Does a bank have the authority to strike out certain parts of its statement of claim relating to derivative claims?
British Columbia, Canada
The following excerpt is from Watson v. Imperial Financial Services Ltd., 1994 CanLII 3293 (BC CA):
37 In my opinion, it cannot be said that it is clear and obvious that the fraud exception to the rule in Foss v. Harbottle does not apply in this case. That being so, I do not think the respondent bank can succeed in its application to strike out those parts of the statement of claim dealing with the derivative claims.
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