Ontario Superior Court Certifies National Class Action Against Aviva Insurance Company of Canada for COVID-19 Related Business Interruption Insurance
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Ontario Superior Court Certifies National Class Action
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Cresford Developments
After a year of litigation and negotiation most of the 492 preconstruction purchasers in the insolvent Clover on Yonge condominium project have agreed to a reorganization plan that will allow the Concord Group of Companies to finally finish the 44-storey building in downtown Toronto.
“It took longer than we expected,” said David Gruber, a lawyer with Bennett Jones LLP, who represented Concord. “Our original thinking was we’d get where we are now around September. There were bumps along the way, but our original thinking turned out to be right that everybody’s interests were aligned in that you’re going to get a better outcome than if [Clover] were just sold in receivership.”