Toronto (Canada) – Fasken was honoured 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.
Litigation and Dispute Resolution
The Firm’s Litigation and Dispute Resolution group delivers successful and creative strategies tailored to its clients’ goals. By emphasizing strategy, the group places solutions ahead of problems and outcomes ahead of process. The team is dedicated to helping clients navigate complex legal challenges with confidence and clarity, providing strategic, results‑oriented solutions aligned with each client’s specific objectives, business context, and operational priorities. Clients trust the group not only for its legal expertise, but also for its ability to think strategically, act decisively, and deliver results that protect their interests. With deep experience across industries and jurisdictions, the team handles high‑stakes disputes with precision and professionalism.
The group is known for its exceptional service and strategic excellence, consistently helping clients resolve complex matters efficiently and effectively. Through a combination of deep legal insight, commercial awareness, and a commitment to responsiveness, the team builds lasting relationships and delivers value that extends beyond the immediate dispute. The team’s ability to manage sensitive issues, anticipate challenges, and drive favourable outcomes continues to position it as a trusted advisor to clients across sectors and geographies.
About Fasken
As a premier law firm with more than 900 lawyers worldwide, Fasken is where excellence meets expertise. We are dedicated to shaping the future our clients want, precisely when it matters most. For more information, visit fasken.com.
