Lochan v Biance Holdings Limited was an appeal from the certification of a class action brought on behalf of investors who purchased cryptocurrency derivative products through an asset trading platform operated by the Appellants. The Claim alleged that the Appellants engaged in the business of trading securities in violation of the Securities Act giving rise to both common law and statutory causes of action. The Court held that the motion judge did not err in finding that the Claim pleaded a reasonable cause of action pursuant to both the Securities Act and under the common law. Furthermore, the Court held that the motion judge did not err in finding that the Respondents had met their burden of establishing that there was “some basis in fact” for their proposed common issues. As a result, the appeal was dismissed.
Hartin Estate (Re) reminds appellate counsel that the deadline to perfect an appeal does not start to run until the appellant is notified that the transcripts are ready. The failure of a self-represented party to order the transcripts in this case was excused.
Other decisions this week included the enforcement of a foreign judgment.