Air Canada Ordered to Pay $19K After $20M Pearson Gold Heist – Largest Gold Theft in Canada
Air Canada has been ordered to pay $18,600 CAD following the theft of $20 million worth of gold bars from a storage facility at Toronto Pearson Airport. The Federal Court of Canada issued the ruling after Brink’s, a global security company, sued the airline for failing to secure the shipment properly.
Background on the Heist
On April 17, 2023, thieves used forged documents to collect a shipment of 6,600 gold bars valued at $20 million. The shipment, transported from Zurich, Switzerland, was held at an Air Canada facility. The incident is considered the largest gold heist in Canadian history and the sixth-largest globally.
Nine suspects, including Air Canada employees, now face charges related to the theft.
Legal Dispute Between Brink’s and Air Canada
Brink’s filed a lawsuit in June 2024, claiming Air Canada failed to ensure proper security for the shipment. The company also stated it had made a “special declaration of interest” when booking the cargo through Air Canada’s AC Secure service. This service is designed for transporting valuable goods.
In its filing, Brink’s argued it was entitled to compensation of nearly $15 million USD. The company emphasized that it had declared the shipment’s high value during the booking process.
However, Air Canada countered that Brink’s did not include the monetary value of the shipment on the waybill under the required “Declared Value for Carriage” section.
Court Ruling
On January 20, 2025, the Federal Court ruled that Brink’s failed to demonstrate that it had properly declared the monetary value or paid a supplementary fee for enhanced security. Justice Cecily Strickland cited international treaties in her decision, stating that Air Canada was only liable for general compensation based on weight.
The court ordered the company to pay 9,988 Special Drawing Rights (SDRs), a currency created by the International Monetary Fund. This amount translates to $18,600 CAD.
Implications of the Case
The court’s ruling highlights the importance of following documentation procedures when transporting high-value goods. Brink’s failure to comply with certain administrative requirements significantly reduced its compensation.
The case also underscores vulnerabilities in cargo security at major airports, prompting calls for enhanced safeguards to prevent similar incidents.
The Heist’s Broader Impact
The Pearson gold heist exposed significant gaps in supply chain security. It highlights procedural flaws that people can exploit, even at secure facilities. Authorities continue to investigate the case, with ongoing legal proceedings against those accused.
This case serves as a cautionary tale for companies transporting high-value assets. Proper documentation, compliance with airline policies, and investment in additional security measures are critical to mitigating risks.
More…
- https://nationalpost.com/news/canada/toronto-pearson-airport-gold-heist-air-canada-brinks-lawsuit
- https://toronto.citynews.ca/2025/01/25/air-canada-ordered-to-pay-19k-in-lawsuit-over-2023-pearson-gold-heist
- https://www.cp24.com/video/2025/01/25/air-canada-ordered-to-pay-brinks-more-than-18k-after-gold-heist-at-toronto-pearson
