Legal Notice

The claims period has now ended.  No additional claims can be accepted.

NOTICE OF THE SETTLEMENT OF THE ALBERTA AND MANITOBA CLASS ACTIONS AGAINST MONEY MART AND AGAINST CERTAIN MONEY MART FRANCHISE STORES IN ALBERTA (the “Actions”)

 

Read this notice carefully as it may affect your rights.  This notice was approved by the Alberta Court of Queen’s Bench and the Manitoba Court of Queen’s Bench

 

This notice is directed to all residents of:

 

(1)             Alberta who borrowed a Fast Cash Advance (or payday loan) from Money Mart in Alberta between October 16, 2001 and February 28, 2010 or from Money Mart Spruce Grove Ltd., Money Mart St. Albert Ltd., Money Mart Leduc Ltd., Noralta Money Mart Ltd., 1008485 Alberta Ltd., 815028 Alberta Ltd., 632758 Alberta Ltd., or Money Mart Lloydminster Ltd. between December 1, 2005 and February 28, 2010; and

(2)             Manitoba who borrowed a Fast Cash Advance (or payday loan) from Money Mart in Manitoba between April 26, 1998 and October 18, 2010;

and repaid that loan using a first party cheque delivered at the time the loan was obtained (“Eligible Fast Cash Advance Transaction”).

A settlement reached in the Actions was approved by the Alberta Court of Queen’s Bench on August 28, 2017 and by the Manitoba Court of Queen’s Bench on October 24, 2017.  The settlement is a compromise of disputed claims.  The defendants do not admit any wrongdoing or liability.

 

The class actions sought to require National Money Mart Company and certain of its Franchisees to pay damages equal to the cheque cashing fees that you paid when repaying Eligible Fast Cash Advance Transactions (the “Fees”), on the theory that such Fees breached s. 347 of the Criminal Code of Canada.  The Defendants deny that they owe damages.

 

Who is part of the class actions?

You are a member of the Class and entitled to participate in this settlement if you obtained an Eligible Fast Cash Advance Transaction (Collectively, the “Class Members”).

 

What are the terms of the settlement?

Each Class Member submitting a claim is entitled to receive a refund of up to 100% of the Fees they paid (subject to reductions for legal expenses and repayment of any unpaid loans), and to have all or a portion of their debts to Money Mart forgiven.

 

Refunds will be in the form of a Deferred Cash Payment and Services Voucher that is redeemable for cash in 3 years from issuance.  The Deferred Cash Payment and Services Voucher can also be used immediately for services at a Money Mart store.  A total of $21,385,000 will be available for these refunds in Deferred Cash Payment and Services Vouchers (the “Settlement Amount”).  The precise amount of your refund will depend upon the total amount of the claims made against this Settlement Amount, may be reduced to pay your share of the legal expenses approved by the Court, and will be offset by any amount owing by you to any of the defendants. If the Settlement Amount available to pay claims is less than the total amount of the claims made, you will receive a pro rata share of the Settlement Amount.

 

The complete terms and conditions of this Court approved settlement are contained in the Settlement Agreement, which is available at www.moneymartclassaction.ca.

 

How do I make a claim?

To receive compensation under the settlement a Class Member must, on or before April 22, 2018, submit a Claim Form using one of the following methods:

1.      Completing the online Claim Form;

2.      Calling the toll-free number 1-800-639-0225 and providing a customer service representative with the information required to complete a Claim Form; or,

3.      Completing and signing a Claim Form, attaching a copy of his/her Identification Document thereto and submitting it:

 

a.            by mail to:

 

Bennett Mounteer LLP

400 – 856 Homer Street

Vancouver, BC  V6B 2W5

 

b.            or by fax to:            (604) 639-3681                  

 

c.            or by e-mail to:        claims@moneymartclassaction.ca

 

A postcard notice will be delivered by mail to the last known address of all identified Class Members.

 

Class Members must submit a Claim Form on or before April 22, 2018 to receive compensation under this settlement. Failure to submit a claim form on or before April 22, 2018 will forever eliminate all rights to claim/receive settlement compensation, as you will be bound by the terms of the release.

 

Opt-Out Rights

 

In order to opt-out of this settlement a Class Member must return a completed and signed Opt-Out Form to Bennett Mounteer LLP on or before April 22, 2018. 

Important Dates

February 21, 2018

Start of Claims Period

April 22, 2018

Deadline to Make a Claim or opt-out of the Settlement

July 15, 2018

Date that Entitlement Letters were mailed.

August 15, 2018

Deadline to file an Appeal of your entitlement amount.

December 24, 2018

Payment Date

December 24, 2021

Beginning of cash redemption period.

March 24, 2022

Estimated end of cash redemption period.

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