Banyan Tree Foundation, law firm Fraser Milner Casgrain sued for $55m in class action lawsuit
Posted under What's New from the Charities Directorate of CRA | Canadian Charity Law | Ethics and Canadian Charities | Avoiding 'Charity' Scams
The law firm of Scarfone Hawkins LLP in Hamilton has recently brought a class action lawsuit against a number of parties for their involvement with the Banyan Tree Foundation including the law firm of Fraser Milner Casgrain. It will be interesting to see how this case turns out. I predict that there will be other cases against other law firms that have been involved with preparing opinion letters for transactions that CRA considers to be “shams”. The allegations in the statement of claim have yet to be proved in court.
For more information including the Scarfone Hawkins press release see:
Here is a copy of the Statement of Claim: