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Pepall, William E. Lerners LLP
(416) 601-2352 wpepall@lerners.ca
Mr. Pepall is a Certified Specialist in Civil Litigation. He has pleaded cases
at arbitration and before all levels of court in Ontario, and before the
Supreme Court of Canada. He has made special appearances before the
SEC, the OSC, and courts in Manitoba, South Carolina, and British Columbia.
His practice includes professional liability, securities, employment
and shareholder disputes.
Pasquariello, Joe Goodmans LLP
(416) 597-4216 jpasquariello@goodmans.ca
Mr. Pasquariello focuses on corporate restructuring, bankruptcy and
insolvency litigation. He represents key parties in high-profile and complex
domestic, cross-border and international matters, including Nortel and
Carillion. He is recognized as a leading insolvency/restructuring lawyer by
various guides, chairs industry seminars, and is a member of the Insolvency
Institute of Canada and INSOL.
Pasparakis, Orestes Norton Rose Fulbright Canada LLP
(416) 216-4815 orestes.pasparakis@nortonrosefulbright.com
Mr. Pasparakis's practice encompasses complex commercial and securities
litigation, shareholder activism, corporate reorganization and patent
litigation. He focuses on high-stakes disputes that often proceed
in "real time" or on an urgent basis.
Paré, Frédéric Stikeman Elliott LLP
(514) 397-3690 fpare@stikeman.com
Mr. Paré is a partner in the Litigation & Dispute Resolution Group and
an experienced trial lawyer. He specializes in commercial law, including
shareholder disputes, securities, transactional litigation, product liability,
as well as franchise law. He has also acquired extensive experience
in the defence of class actions of various natures.
Pape, Paul J. Pape Chaudhury LLP
(416) 364-8765 paul@papechaudhury.com
Mr. Pape's litigation practice focuses on complex commercial, securities,
class action, professional negligence and administrative matters, with
special emphasis on appeals in these and other areas. He is a Fellow of the
IATL and the ACTL. He has acted in a number of cases of significance. He is
an honourary member of The Commercial Bar of England (COMBAR). He was
called to the Bar in 1971.
Paliare, OO, LSM, Chris G. Paliare Roland Rosenberg Rothstein LLP
(416) 646-4318 chris.paliare@paliareroland.com
Mr. Paliare's practice embraces trials, hearings and appeals. His cases engage
commercial, administrative, class action, employment and professional discipline
matters. He is a Fellow of the IATL, ACTL, ISB and is an Hon. Fellow of COMBAR.
LEXPERT-RANKED LAWYERS
for each of these three cases [forex,
gold and silver benchmarks]; the
harm is felt everywhere. … If the
alleged conspiracy is internation-
al, the market is international."
Andrea Laing, a litigation part-
ner at Blake, Cassels & Graydon
LLP in Toronto who acts for class
action defendants, notes that these
types of lawsuits are relatively new.
"ey were sparked by certain
regulatory investigations, starting
in the 2012 timeframe in connec-
tion with Libor," she says. Since
then, there have been a number of
cases related to benchmarks, along
with regulatory investigations
into these activities, primarily in
the UK and US. is regulatory
activity has also sparked civil liti-
gation in the form of class actions.
"In Canada, we're seeing copy-
cat class actions when Canadian
plaintiffs' lawyers … have seen
fit to pursue actions that that are
premised on class action claims being brought in
the US," Laing explains. "We've started to see a
number of these cases in Canada over the last four
years. It's an illustration of how Canada is affected
by global regulatory and litigation trends; eventu-
ally we see some form of [that activity] here."
Enforcement activity in benchmark manipu-
lation has been greater in the United States than
in Canada, say counsel for the classes, with some
complaining that the Competition Bureau's lack
of enforcement has resulted in the class action bar
picking up the torch on behalf of plaintiffs.
"I'd say we do no enforcement" in Canada, says
Baert; compared to the United States and other
jurisdictions, "our regulatory action is almost
toothless. I'm not sure why our regulators couldn't
have done exactly what we did when we accumu-
lated information in the FX cases." In the US, he
adds, "a much more viable threat" exists to finan-
cial institutions manipulating benchmarks from
the federal government and its Securities and Ex-
change Commission.
But although there has not been "much overt
enforcement activity in connection with bench-
mark issues in Canada," Laing says, she notes
other responses including dra regulations.
British Columbia, Ontario, Saskatchewan, New
Brunswick, Prince Edward Island, and Yukon,
along with Canada on the federal level, are en-
gaged in trying to develop a common securities
regulator through the Cooperative Capital Mar-
kets Regulatory System initiative. Ontario's Cap-
ital Markets Act and the federal Capital Markets
Stability Act have already been draed, though
