Banking, Bankruptcy & Insolvency
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August 07, 2025
Ontario court awards $291K to estate in promissory notes case, rejects corporate veil claim
In a decision offering guidance on multiple legal issues, an Ontario Superior Court judge has awarded summary judgment of nearly $291,000 to the estate of a deceased lender in a case involving two unpaid promissory notes, while rejecting attempts to hold a corporate executive personally liable for the debts.
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August 06, 2025
FINTRAC publishes new supervisory framework, tightens administrative penalty policy
Canada’s anti-money laundering watchdog has published its comprehensive supervisory framework and unveiled a more streamlined administrative monetary penalties policy.
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August 05, 2025
Carney announces $1.25B program to boost softwood lumber industry
Prime Minister Mark Carney has announced plans to spend more than $1 billion to boost the competitiveness of Canada's softwood lumber industry. The federal government will channel separate amounts of $700 million, $500 million and $50 million to respective areas of the sector to help it better withstand ongoing and increasing U.S. duties.
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August 05, 2025
B.C. Court of Appeal dismisses appeals challenging provincial mink farming ban
The British Columbia Court of Appeal has dismissed appeals in a case related to a provincial regulation banning mink farming, finding the order in council was not ultra vires even if it was influenced by interest groups.
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August 01, 2025
Canada faces 35% U.S. tariffs as trade tensions escalate, putting focus on CUSMA compliance
Canadian political and business leaders are charting divergent strategies to navigate the new reality of 35 per cent U.S. tariffs on goods not compliant with the Canada-United States-Mexico Agreement (CUSMA), with responses ranging from calls for economic sovereignty to urgent pleas for small business relief.
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July 31, 2025
Small and medium banks failed to meet federal complaint handling standards, FCAC review finds
Canada’s consumer banking watchdog has found significant compliance failures among small and medium-sized banks in meeting federally mandated complaint handling requirements introduced under its Financial Consumer Protection Framework.
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July 25, 2025
Defendants’ production of records saves $108M claim from dismissal for long delay
The Alberta Court of King’s Bench has ruled that the production of documents previously listed in an affidavit of records can significantly advance litigation, overturning the dismissal of a $108-million claim for long delay.
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July 24, 2025
Securities regulator takes steps to ease access to Bank of Canada fund for some investment funds
In a bid to promote market stability, the Canadian Securities Administrators (CSA) has announced coordinated blanket orders to help make the Bank of Canada’s Contingent Term Repo Facility (CTRF) fund more accessible to eligible investment funds.
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July 23, 2025
G20 finance ministers discuss international tax reforms and debt relief framework in South Africa
Finance ministers and central bank governors from the world’s 20 largest economies (G20) have concluded their third meeting of the year in Durban, South Africa, by endorsing several initiatives with potential legal and regulatory implications for international finance and taxation.
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July 22, 2025
Ottawa mulls $150K deposit insurance limit, new $500K limits for non-retail accounts
The Department of Finance Canada is considering proposals to raise the federal deposit insurance coverage limit to $150,000 per account category and to introduce a new $500,000 limit for non-retail accounts in a bid to enhance depositor protection, according to a release issued July 22.