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.
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UNICASH CLASS ACTION
UPDATE: This matter is now complete.
The Settlement of this action was approved by the Superior Court of Justice on February 7, 2011. The endorsement of Justice Strathy may be viewed here. The certification and settlement approval order, which includes the full terms of the Settlement Agreement, may be viewed here.
Class Members who wish to opt out of the action and the settlement must do so by May 9, 2011. Any Class Member who does not opt out of this action by May 9, 2011 is bound by the terms of the Settlement.
The Notice to the Class is below.
Important: Please Read this Notice as it May Affect Your Rights
TO: All Current or Past Payday Loan Customers of Unicash or Planinvest Consulting limited c.o.b. Unicash
NOTICE OF CERTIFICATION OF A CLASS PROCEEDING,
AND APPROVAL OF SETTLEMENT
PURPOSE OF THIS NOTICE
On February 7, 2011, the Ontario Superior Court of Justice certified as a class proceeding an action brought against Unicash Franchising Inc. carrying on business as Unicash Financial Centres and Planinvest Consulting Limited, carrying on business as Unicash (“Unicash”), and approved a settlement of this class action.
The Action alleged that the interest charged by Unicash on payday loans violated section 347 of the Criminal Code and sought damages on behalf of the Class. The settlement reached by the parties is a compromise of disputed claims, and is not an admission of liability by Unicash.
Unicash sold its assets in February 2008 and no longer carries on business.
The Class Members are:
“all persons in Canada who have entered into payday loans with Planinvest Consulting Limited, carrying on business as Unicash (“Unicash”), and who have paid or been charged interest on a payday loan from Unicash” (the “Class”).
THE TERMS OF THE SETTLEMENT
- The Defendants agree to take no collection action against any Class Members in respect of any defaulted payday loans. Class Members may rely upon the Settlement Agreement and the Court’s order as a full defence to any action commenced against them by the defendants in respect of payday loans that are in default.
- The Defendants are to pay a total of $155,000 (the “Settlement Fund”) to be distributed:
- first, to the costs associated with providing this notice of the settlement and certification;
- second, 10% of the balance of the Settlement Fund will be paid to the Class Proceedings Fund as required by statute;
- third, to Class Counsel’s fees, disbursements and taxes; and
- fourth, the remaining balance will be paid to InCharge Canada Debt Solutions, a not-for-profit consumer credit advocacy agency, to assist consumers with debt problems.
No Settlement funds will be paid directly to the members of the Class.
This is a summary only. The full terms of the settlement and the court’s order and reasons approving the settlement are available to be viewed at www.unicashclassaction.com.
OPTING OUT OF THE CLASS ACTION AND SETTLEMENT
If you fall within the definition of the Class, and you do not wish to be bound by the terms of the settlement or otherwise do not wish to be included in this class action, you have the right to opt out. If you wish to be excluded from the settlement and this class proceeding, then you must advise Class Counsel in writing by no later than May 9, 2011, by sending a letter, including your full name and address to Paliare Roland Rosenberg Rothstein LLP, 250 University Avenue, Suite 501, Toronto, Ontario, M5H 3E5.
ADDITIONAL INFORMATION
If you would like further information about the terms of the settlement, please contact:
Paliare Roland Rosenberg Rothstein LLP
250 University Avenue, Suite 501
Toronto, ON M5H 3E5
Tel: (416) 646-4300
Fax: (416) 646-4301
www.paliareroland.com
Attn: Unicash Class Action
PUBLICATION OF THIS NOTICE HAS BEEN AUTHORIZED BY THE ONTARIO SUPERIOR COURT OF JUSTICE.
