1. The plaintiff commenced a class action alleging that BNS charged its BNS Visa cardholders undisclosed and unauthorized fees or charges in respect of debits and credits on their BNS Visa accounts in foreign currency.
2. Sutts, Strosberg LLP was part of the plaintiff’s counsel group. Paul J. Pape was solicitor of record.
3. The parties agreed to a settlement which was approved by Justice Brockenshire on January 23, 2009. The judgment of Justice Brockenshire may be reviewed here. The reasons of Justice Brockenshire may be reviewed here.
4. As a result of the settlement, BNS paid $24.2 million as follows:
(a) $6.76 million directly to eligible cardholders;
(b) $9.3 million, mainly to hospitals, for medical research and treatment, primarily in respect of cancer;
(c) $1 million to the Law Society of Upper Canada for the Feed the Hungry Program;
(d) $1.897 million to the Class Proceedings Fund;
(e) $157,213 for costs of administration; and
(f) $5.082 million to the plaintiff’s lawyers for fees, disbursements and GST