CaseManastersky v. Royal Bank of Canada
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James Anthony Manastersky (hereinafter “Mr. Manastersky”) was employed with RBC Dominion Securities, in its RBC Capital Partners Unit (hereinafter “RBC”) as a director for the Mezzanine Fund. After being terminated and the offer from RBC was refused, litigation began. The Trial Judge determined that RBC owed Mr. Manastersky 18-months in reasonable notice, and that they owed him an additional 5 months (as RBC had already paid Mr. Manastersky 13 months in reasonable notice) in damages for lost opportunity to earn additional compensation from investments, and that the exchange rate of the payment should be based on the foreign exchange rate at the time of the investment, rather than at the time of its withdrawal. RBC did not dispute the 18-months notice finding, however they chose to appeal the amount of damages awarded.
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