Talon Class Action

Frequently Asked Questions

1. Who does this Settlement apply to?
2. Who is an Excluded Purchaser?
3. How do I submit a claim?
4. What supporting documentation am I required to submit with my completed Claim Form and Attestation?
5. What is the deadline to submit my Claim Form and Attestation?
6. How do I get more information?

1. Who does this Settlement apply to?

   All purchasers, except "Excluded Purchasers", of hotel condominium units (the "Hotel Units") in the hotel portion (the "Trump Hotel") of the Trump International Hotel and Tower Toronto (the "Trump Tower") who:

   (a) signed or who had signed on their behalf agreements of purchase and sale with the developer, the Defendant ("Talon");

   (b) paid or who had paid on their behalf deposits or portions of deposits to Talon; and

   (c) did not complete their transactions with Talon.

   A claim cannot be made by a person or corporate entity which purchased a Hotel Unit for the purpose of re-selling the unit by direct sale or assignment (defined in the Settlement Agreement as an “Ineligible Claimant”) and which may attempt to make a Claim for its own benefit. However, “Ineligible Claimant” does not include a person to whom such person or corporate entity assigned its interest pursuant to a written assignment agreement.

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2. Who is an Excluded Purchaser?

   a. purchasers against whom Talon has obtained a judgment forfeiting their deposit(s); and

   b. purchasers who have obtained a judgment against Talon for repayment of their deposit(s)

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3. How do I submit a claim?

   To receive a payment under the Settlement, you must complete the online Claim Form and Attestation and submit it to the Claims Administrator by May 19, 2023.

   Please be advised that you will be required to upload supporting documentation. We recommend that you locate the required supporting documentation before attempting to complete this Claim Form and Attestation.

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4. What supporting documentation am I required to submit with my completed Claim Form and Attestation?

   You will be required to provide copies of the following documents.

   • Valid government issued ID proving your identity as the claim filer
   • If you are filing on behalf of a corporation
     • Articles of Incorporation 
     • Valid government issued ID
     • Shareholder’s Resolution authorizing the filing of this Claim 
   • Direct Purchaser Claimants must provide a copy of the Agreement of Purchase and Sale with Talon or any other document that would demonstrate you entered into an Agreement of Purchase and Sale directly with Talon.
   • Indirect Purchaser Claimants must provide a copy of the assignment agreement with a person or corporate entity or any other documentation that would demonstrate you purchased a hotel unit by way of an assignment agreement. 
   • Proof of deposit on a Hotel Unit
   • Estimated Return on Investment Documentation ((i.e., the marketing and promotional material created by the Defendant explaining the potential revenue that could be earned as the owner of a Hotel Unit) if available
   • Any other documentation between Talon and the Claimant after entering into the Agreement of Purchase and Sale or assignment agreement, including without limitation, any settlement agreements, mutual releases or judgments in favour of the Claimant or in favour of Talon

    

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5. What is the deadline to submit my Claim Form and Attestation?

   The deadline to submit your Claim Form and Attestation is May 19, 2023, late submissions will not be accepted.

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6. How do I get more information?

   Please contact class counsel if you have additional questions about the settlement.

   Flaherty McCarthy LLP
   Attention: Sean A. Brown
   Toronto-Dominion Centre
   95 Wellington Street West, Suite 1000
   Toronto, ON M5J 2N7
   Email: [email protected]

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