Auto-Parts – Settlement

Settlement

A settlement has been reached with the defendant, Nishikawa Rubber Co. (“Nishikawa”), in the amount of $5,750,000.

The Nishikawa settlement releases the claims against Nishikawa, Nishikawa of America, Inc., Nishikawa Cooper LLC, Cooper-Standard Holdings Inc., Cooper-Standard Automotive Inc. and Cooper-Standard Automotive Canada Limited and is subject to court approval in Ontario. The motion to approve the settlement will be heard in the Ontario Court in the City of Toronto on July 10, 2019 at 9:30 a.m.  The hearing will be broadcast live via video link in the Québec Courthouse, at 300 Boulevard Jean Lesage, in the City of Quebec.  If you wish to attend the broadcasting, please email [email protected], to the attention of Karim Diallo no later than June 28, 2019.

The settlement is also subject to a further enforcement and recognition application to be held in Québec. Should the Ontario Court approve the Nishikawa settlement, a hearing will be held at the Québec Courthouse, at 300 Boulevard Jean Lesage, in the City of Quebec on September 10, 2019 at 9:30 a.m. to enforce and recognize the Ontario order. The objective of this process is to enforce, in Quebec, the potential Ontario order approving the Nishikawa settlement that will have been rendered in Ontario.

The settlement is also subject to a further recognition process in British Columbia. The potential Ontario order approving the Nishikawa settlement will be registered at the court registry in British Columbia in accordance with the Enforcement of Canadian Judgments and Decrees Act, or, failing this, an application will be brought before the British Columbia Court for an order recognizing and enforcing the order. The objective of this process is to enforce, in British Columbia, the potential Ontario order approving the Nishikawa settlement that will have been rendered in Ontario.

All Nishikawa Settlement Class members will be able to make submissions to the Ontario Court. Nishikawa Settlement Class members who are resident of Québec will further be able to make submissions to the Québec Court.  Please review the Notice of Certification for Settlement Purposes and Settlement Approval Hearing listed below for more information.

• English
• French

The settlement funds (plus interest, less court-approved fees and expenses) are being held in trust for the benefit of settlement class members. At a later date, the Courts will be asked to approve a method of distributing the settlement funds to settlement class members.

Contested Litigation

Litigation is continuing against the remaining defendants and is being case managed together with the other auto parts class actions by Justice Belobaba in Toronto.