To use a court example, if a court case is filed before the end of the fiscal year—before March 31, 2024—there may be a need to record a contingent liability for that court case when a payment is likely. The assessment of likelihood is complex. It may include such items as filing a new claim; certification of a class action claim by the court; the completion of a legal risk assessment by Justice Canada; new information regarding class size or other factors that influence the potential value of a claim; and a decision by the government to enter into negotiations to settle out of court.
On December 18th, 2024. See this statement in context.