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38. Will there be any money left over after paying each claimant’s share and the lawyers’ fees?

38. Will there be any money left over after paying each claimant’s share and the lawyers’ fees?

The lawyers have designed the distribution so that there is no money left over. We will write cheques to claimants for all of the money other than legal fees. We want as much of the money as possible to go to claimants.

There is a chance that some claimants will not deposit their cheques. If there is enough money from uncashed cheques, we will likely send out second cheques. Before we do anything with the money from uncashed cheques, we will send letters to all claimants to let them know what we are proposing to do. We will also have to get the Court to approve what we propose to do.

29. How many people are getting $0/$500/another amount?

Due to privacy concerns, we cannot post exact numbers on the website. However, we can advise that the payouts break down into four approximately equal groups:

  • roughly 1/4 of claimants are receiving $0;
  • roughly 1/4 of claimants are receiving $500;
  • roughly 1/4 of claimants are receiving between $500 and $10,000; and
  • roughly 1/4 of claimants are receiving more than $10,000.

27. Can I see the detailed calculations of my share / of everyone’s shares?

We are happy to send you detailed information about the calculation of your share. Please contact Kimberley Hill at khill@cfmlawyers.ca or 1-800-689-2322.

We cannot send you the details of the calculations of other claimants’ shares due to privacy concerns.

39. I do not agree with the distribution plan. What do I do?

First, please contact Class Counsel by emailing or phoning Kimberley Hill at khill@cfmlawyers.ca or 1-800-689-2322. Class Counsel may be able to answer your question or resolve your concern.

You may also consider participating in the webcast “town hall” meeting (see FAQ#51) or listening to the recorded webcast (audio only) (see FAQ#54).

If you still do not agree, you have the right to object to the Court. The Court will consider any comments or objections it receives. You can object by sending your objection in writing to Class Counsel (see FAQ#44 for names and addresses) by July 17, 2015.

You can also come to the Court hearing. It will be held on July 24, 2015, starting at 10:00 a.m., in the Vancouver Courthouse at 800 Smithe Street. If you come, you may be allowed to speak to the Court.

37. Will I be paid the amount of money set out in my letter? Are there any deductions from the amount set out in my letter for the lawyers?

The amount of money set out in your letter is an estimate only. We will not be able to calculate the actual amount until after the Court hearing, based on what the Court approves.

The lawyers’ fees and expenses were deducted before we calculated the amount in your letter. If we have estimated correctly, and if the Court approves everything that the lawyers are proposing, you will get the amount set out in your letter. If your share is close to or more than the estimate in your June letter, we will send you a letter confirming the amount and enclosing a cheque. We expect this to be the most likely outcome.

If your share has dropped substantially, we may have to go back to Court to decide what to do. In that case we will send you a letter explaining what has happened.

36. How will I get paid?

We will send you a letter confirming the amount and enclosing a cheque.

35. When will I get paid?

The earliest we will be able to issue cheques is late August or early September.

If anything does not go exactly as we hope, it will take us longer.

34. What if I do not agree with the amount of money you are giving me?

If you do not agree because the information about you in your June letter is wrong, please email or call Kimberly Hill of CFM at khill@cfmlawyers.ca or 1-800-689-2322. Kimberly will explain what you need to do to correct the information. The sooner you call her the better, but you will have 30 days after the Court approves the distribution plan to do so.

If you do not agree for some other reason, please contact Class Counsel by emailing or phoning Kimberley Hill at khill@cfmlawyers.ca or 1-800-689-2322. Class Counsel may be able to answer your question or resolve your concern.

You may also consider participating in the webcast “town hall” meeting (see FAQ#51) or listening to the recorded webcast (audio only) (see FAQ#54).

If you still do not agree, you have the right to object to the Court. The Court will consider any comments or objections it receives. You can object by sending your objection in writing to Class Counsel (see FAQ#44 for names and addresses) by July 17, 2015.

You can also come to the Court hearing. It will be held on July 24, 2015, starting at 10:00 a.m., in the Vancouver Courthouse at 800 Smithe Street. If you come, you may be allowed to speak to the Court.

 

33. The information about me in my June letter is wrong. What do I do?

Please email or call Kimberly Hill of CFM at khill@cfmlawyers.ca or 1-800-689-2322. Kimberly will explain what you need to do to correct the information. The sooner you call her the better, but you will have 30 days after the Court approves the distribution plan to do so.

32. Do I have to pay taxes on my share of the settlement funds or put it into my DC account/RRSP/pension?

It is not clear at law whether receipt of the settlement funds could attract income tax. We recommend that, if you have further questions about this, you should get tax advice.

You can do whatever you want with your share of the settlement funds. However, it is possible that the CRA will view this as a pension withdrawal. Putting it in one of those places will avoid that risk.

We recommend that, if you have further questions about this, you should get tax advice.

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