Summary
1. The law firms of Sutts, Strosberg LLP and Groia & Company Professional Corporation are counsel in a class action against, among other defendants, Trinity Capital Corporation, Trinity Wood Capital Corporation, James Douglas Beatty, James Gordon Arnold, BDO Dunwoody LLP and Fraser Milner Casgrain LLP.
2. The claim is on behalf of all persons, other than certain persons associated with the defendants, who participated in the Donation Program for Medical Science and Technology (the “Program”) in at least one of the taxation years of 2001, 2002 or 2003. The Program was marketed as a tax shelter that permitted participants to make leveraged donations to charities.
3. The class action concerns leveraged donations that were made in accordance with the terms of the Program. Each donor who participated in the Program was required to use their own funds for a portion of the donation and was provided with the option of financing for the balance of the donation.
4. Participants in the program were issued official charitable donation income tax receipts to permit them to claim an income tax credit for an amount that included the financed portion of the donation. The Canada Revenue Agency disallowed the income tax credits claimed by the donors and that decision was upheld by the Tax Court of Canada.
5. The plaintiff alleges, among other things, that the defendants were negligent in designing, promoting and operating the Program.
6. The defendants brought summary judgment motions arguing that the action is statute-barred because of the passage of time. Justice Strathy of the Ontario Superior Court of Justice released reasons and dismissed the motions. The reasons may be reviewed here. As a result of Justice Strathy's decision, the class action will continue to be prosecuted. The defendants may appeal the judge's ruling. If that happens, this website will be updated.
7. If you participated in the Program in the taxation years of 2001, 2002 or 2003, please enter the information requested on the communication page.
8. If you have any questions, please call Sutts, Strosberg LLP at 1.800.229.5323, extension 8296.
9. If you would like to know more about how a class action works, click here.
IMPORTANT NOTE
This website provides general information to class members on a class action commenced against Trinity Capital Corporation and a number of other corporations and persons. The court will ultimately decide who will be included as a class member.
The information collected about class members will assist counsel in prosecuting the class action and assessing what damages were suffered by the class as a whole. Providing the information requested does not make you a client of Sutts, Strosberg LLP or of Groia & Company Professional Corporation.
The site is not designed to answer questions about your individual situation or entitlement. Do not rely upon the information provided on this website as legal advice in respect of your individual situation nor use it as a substitute for individual legal advice.
This website is updated from time to time to provide class members with further information.