Fasken was honored with the Impact Case Award for Cash Store Financial Services Inc. v. KPMG LLP at the 2026 Benchmark Canada Litigation Awards.
Fasken defended KPMG in the C$150 million claim, with a team led by Gerry Ranking that included Jesse Harper, Pavel Sergeyev, Anita Hojabr and Robin Roddey. The matter was one of Canada’s largest and most complex professional liability cases in decades, arising from Cash Store’s insolvency proceedings. In a landmark ruling, the Court dismissed all claims, rejected the “deepening insolvency” theory of damages and confirmed important limits on auditor liability. The decision affirmed that professional advisers are not guarantors of a company’s financial health and must only be held responsible where a direct causal link is established. The judgment also resulted in a very significant costs award of $8.5 million in favour of the client.
The decision also reflects the quality of the Litigation and Dispute Resolution team’s advocacy. In its reasons, the Court expressly recognized counsel for their “first rate” written and oral submissions and noted the “admirable levels of cooperation, civility and professionalism” demonstrated throughout what it described as a complex and hard‑fought proceeding. The acknowledgment underscores the team’s depth of experience in managing high‑stakes litigation and its commitment to the highest standards of professional excellence.
The Benchmark Canada Litigation Awards recognize Canada’s leading litigators and law firms for outstanding work in dispute resolution. Winners are selected through a rigorous peer-review and research process conducted by Benchmark Canada Litigation, highlighting the most impactful cases and the professionals involved. The awards honour excellence at both the national and local levels.