Dec 13, 2005
Baldwin v. Daubney
Irving Marks and Barbara Green represented the Bank of Montreal (BMO) defending an action brought by a large number of plaintiffs who dealt with the same investment advisor. It was alleged that the investment advisor had negligently induced his clients to borrow money from BMO and other lenders in order to invest in the stock market. The investors lost their money in a market downturn and claimed that the lenders, including BMO, owed them a duty of care and were negligent in allowing them to borrow the money. We were successful in establishing that BMO had no such duty of care and the action was dismissed. The decision was upheld on appeal to the Court of Appeal.