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News & AnnouncementsClass action on overcharging of interest on student loans - One third of former students eligible for a government refund still have not claimed their duefebruary 18, 2009Recent Judgement from January 27, 2009 MONTREAL, Feb. 18 /CNW Telbec/ - Last June, the law firm of Sternthal Katznelson Montigny l.l.p. (SKM) announced their $30 million class action victory against the Quebec department of Education, Leisure and Sport concerning interest overcharges by the government on student loans. The announcement followed a ruling by The Supreme Court of Canada that some 80,000 former CEGEP and university students in the province who had contracted their loans prior to April 30, 1998 were due financial redress for the overcharges. Today, eight months after the start of the reimbursement process (which is scheduled to end on June 1, 2009), approximately one half of the eligible students have received their refund from the government. The average refund was $500, and the highest one to date was $6,200. Many of the 40,000 former students who have not yet claimed their refund probably don't realize how significant these payments can be," said Guy St-Germain, a partner of SKM that won the class action. "Moreover, the refund process is extremely simple; probably the simplest of any class action I've ever seen." All that eligible candidates are requested to do is to log on to the refunds Web site at www.afe.gouv.qc.ca. No document or written proof is necessary. The amount of an individual's refund is automatically computed and, if the amount is accepted by the former student, a cheque is usually issued in less than a week. Candidates have until June 1, 2009 to make a claim. Victory for 15,000 former students previously excluded by the government Last summer, shortly after the reimbursement process got under way, SKM attorneys received many calls from former students complaining that the government refused to issue refunds to them because they had resumed their studies after April 30, 1998. SKM presented a Motion in the Fall of 2008, seeking redress for these students. On January 27, the Quebec Superior Court ruled in their favour, and ordered the government to reimburse these students as well. To date, there are no statistics on the proportion of students in this group of 15,000 who have applied for their refunds. "Our estimate is that one third of the 80,000 ex-students who can benefit from the class action victory have not yet made a claim," Mr. St-Germain said. As well, the government does not have the current address of some 5,000 eligible former students and has no intention of undertaking any measures to ensure that this group receives notice of their eligibility. SKM has asked the government for the 5,000 undelivered notices so that the law firm may itself initiate a search for these former sudents. The firm is still awaiting a reply. In addition to the government's Internet address, www.afe.gouv.qc.ca , and a group has been created on Facebook : Recours collectif - Prêts étudiants/Student Loan Class Action (Quebec), where members can follow events in the case. The Quebec government may also be reached by a (toll free) telephone number at 1-866-584-3979. Interested parties may reach Sternthal Katznelson Montigny toll free at 1-877-878-9040, or by E-mail at recourscollectif@skm.ca. |
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ArchivesCorporate Financing Transactions Junejuly 06, 2010 Corporate Financing Transactions Aprilmay 21, 2010Corporate Financing Transactions -Marchmay 21, 2010SKM -THE FIRM FOR ENTREPRENEURSmarch 10, 2010Nancy Cleman to speak at 12th YES Entrepreneur Conferenceapril 07, 2009Class action on overcharging of interest on student loans - One third of former students eligible for a government refund still have not claimed their duefebruary 18, 2009Class Action Recovery Process Has Begunjune 05, 2008Nancy Cleman to give two talks to entrepreneursfebruary 19, 2008Dikranian vs. Attorney General (Claims procedure)december 13, 2007Sylvie Grenier will give two conferences on Bankruptcy Lawseptember 06, 20077th Montreal Self Employed Artist Conferenceapril 25, 2007SKM CARES: RECLAIMjanuary 31, 2007Nancy Cleman to speak at YES Conference March 3january 04, 2007Update: Dikranian vs. Quebec (Attorney General)august 31, 2006Supreme Court of Canada grants appeal in favour of Dikraniandecember 02, 2005David Sternthal re-elected Councillor for the City of Hampsteadnovember 29, 2005Nancy Cleman to give lecture on law and the arts.november 15, 2005Sternthal Katznelson Montigny welcomes Sylvie Grenierjuly 29, 2005Harry Dikranian and Past Lives'april 12, 2005Leon Greenberg and Guy St-Germain appear before Supreme Court of Canadaapril 12, 2005The Montreal Artists Handbooknovember 17, 2004Supreme Court grants leave in Dikranian vs. Attorney Generalnovember 16, 2004 |
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