MM Fund v. Excelsior Mining Corp.
MM Fund
Law Firm / Organization
Not Specified
Excelsior Mining Corp.
Stephen Twyerould
Mark Morabito

Background: The case centered on MM Fund, a mutual fund based in Toronto, Ontario, appealing a decision that denied its application to certify a class proceeding against Excelsior Mining Corp., Stephen Twyerould, and Mark Morabito. The class action aimed to address alleged misrepresentations in a prospectus that affected the value of securities sold.

Legal Issues: Whether MM Fund, based in Toronto, Ontario, qualified as a resident of British Columbia under the Class Proceedings Act to initiate a class action lawsuit in British Columbia.

Outcome: The appeal was dismissed, affirming that MM Fund lacked standing as it was not a resident of British Columbia. The court did not find any basis to alter the understanding of residency to accommodate MM Fund's claim. The decision emphasized the necessity of a physical or significant operational presence within the province to qualify as a resident under the Class Proceedings Act.

Costs/Damages Awarded: There was no specific mention of the total amount of costs or award in favor of the successful party in the document provided.

Court of Appeals for British Columbia
CA48572
Corporate & commercial law
Respondent