Slater Steel Inc.

Updated on December 31, 2006

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 March 31, 2007

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 September 5, 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 March 18, 2008

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

 

Updated on April 16, 2008

On March 19, 2008 [New Window], 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 June 4, 2008

On May 2, 2008 [New Window], 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 November 4, 2008

On September 4, 2008 [New Window], 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 January 13, 2009

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 June 26, 2009

On May 27, 2009 [New Window], 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 November 4, 2009

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

 

Updated on December 1, 2009

A mediation was held on November 30, 2009. The case did not settle. 

 

Updated on April 9, 2010 

On March 17, 2010, the Slater officers and directors served notice under the Proceedings Against the Crown Act that they intend to commence a fourth party claim against Her Majesty the Queen in Right of Ontario as represented by the Superintendent of Financial Services.

 

Updated on June 3, 2010

On May 31, 2010, the Fourth Party Claim was served.

 

Updated on February 22, 2012

A motion for judgment was served by AON on December 22, 2011 and the motion date is to be scheduled at a case conference in June 2012.

 

Updated on September 14, 2012

 
The motions have been deferred pending a mediation that is scheduled for September 21, 2012. 

 

Updated on February 20, 2013

The action in the Ontario Superior Court of Justice, in which Morneau Shepell as plan administrator of the Slater Stainless Plans was suing AON Consulting Inc. and J. Melvin Norton for professional negligence and breach of fiduciary duty, has been dismissed pursuant to a settlement reached during the mediation held on September 21, 2012.

 
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