In a brief (15 minute) hearing this morning, Chief Justice Geoffrey Morawetz granted two sets of requests for court orders.
The first, made by the lawyers representing the Quebec class action on behalf of themselves and the three other claimant classes (Pan Canadian Claimants, Knight action and Tobacco Producers) will authorize these lawyers to sign releases and other documents required by the settlement plans.
The second, made by the Monitors-cum-Plan Administrators, will authorize the assignment of managing the settlement funds by BMO.
The two orders which will be endorsed later today were described as "critical elements" of the settlement plan which is expected to take effect on August 29th. There were signals that there will be other issues that need court approval before that date.
The orders which were approved today can be found in the material submitted to the court:
- Motion of Quebec Class Action Plaintiffs for a Signing Authorization Order
- Motion for a Bankings Arrangements Order
