Class Action Law Suits
Current Proposed Class Action Law Suits & Settlements
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.
Five proposed class actions pertain to the following 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.
Details of the proposed class actions, as well as statements of claims, and settlements can be found on the Sotos website. (search Fortress).
Partial Settlements
There have been 5 settlements thus far. Please refer to the Sotos website, or the FAAN website for details.
https://www.faanmortgageadmin.com/fortress/english
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.
集体诉讼
调查组 包括律师、研究员和法务会计师 在 Rose Ray 的帮助下辛勤工作，创建了一份报告，用于突出与 Fortress 相关的潜在法律诉讼。已提起针对 Brad J Lamb Realty Inc./Lamb Development Corp 的潜在集体诉讼，但不幸的是，Groia 律师事务所决定他们无法进一步提起诉讼。 可以找到有关此努力的存档通信这里.如果您是一名投资者，曾就针对我们网站上未提及的其他 Fortress 相关方提起的集体诉讼与律师事务所接洽，请告知我们。
据我们所知，目前有 2 个律师事务所团队正在提起集体诉讼，这可能会使 Fortress RDI 银团抵押贷款的一些投资者受益。详情如下。