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Venue Financial

UPDATED December 29, 2017

A settlement has been reached in Kidd v. Venue Financial Ltd. et al,

B.C. Supreme Court, Vancouver Registry No. S1611539. 

 

This action alleges that Venue Financial Ltd. has provided title loans in a manner which is contrary to the Criminal Code and seeks to recover monies alleged to have been unlawfully received in relation to these loans.  Venue Financial Ltd. denies these allegations, and they remain unproven.

 

On August 14, 2017, the Honourable Justice Forth of the B.C. Supreme Court approved the settlement of this class action.  The settlement does not constitute an admission by or a finding of liability against Venue Financial Ltd., and is a compromise of disputed claims.

 

Am I entitled to compensation?
 

You may be entitled to compensation if you borrowed a title loan, i.e. a short term loan which required you to provide an interest in personal property (such as a car) as security for the loan, from a Venue Financial location in British Columbia or Alberta, and you repaid the loan within 160 days of the date the loan was advanced.

 

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 Loan Fees they paid in relation to title loans repaid in full within 160 days from the loan advance, plus interest, subject to reductions for administrative and legal expenses.

 

To fund the payment of claims, Venue Financial Ltd. will establish a Settlement Fund of $310,000.  The precise amount of your refund will depend upon the total amount of the claims made against this Settlement Fund, and may be reduced to pay your share of the administrative and legal expenses approved by the Court.  If the amount of the Settlement Fund available to pay claims is less than the total amount of the claims made, you will receive a pro rata (reduced) share of the Settlement Fund.

 

The complete terms and conditions of this Court approved settlement are contained in the Settlement Agreement.

 

How do I make a claim?

 

The claims period for this class action has now ended.

 

If I made a claim, how do I update my address?

 

Please email sc@hbmlaw.com to update your address.