Friday, January 29, 2010
The Carters Professional Corporation, a Canadian law firm, reports that the Ontario Superior Court of Justice has certified a class action brought on behalf of 2,825 individuals who participate in the Banyan Tree Foundation Gift Program. We previously blogged about the Canada Revenue Agency's decision to disallow over $200 million in donations to the Foundation. According to the Carters' report, the plaintiffs in the current lawsuit are asserting breach of contract and negligence claims against both the promotes of the program and a law firm that provided legal opinions in support of the program. According to a letter on the Foundation's website, the Minister of Revenue revoked the Foundation's charitable status on September 19, 2008.