Seven Judges of the Supreme Court of Canada have split, 4-3, on whether an auditor owes the audited company (and its creditors/shareholders) a duty of care, and the analysis of the scope of such duty.
Clarence Lui was recently interviewed by the Law Times on the recent Ontario Court of Appeal decision in Usanovic v. Penncorp Life Insurance Company.
According to the Ontario Court of Appeal in Usanovic v Penncorp Life Insurance Company, 2017 ONCA 395, an insurer’s duty of utmost good faith to its insured does not require it to disclose the existence of a limitation period. That is, unless the provincial parliament decides otherwise.
I am often asked by our astute clients whether they should apply under the two procedures provided in section 23 or 24 of the Ontario Repair and Storage Liens Act, on disputes with repair shops and tow operators over repair, tow and storage charges.
We learn from an early age that sharing is virtuous.