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Sep 4, 2006

Appeal Court says Bank Owes No Duty to Investors

Irving Marks and David Taub of our litigation department were successful in having the Ontario Court of Appeal unanimously uphold the trial decision dismissing an action against Bank of Montreal involving commercial lenders' liability in respect of investment loans. The court held that in a debtor and creditor relationship involving a lender and its customer, lenders owe no duty to advise customers not to undertake a loan.

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