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2018
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LEXPERT 39
Prophet, Clifton P. Gowling WLG
(416) 862-3509 clifton.prophet@gowlingwlg.com
Mr. Prophet is a partner and leader of Gowling WLG's Restructuring and
Insolvency National Practice Group. He practises restructuring and
insolvency, with a focus on litigation. His experience includes significant
retainers for Canadian financial institutions, creditors, monitors, receivers,
trustees in bankruptcy and corporate debtors. He is a member of the
Insolvency Institute of Canada.
Préfontaine, Éric Osler, Hoskin & Harcourt LLP
(514) 904-5282 eprefontaine@osler.com
Mr. Préfontaine is a Key Contact of Osler's national Class Actions Specialty
Group and an experienced class actions practitioner with specialized
expertise in the defence of consumer protection, product liability, and
securities matters. While leading the firm's class action matters in Québec,
he also consistently brings his expertise to multi-jurisdictional matters
for firm strategic clients.
Prather, Valerie R. Bennett Jones LLP
(403) 298-3486 pratherv@bennettjones.com
Ms. Prather is co-head of Bennett Jones' Health Law group. Her practice
focuses on professional negligence and administrative law. She represents
physicians before the courts when they are sued for medical negligence
and provides assistance in dealing with professional conduct issues
before the College of Physicians and Surgeons and various hospital
administrative tribunals.
Pliszka, Peter J. Fasken Martineau DuMoulin LLP
(416) 868-3336 ppliszka@fasken.com
Mr. Pliszka, a senior partner in Fasken's Litigation Group, is regarded as one
of Canada's leading litigation lawyers. His practice is focused primarily on
product liability, class action, commercial and insurance litigation matters.
He has managed litigation proceedings across Canada, and has appeared
at all levels of court in the nation, including the Supreme Court of Canada.
Pillon, Elizabeth Stikeman Elliott LLP
(416) 869-5623 lpillon@stikeman.com
Ms. Pillon is a partner in the Litigation Group and Head of Toronto's
Restructuring & Insolvency Group. She is experienced in Ontario and cross-
border restructurings and has appeared before various courts nationwide.
She represents debtors, Court Officers, secured creditors, purchasers of
distressed assets, administrators and has been appointed as representative
counsel in proceedings.
Picco, QC, FCIArb, Dennis L. Dentons Canada LLP
(780) 423-7322 dennis.picco@dentons.com
As a partner in the Firm's Litigation and Dispute Resolution group, Mr. Picco's
practice focuses on contract disputes, construction, risk management and
insurance. He represents various companies in the construction industry,
including architects and engineers in professional liability disputes, and
counsels clients in the areas of intellectual property, commercial
and contractual disputes.
LEXPERT-RANKED LAWYERS
they are not yet in force.
Both would make benchmark manipulation a
specific offence, Laing adds.
ere are two forms of benchmark that tend to
be at issue in class action litigation: submission-
based and transaction-based. Submission-based
benchmarks are developed by individual market
participants submitting figures at daily or regu-
lar intervals, which are used as inputs to develop
a benchmark rate. e latter "is based on market
activity; whatever the market price is at a certain
point in time will become a benchmark. We've
seen class actions premised on both … forms in
Canada," Laing explains.
"ere have also been changes in policies, pro-
cedures and compliance mechanisms around the
way various benchmarks are set," she says. Class-
action lawsuits in benchmark cases may be "a
trend right now, but I don't think we'll see endless
benchmark class actions in Canada; the issues that
provoked them have been addressed through these
various mechanisms."
As well, since this is a new form of class action
that has not been analyzed to any meaningful ex-
tent by Canada's courts, there are many questions
about how this litigation will play out, Laing says.
Benchmark cases are essentially a hybrid between
securities class actions and competition class ac-
tions, she notes, and a benchmark is not itself a
product, but an "input" that can affect how deriva-
tives and financial products are priced.
"It is not like a conventional product, the pricing
of which tends to be at issue in a competition class
action, so novel defences and arguments arise."
PHOTO:
SHUTTERSTOCK
