The Advocate Daily recently published this news release entitled, “Regulatory settlement not enough to determine liability in civil proceeding” by Kim Duong, a Toronto insurance lawyer. In this case, the plaintiffs tried to argue that a settlement, which one of the defendants entered into with the Mutual Fund Dealers Association of Canada, should be used as an admission of liability in the civil case. A unanimous three-judge panel of the Nova Scotia Court of Appeal upheld a judge’s dismissal of the plaintiff’s motion in which he had ruled that regulatory admissions alone were not enough to determine liability. This dispute will now proceed to trial.
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