Frequently Asked Questions (FAQ)
The Court in charge of this litigation authorized this Notice because you may be a member of the Class. The Notice explains the proposed Settlement and helps you understand all of your options before the Court decides whether or not to approve the Settlement.
Your receipt of Settlement benefits, including cash payments, depends on the Court’s final approval of the Settlement and the resolution of any appeals in favor of approval of the Settlement.
Please be patient and check the Settlement Website at www.MatrixTowersSettlement.com
regularly. Do not contact the Defendants regarding the details of this Settlement because they will not have any information that is not on the Settlement Website. Do not contact the courts about this action.
This Settlement resolves litigation against the Defendants alleging that the Defendants’ negligence caused the Falling Balcony Guardrail Incidents and the resulting repair process. The Plaintiffs claim that they suffered damages from being denied access to their balconies and to some amenities during that repair process. You can read the Statement of Claim by visiting www.MatrixTowersSettlement.com. The Defendants deny that they have violated any law or engaged in any wrongdoing. The parties agreed to resolve these matters before these issues were decided by the Court.
If you owned, rented, and/or ordinarily resided in a residential condominium unit at the premises municipally known as 361 Front Street West (East Tower) and 373 Front Street West (West Tower) in the City of Toronto between March 1, 2011 to and including September 15, 2014 (“Class Period”), and you have not already opted out of the class proceeding, you are an Eligible Class Member.
The parties have entered into a settlement agreement (the “Settlement Agreement”). In order for the Settlement to become effective, it must be approved by the Ontario Superior Court of Justice (the “Court”). If the Court approves the Settlement Agreement, the Defendants will pay $1,750,000 (the “Settlement Fund”), inclusive of prejudgment interest to settle the claims of the Class Members, including the Legal Fees and Disbursements and the costs of administering the Settlement, in return for a release and a dismissal of the class action.
If the Court approves the settlement the Defendants will pay the Settlement Fund to settle the claims of the Class Members, including the Legal Fees and Disbursements and the costs of administering the settlement, in return for a release and a dismissal of the class action.
Class Members shall submit Claim Forms to the Claims Administrator, who will determine the amounts to be distributed to Class Members from the Settlement Fund, in full and final settlement of their claims.
Eligible Class Members will receive an award calculated on the amount of the settlement fund remaining after payment of legal fees, payments of honoraria, disbursements, and taxes thereon and administrative expenses for the settlement administration (the “Net Settlement Fund”). The claims administrator will calculate awards on a per unit basis. The award for units is estimated to be about $1,300 per unit (the “Awards”).
These amounts are based on an award per unit over the Class Period without consideration of (a) the number of people living in the unit, or (b) the size of the balcony in the unit. If after all eligible claims are calculated there remains a residue/surplus in the net settlement fund, then the balance is to be allocated to the claimants who submitted an eligible claim for a unit with a balcony and distributed proportionally. If the net settlement fund is insufficient to pay the awards, then the fund shall be shared proportionally amongst all eligible claims.
If a unit owner(s) and/or a tenant(s) were both in possession of the unit for all or part of the class period, the owner(s) and/or the tenant(s) will share the payment based upon the month(s) each occupied the unit during the Class Period. If, during the Class Period, a unit owner gave a rent abatement to a tenant, the owner will be reimbursed for that abatement in priority to the tenant.
If the Settlement becomes final, you will be eligible for the benefits described in this Notice. In exchange for having those benefits available to you, you will give up your right to sue the Defendants for claims related to the Falling Balcony Guardrail Incidents.
Class Counsel will be asking that the Court approve legal fees of 30% of $1,750,000.00 which is $525,000 plus disbursements and applicable taxes, in accordance with the contingency fee agreements.
Class Counsel will also be asking that the Court approve an honorarium of $5,000 to be awarded to each of the Named Plaintiffs in recognition of the role they played as representative plaintiffs in this litigation.
Class Counsel will also be asking that the Court approve these payments, as well as payments for the costs of the administration out of the settlement fund.
More details, including the actual Settlement Agreement, are available at www.MatrixTowersSettlement.com. You may also contact Class Counsel at:
Kateryna Galts
Charney Lawyers PC
150 Bloor Street West, Suite 602
Toronto, ON M5S 1S4
Phone: (416) 964-7950
e-mail: [email protected]
Marietta Underwood
Strosberg Wingfield Sutts LLP
1561 Ouellette Avenue
Windsor, ON N8X 1K5
Tel: 519.561.6294
Email: [email protected]
You may also contact the Claims Administrator.