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by Mike Caswell

Northern Financial Corp. is once again facing a lawsuit in the Supreme Court of British Columbia from Lois Sookochoff, an 82-year-old widow who reached an $800,000 settlement with the company in 2010 over mismanagement of her brokerage account. Ms. Sookochoff complains that Northern Financial has not made all the payments due under the settlement. The company had agreed to pay her $800,000 in instalments, but it stopped sending money on March 15, 2013, she claims.

The allegations come five years after Ms. Sookochoff sued Northern Financial's brokerage subsidiary, Northern Securities Inc., over losses in her account. She complained that the firm had failed to properly supervise her broker, who she said was using her account to maximize his commissions, among other things. She claimed that she had relied on his advice to manage the account after her husband died on June 1, 2004.

For its part, Northern Securities denied any wrongdoing. It said that Ms. Sookochoff "was at all times the boss of her own affairs." She had instructed her broker that her investments were to yield an annual rate of return of at least 10 per cent and generate additional income of at least $100,000 per year. She declined to follow repeated recommendations that she consider lower risk investments, Northern Securities said.

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