Banking, Bankruptcy & Insolvency
-
May 30, 2025
OSC initiative aims to spur creation of new long-term investment products
The Ontario Securities Commission (OSC) has announced the start of its OSC LaunchPad Long-Term Asset Fund Project, aimed at bringing new investment-fund products to market that are geared to long-term assets.
-
May 30, 2025
SCC rules Quebec licensing law does not apply to firms providing airport, maritime private security
In a judgment that turns on the application of the constitutional doctrine of interjurisdictional immunity, the Supreme Court of Canada has ruled 9-0 that Quebec’s Private Security Act (PSA) does not apply to two companies that engage in airport and marine port security in the province because the Quebec law impairs activities at the core of exclusive federal jurisdiction over aeronautics, navigation and shipping.
-
May 30, 2025
Court blocks arbitration citing claimant’s participation in receivership proceedings
The Alberta Court of King’s Bench has stayed arbitration proceedings brought by a minority shareholder challenging a corporate lease renewal, holding that the shareholder’s prior participation in the majority shareholder’s receivership proceedings precluded reliance on an arbitration agreement.
-
May 29, 2025
Carney says CIT ruling that certain Trump tariffs on Canada are illegal accords with Ottawa’s view
Prime Minister Mark Carney welcomed yesterday’s now-paused U.S. Court of International Trade (CIT) ruling that set aside the Trump administration’s recent imposition of certain hefty tariffs on goods from Canada and other countries.
-
May 29, 2025
B.C. court: ITA no bar to refund of tax overpayments per court-ordered priorities
The British Columbia Court of Appeal has held that tax overpayments from a foreclosure sale remain subject to the priorities in the sale order, rejecting the CRA’s argument that such funds can only be refunded to the taxpayer.
-
May 27, 2025
Throne speech states Carney government’s ‘core mission is to build the strongest economy in the G7’
Delivering Canada’s speech from the throne for the first time, King Charles III outlined the Carney Liberal government’s plans to make Canada’s economy the most robust in the G7, including by driving the country’s emergence as an energy superpower and by removing internal trade barriers and other roadblocks to creating big national projects and large-scale affordable housing.
-
May 23, 2025
CSA announces proxy delivery relief if postal service suspended
The Canadian Securities Administrators (CSA) has announced that regulators will offer temporary relief from current requirements to deliver proxy-related materials for shareholder meetings if a Canada Post strike completely suspends postal service.
-
May 23, 2025
G7 finance ministers, central bank governors release communiqué emphasizing ‘unity’
On May 22, G7 finance ministers and central bank governors reached an “agreement on a communiqué which emphasized, above all, the importance of G7 unity in the face of complex global challenges.”
-
May 22, 2025
Alberta Court maintains financing statement registration for contingent claims citing ‘broad’ GSA
The Alberta Court of King’s Bench has held that contingent claims arising from ongoing litigation were sufficient to allow a creditor’s financing statement registration to be maintained under the Personal Property Security Act (PPSA), citing a broadly worded general security agreement (GSA).
-
May 20, 2025
Ontario court awards $350,000 in damages for insurance brokerage contract breach
In what the judge involved has described as a glimpse into the back room of the insurance brokerage business, the Ontario Superior Court of Justice has awarded a Toronto brokerage $350,000 for an ex-salesman’s breach of contract and a competitor’s role in causing it.