Banking, Bankruptcy & Insolvency
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October 23, 2023
Court denies creditor leave to appeal decision subordinating security interest for remediation work
The Alberta Court of Appeal has denied a creditor leave to appeal a decision subordinating its security interest in certain equipment of insolvent gravel pit operator in order to allow it to complete environmental remediation work.
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October 23, 2023
B.C. court overturns decision on default orders after notice of claim filed via Xpresspost
The B.C. Supreme Court has set aside two decisions upholding default orders, finding that a provincial court judge failed to adequately consider whether the appellants were properly served.
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October 19, 2023
Canada renews sanctions against Iranian officials, entities for nuclear proliferation activities
The federal government has renewed dealings bans and entry prohibitions against 18 Iranian individuals, including current and former senior officials of the Islamic Revolutionary Guard Corps (IRGC) and its affiliates, as well as 56 entities that Ottawa says are engaged in activities that “facilitate, support, provide funding for, contribute to, or could contribute to Iran’s proliferation-sensitive nuclear activities.”
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October 18, 2023
Strategic co-ordinated litigation, clear public messaging can help combat antisemitism, lawyers say
Galvanized by growing bigotry, hate and violence directed at Jews here and abroad, the Centre for Israel and Jewish Affairs (CIJA) is ramping up its legal fight against antisemitism, including honing its public messaging and inviting lawyers to volunteer with a CIJA legal task force that works to conceptualize, co-ordinate and carry out strategic litigation in defence of Jewish people.
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October 18, 2023
Banking, investments ombud designated as sole external complaints body for financial institutions
The Ombudsman for Banking Services and Investments (OBSI) has been designated as the sole external complaints body for banking, according to a release by the Financial Consumer Agency of Canada (FCAC).
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October 17, 2023
Canada sanctions Moldovan ‘collaborators’ with Russia, ‘disinformation’ TV stations in Moldova
Canada has imposed sanctions against nine Moldovans described as “Russian collaborators” by Global Affairs Canada.
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October 13, 2023
Ontario Superior Court awards lender $120,920 over breach of loan agreement by borrower
The Ontario Superior Court has granted a summary judgment of $120,920 plus interest in favour of a lender, finding a borrower liable for breach of contract.
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October 13, 2023
OSFI: Rising interest rates, weakening commercial real estate markets increasing risk for lenders
Canada’s banking regulator has warned that higher interest rates and a weakening commercial real estate (CRE) market may lead to financial institutions facing increased borrower defaults and credit losses, in a semi-annual update to the sector’s risk outlook released Oct. 12.
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September 29, 2023
Law schools disclose common concerns, diverse takes on regulating GenAI use by students, faculty
Law schools have stepped up efforts in the 2023/2024 academic year to help the next generation of lawyers understand and capitalize on ChatGPT’s emergence, while also teaching law students to critically evaluate – and competently and ethically use – generative artificial intelligence (GenAI) in the classroom and in their future law career.
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September 28, 2023
French-language law faculties grappling with new breed of generative AI tools
Nearly a year after the emergence of a new breed of generative artificial intelligence (AI) tools were thrust into public consciousness, with the program ChatGPT leading the charge, French-language law faculties in Quebec, Ontario and New Brunswick are still grappling over their far-reaching potential impacts on teaching and learning in higher education.