Christina Doria

Christina Doria is a partner in Baker McKenzie's Toronto office. She is recognized by Who's Who Legal (“WWL”) Canada - Arbitration 2020 as a national leader, and by WWL Arbitration 2020 and 2021 as a Future Leader. She is also recognized by The Legal 500 as a rising star for dispute resolution, and by the 2019 and 2020 Canadian Legal Lexpert Directory as a Leading Lawyer, Commercial Arbitration. She writes and speaks regularly on international arbitration and is an Advisory Board member of Young Canadian Arbitration Practitioners (YCAP). Christina has served as an arbitrator and has acted on commercial arbitrations under UNCITRAL, AAA/ICDR, BCICAC, ADRIC and CPR rules, as well as on investor-state arbitrations under ICSID, UNCITRAL and NAFTA. Christina can be reached at [email protected] and + 1 416 865 2348.

The Ontario Court of Appeal in Excalibur Special Opportunities LP v. Schwartz Levitsky Feldman LLP 2016 ONCA 916, has overturned two lower decisions, certifying a securities fraud class action against a Canadian auditor in which 98% of the class members were not Canadian. The judgment offers helpful guidance to parties seeking to bring or defend global class actions in Ontario.

The class action is based on allegations of negligence and negligent misrepresentation over an audit report prepared by Schwartz Levitsky Feldman LLP (“SLF”). Excalibur is a Toronto-based fund and was one of 57 “accredited investors” that invested a total of $7.5 million in Southern China Livestock International Inc. (“Southern China”), a Nevada company that owned and operated hog farms in China. One other investor was a Canadian resident, 50 were American and the remaining investors resided in the Cayman Islands, Samoa, Malaysia and the United Kingdom. In 2010, SLF prepared a one-page audit report of Southern China’s financial statements that was appended to a private placement memorandum. The essence of the claim is that in light of the true state of Southern China’s all-cash business, SLF could not have provided a clean audit report in accordance with generally accepted accounting principles, as it had professed to.

On February 14, 2013, the Federal Court of Appeal in Kerry Murphy v. Amway Canada Corporation confirmed that Canadian courts will hold parties’ to their agreement to arbitrate, unless there is express legislative language in a statute that excludes or prohibits arbitration agreements or class action waivers. Kerry Murphy (“Murphy”) brought a proposed class action proceeding against the respondent, Amway Canada Corporation (“Amway”). Murphy claimed that Amway’s business practices violated various sections of the Competition Act,…