Desjardins Group's motion for enforcement of CCAA sanction order arising from ABCP restructuring proceedings

On October 10, 2025, Desjardins Group brought a motion before the Ontario Superior Court of Justice for the enforcement of the CCAA Sanction Order, including a release and injunction, arising out of the ABCP restructuring proceeding that arose from the 2008 financial crisis (Metcalfe v. Mansfield Alternative Investments 08-CL-007440). In breach of the Sanction Order, two class actions were commenced in the Superior Court of Quebec alleging claims relating to ABCP affected by the Sanction Order and therefore subject to the release and injunction.

The Ontario Superior Court of Justice (Commercial List) granted the motion, enjoining the Quebec class action plaintiffs from commencing or continuing any action, suits, demands or other proceedings of any nature or kind whatsoever, including their existing class actions, to the extent that they relate to ABCP affected by the CCAA Sanction Order and providing comprehensive guidance to the Superior Court of Quebec on the scope of the release and injunction as they relate to the Quebec class actions headed to trial.

McCarthy Tétrault assisted Desjardins Group with a team led by Geoff Hall that included Mason Poplaw, Audrey-Anne Delage (Litigation) and Gabriel Faure (Bankruptcy and Restructuring).