In Kaynes v BP p.l.c, 2021 ONCA 36, the Ontario Court of Appeal clarified when a claim for fraudulent misrepresentation is discoverable under the Limitations Act, 2002, S.O. 2002, c. 24, Sched. B (Limitations Act), and in what circumstances it is appropriate for a limitation issue to be decided on a Rule. 21.01(1)(a) motion.

Facts:

The Deepwater Horizon incident occurred on April 20, 2010.  In November 2012, the appellant, who had purchased shares of BP in 2008, commenced a putative class action in Ontario based on a decline in the value of his shares following the incident … Continue Reading