1426505 Ontario Inc. continues dispute with Jovian Capital over royalties

TORONTO, Jan. 30, 2017 /CNW/ - The mediation date has been set.  The plaintiff 1426505 Ontario Inc., the founder of the Accumulus North American Index Momentum RSP Fund, will be represented by Rickett's, Harris LLP.  The defendants, Jovian Capital Corporation, JovFunds Management Inc. and Jovian Asset Management Inc., are wholly owned subsidiares of Industrial Alliance Insurance and Financial Services Inc.  They will be represented by the firm Lenczner Slaght Royce Smith Griffin LLP.  The parties are involved in a dispute over the ninety-nine year royalty agreement that was completed back in 2004 in the purchase of Accumulus Management Ltd.  The statement of claim for $50 million was filed by 1426505 Ontario Inc. on July 14, 2010 after the closure of the Fund and termination of the royalty payments.  After many delays a mediation date is scheduled for January 31, 2017.  Presiding over the mediation is the retired Supreme Court of Justice for Ontario, the Honourable Colin L. Campbell.

SOURCE 1426505 Ontario inc.

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For further information: 1426505 Ontario Inc. at roymaiero@gmail.com

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