12 Apr 2023
Baan v. Scotia Capital Inc.
In the case of Baan v. Scotia Capital Inc., dated April 12, 2023, Hans Baan sold shares he didn't own, putting his account in a negative position. Scotia Capital bought shares to compensate and sold Baan's other securities to cover the resulting debt. Baan filed a claim accusing Scotia Capital of wrongful conversion and negligence. Scotia Capital denied the allegations and counterclaimed for the debt and legal costs. Both parties sought a summary trial, agreeing that all issues could be resolved this way. The court dismissed Baan's claims and ruled in favor of Scotia Capital on its counterclaim. No amount of financial award and costs were specified in the case.