TORONTO--(BUSINESS WIRE)--Home Capital Group Inc. (“Home Capital” or “the Company”) (TSX:HCG) today announced that its subsidiary, Home Trust Company has received a decision from the Ontario Superior Court in connection with a motion by the plaintiff to certify the class action related to consumer HVAC rental equipment financing and for summary judgment in that case.
The Court has ordered certification of certain of the issues advanced by the class against Home Trust and its co-defendant. The Court held that this was not an appropriate case for summary judgment as sought by the plaintiff.
There will be a trial on terms and timing to be fixed by the court.
Home Trust continues to believe that it has good and valid defences to this claim and the Company intends to fully defend its conduct.
About Home Capital
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through a direct-to-consumer brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.