LONDON, ON, Nov. 3, 2011 /CNW/ - On behalf of 1.8 million participating
policyholders, Jay Jeffery, Bill Rudd and John McKittrick, class
representatives in the matters Jeffery v. London Life Insurance Company and McKittrick v. Great-West Life Assurance Company, are gratified by the decision of the Ontario Court of Appeal which
confirms that the use of participating policyholder funds in the 1997
acquisition of London Life by Great-West Life failed to comply with
Generally Accepted Accounting Principles (GAAP) and the Insurance Companies Act.
The Class Representatives look forward to resuming the prosecution of
all remaining matters to a conclusion before the trial judge in London
Class members are represented by Harrison Pensa LLP and Bates
Barristers. A copy of the judgment can be found on the Ontario Court of
Appeal's website at http://www.ontariocourts.on.ca/decisions_index/new_releases.htm.
SOURCE Harrison Pensa LLP
For further information:
Paul Bates, Bates Barristers - 416.869.9898
Jon Foreman, Harrison Pensa LLP - 519.661.6775
David Williams, Harrison Pensa LLP - 519.661.6782