Slater Steel Inc.

On March 7 and 8/07, the Ontario Superior Court of Justice (Commercial List) will hear a number of motions related to a civil action brought by Morneau Sobeco Limited Partnership against AON Consulting Inc. and J. Melvin Norton. The motions relate to intended third party claims by AON Consulting Inc. and J. Melvin Norton against the Slater officers and directors, and whether FSCO is acting in a representative capacity for Morneau Sobeco in that civil action.

Updated on December 31, 2006

Two of the motions were heard on March 7 and 8, 2007 and the Court reserved its decision.  The Court deferred the hearing of the two motions related to the indemnification issue sine die until it has decided the first two motions.

Updated on March 31, 2007

On April 13, 2007, the Court released its decision, denying the motion to bring the third party claims. AON and Mr. Norton have appealed this decision to the Court of Appeal. The Court of Appeal has scheduled the appeal for February 21, 2008.

Updated on September 5, 2007

The Court of Appeal heard the appeal on February 21, 2008, and reserved its decision.

Updated on March 18, 2008

On March 19, 2008, the Court of Appeal allowed the appeal of AON and Mr. Norton and declared that AON and Mr. Norton may each initiate third party claims within 14 days of March 19, 2008. Costs were ordered payable by the Slater officers and directors to AON and Mr. Norton.

Updated on April 16, 2008

On May 2, 2008, the Court of Appeal ordered costs payable to AON in the amount of $70,000 within 30 days, and costs payable to Mr. Norton in the amount of $30,000 within 30 days.

On May 20, 2008, the Slater officers and directors applied to the Supreme Court of Canada for leave to appeal the Court of Appeal's decision.

Updated on June 4, 2008

On September 4, 2008, the Supreme Court of Canada denied leave to appeal. On September 30, 2008, the Ontario Superior Court of Justice (Commercial List) scheduled the two motions related to the indemnification issue for November 13, 2008.

Updated on November 4, 2008

The motions were adjourned from November 13 to November 21, 2008. The motions were argued on November 21 and the court reserved its decision.

Updated on January 13, 2009

On May 27, 2009, the Court released its decision dismissing both motions. The Slater officers and directors have filed a motion for leave to appeal with the Divisional Court.

Updated on June 26, 2009

A mediation has been scheduled for November 30, 2009, with respect to the issues in the civil action.

Updated on November 4, 2009