Another class action lawsuit has been launched in Canada with respect to a charity donation tax shelter arrangement. The class action law suit concerns Donations Canada Charitable Donation program which was a program marketed by Parklane Financial Group Limited.
According to the website of Landy Marr Kats LLP at http://www.thetorontolawyers.ca/class_actions.htm
“Parklane Financial Group Limited Landy Marr Kats LLP is once again standing up for the Canadians in another class action. On September 18, 2008 a new class action was launched by Landy Marr Kats LLP. Michael Cannon as Representative Plaintiff seeks $50 million dollars in damages on behalf of himself and all investors in the Donations Canada Charitable Donation program (a program sold and marketed by Parklane Financial Group Limited)”
Here is a copy of the Amended Statement of Claim http://www.thetorontolawyers.ca/PDFs/Fresh%20as%20Amended%20SOC%20-%20Jan%208-10.pdf
The defendants in the Amended Statement of Claim are FUNDS FOR CANADA FOUNDATION, DONATIONS CANADA FINANCIAL TRUST, PARKLANE FINANCIAL GROUP LIMITED, TRAFALGAR ASSOCIATES LIMITED, TRAFALGAR TRADING LIMITED, EDWIN C. HARRIS Q.C., PATTERSON PALMER also known as PATTERSON LAW, STEPHEN FREEDMAN, RON K. OLSTHOORN, SAM ALBANESE, KEN FORD, RIYAD MOHAMMED, DAVID RABY and GREG WADE
All these allegations have yet to be proved in court.
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Mark Blumberg is a partner at the law firm of Blumberg Segal LLP in Toronto and works almost exclusively in the areas of non-profit and charity law.