Article

Stanford Ponzi Scheme: Ruling Sends $5.5 Billion Suit Against TD Bank to Trial

Lincoln Caylor
November 24, 2015
Social Media
Download
Download
Read Mode
Subscribe
Summarize
Creditors of America's second largest Ponzi scheme will get their day in court as a result of a key ruling earlier this month by the Superior Court of Justice – Ontario. The court dismissed a motion for summary judgment from Toronto-Dominion Bank, which would have set aside a $5.5 billion claim against the bank by liquidators of Stanford International Bank (SIB). This decision in Canada, in a massive case that has played out in courts in several jurisdictions since 2009, is particularly meaningful. The ruling by the Honourable Barbara A. Conway opens the door for the case to proceed and victims' claim to be heard. It comes after more than two years of work by our team of lawyers at Bennett Jones, representing the joint liquidators working to recover assets for victims. Originally published in FraudTalk.
Social Media
Download
Download
Subscribe
Republishing Requests

For permission to republish this or any other publication, contact Amrita Kochhar at kochhara@bennettjones.com.

For informational purposes only

This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors.

From the Same Authors

See All
The Strong Borders Act Seeks to Strengthen the Canadian AML Regime
Blog

The Strong Borders Act Seeks to Strengthen the Canadian Anti-Money Laundering Regime

August 5, 2025
Lincoln CaylorNathan J. ShaheenDylan A. Gallant
Lincoln Caylor, Nathan J. Shaheen & Dylan A. Gallant
Placeholder
Article

Mareva Injunctions in Canada: Now Easier to Get?

June 25, 2025
Lincoln CaylorNathan J. Shaheen
Lincoln Caylor & Nathan J. Shaheen
Placeholder
Speaking Engagement

Lincoln Caylor Speaks on Report Writing in OBA Investigation Series

May 20, 2025
Lincoln Caylor
Lincoln Caylor