PLEASE READ THE NOTICE CAREFULLY AS IT MAY AFFECT YOUR LEGAL RIGHTS.

SUMMARY

This website is directed to all persons (the “Class” or “Class Members”) who owned, rented, and/or ordinarily resided in a residential condominium unit at the premises municipally known as 361 Front Street West (East Tower) and 373 Front Street West (West Tower) in the City of Toronto between March 1, 2011 to and including September 15, 2014 (“Class Period”), and who have not already opted out of the class proceeding.

This is concerning  the proposed settlement (the “Settlement”) of a class action lawsuit against Concord Adex Developments Corporation, Toddglen Construction Limited, and Toronto Standard Condominium Corporation No. 1438 (the “Defendants”). The lawsuit alleges on March 1, 2011, a balcony guardrail assembly installed on a unit on the eleventh (11th) floor failed and dislodged from the building and fell down to the third (3rd) floor terrace area (the “Falling Balcony Guardrail Incident”). As a result of that incident, all the balconies of all Matrix towers were sealed until the balcony guardrails could be replaced, which was finished in September 2014. The Defendants deny that they have violated any laws and deny that they have engaged in any wrongdoing.

The parties have entered into a settlement agreement (the “Settlement Agreement”). In order for the Settlement to become effective, it must be approved by the Ontario Superior Court of Justice (the “Court”). If the Court approves the Settlement Agreement, the Defendants will pay $1,750,000 (the “Settlement Fund”), inclusive of prejudgment interest to settle the claims of the Class Members, including the Legal Fees and Disbursements and the costs of administering the Settlement, in return for a release and a dismissal of the class action.

Are you a part of the Settlement?

If you owned, rented, and/or ordinarily resided in a residential condominium unit at the premises municipally known as 361 Front Street West (East Tower) and 373 Front Street West (West Tower) in the City of Toronto between March 1, 2011 to and including September 15, 2014 (“Class Period”), and you have not already opted out of the class proceeding, you are an Eligible Class Member.

Summary of Settlement Benefits

Eligible Class Members will receive an award calculated on the amount of the Settlement Fund remaining after payment of legal fees, payments of honoraria, disbursements, and taxes thereon, and administrative expenses for the settlement administration (the “Net Settlement Fund”).  The Claims Administrator will calculate awards on a per unit basis.  The award for units is estimated at about $1,300 per unit (the “Awards”).

These amounts are based on an award per unit over the Class Period without consideration of (a) the number of people living in the unit, or (b) the size of the balcony in the unit. If after all eligible claims are calculated there remains a surplus in the Net Settlement Fund, then the balance is to be allocated to the claimants who submitted an eligible claim and distributed proportionally. If the Net Settlement Fund is insufficient to pay the Awards then the fund shall be shared proportionally amongst all eligible claims.

If unit owner(s) and/or a tenant(s) was in possession of the unit for all or part of the Class Period, the owner(s) and/or the tenant(s) will share the payment based upon the month(s) each occupied the unit during the Class Period. If, during the Class Period, a unit owner gave a rent abatement to a tenant, the owner will be reimbursed for that abatement in priority to the tenant.

You cannot make a Claim until after the Settlement is approved. If the Settlement is approved, further notice of the Settlement will NOT be given.

Bookmark this website as updates will be posted as the case progresses. 

PLEASE DO NOT CONTACT THE COURTS OR DEFENDANTS WITH INQUIRIES ABOUT THIS SETTLEMENT.

All inquiries should be directed to Class Counsel or the Claims Administrator.

MORE INFORMATION

Additional information about the settlement can be found on the Documents page of this website.

To learn more about this settlement, please review the Frequently Asked Questions (FAQ).