Written by Lincoln Caylor

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.