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Class Actions

IMPORTANT NOTE:

This website has been developed to provide general information to potential class members on a number of class actions that have been commenced concerning pay day loans.

The site is not designed to answer questions about your individual situation or entitlement. Do not rely upon the information provided on this website as legal advice in respect of your individual situation nor use it as a substitute for individual legal advice.

The information collected about potential class members will assist counsel in prosecuting the class action and assessing what damages were suffered by the class as a whole. Providing the information requested does not make you the client of Koskie Minsky LLP, Paliare Roland Rosenberg Rothstein LLP, or Sutts, Strosberg LLP. The court will ultimately decide who will be included as a class member.

QUIK PAYDAY CLASS ACTION

UPDATE:  The Settlement of this action was approved by the Superior Court of Justice on December 1, 2006.  The Claims process closed on March 1, 2007 and the settlement funds have been disbursed by the Settlement Administrator to all eligible claimants.

Any questions concerning the administration of the claims should be directed to:

www.claimsadministrator.ca/payday or, 1-866-393-8080

Any questions concerning the action should be directed to Margaret Waddell or Odette Soriano.

Case Summary:

  1. This class action was commenced against Quik Payday Inc. Quik Payday, Inc., (Collectively "Quick Payday") and David M. Dunkley and Linda Miller by Edward Joseph of Navan, Ontario on behalf of everyone in Canada who took out a Payday Loan from Quik Payday, from October 2, 2002 until February 11, 2005, when Quik Payday Inc. ceased carrying on business in Canada.  The primary allegation in the lawsuit is that Quik Payday charged a criminal rate of interest on its Payday Loans, in violation of section 347 of the Criminal Code of Canada.
  2. The law firms of Paliare Roland Rosenberg Rothstein LLP (Toronto), and Koskie Minsky LLP (Toronto) have acted together to prosecute this action.
  3. The claim alleges that Quik Payday, whose Payday Loans were offered exclusively on the internet, charged interest on its Payday Loans in excess of the maximum legal rate of 60% per year. Quick Payday charged a flat fee of $25.00 per $100.00 borrowed. A rollover option was originally available for a further 4-18 day term, for an additional $25.00 per $100.00 borrowed. As well, Quick Payday charged a $20.00 late fee and interest at the purported rate of 25% per annum on overdue accounts. The claim alleges that all of these charges are “interest” as defined by the Criminal Code, and that the interest on all Payday Loans exceeds the maximum legal rate, and constitutes a criminal rate of interest.
  4. The Statement of Claim was issued on January 28, 2005.