Archive for the ‘Instaloan’ Category

Instaloans Case Update

Thursday, January 17th, 2008

The Instaloans National Class Action claim is now completed. All individuals who have submitted claims have either received their compensation or have been denied their claim pursuant to the review of the Claims Administrator under the guidelines set out by the Ontario Superior Court of Justice.

No new claims can be processed through the Class Action.

All individuals who have or may have a perspective claim are free to proceed as against the Defendants exclusive of the Class Action in any jurisdiction in Canada.

Cuming, Gillespie & Raymaker will not be acting on behalf of any individual claimants in this matter.

Instaloan Class Action Settlement Update

Thursday, May 24th, 2007

Our firm has been advised by the Administrator that the mailouts confirming the determination of claims will begin this week.

Pursuant to an Order of the Ontario Superior Court of Justice, the Administrator of the claim has determined eligibility for compensation, as well as compensation levels for each eligible claimant. All eligible and ineligible claimants who applied for benefits will be included in the mailout process.

If you did not apply for benefits, you will not be included in the process, and your time for applying has expired. Your claim for benefits will therefore not be processed.

If you receive a letter from the Administrator indicating that you are NOT ELIGIBLE to receive a benefit, the reasons for the decision will set out in your letter. If you are deemed ineligible by the Administrator, this decision will have followed the settlement and approval process which was reviewed and approved by a court and was followed by the Administrator.

If you do not agree with the decision of the Administrator and believe you should have received a benefit THEN YOUR REMEDY IS TO OPT OUT OF THE CLASS by returning the Opt Out Form which will be included with your letter from the Administrator and mailing it back to McNally Cuming Raymaker within 45 days of the date of the letter from the Administrator.You can then pursue your own individual claim should you wish to do so otherwise you be bound by the decision of the Administrator. McNALLY CUMING RAYMAKER WILL NOT BE ACTING FOR YOU IN ANY OPT OUT CLAIMS - you must pursue your own remedy as the Administrator has determined you are not eligible.

If you receive a letter from the Administrator together with a cheque for your calculated benefits amount, the amount you have receive is what has been calculated by the Administrator. The formula for payment was reviewed by the court and approved by the Court for fairness. If you DISAGREE WITH THE AMOUNT your REMEDY is to RETURN THE CHEQUE TO THE ADMINISTRATOR within 45 days of the date on the letter from the Administrator. IF YOU RETURN THE CHEQUE TO THE ADMINISTRATOR WITHIN THE TIME STIPULATED, YOU WILL BE DEEMED TO HAVE OPTED OUT OF THE CLASS ACTION. You can then pursue your individual claim on your own. McNALLY CUMING RAYMAKER IS NOT ACTING FOR ANYONE WHO RETURNS A CHEQUE AND THEY MUST PURSUE THEIR OWN CLAIM. IF YOU CASH YOUR CHEQUE you are DEEMED TO HAVE ACCEPTED THE SETTLEMENT.