. BDMC and Ildina Galati Estate

3. FFM, Rosalia Spadafora, and Saul Perlov 

4. FMP, Tonino Amandola, Michael Daramola, and Graham McWaters

5. Derek Sorrenti, Grant Morgan, and Sorrenti Law Professional Corporation

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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.