June 02, 2025
In Royal Bank of Canada v. HI & DQ’s Foods Inc., 2025 ONSC 2774, the Ontario Superior Court of Justice addressed several issues relating to personal guarantees in commercial lending. The decision confirms that summary judgment can be appropriate in a claim against a guarantor and clarifies the limited scope of fiduciary duties owed by financial institutions, the responsibilities of corporate directors acting as guarantors, and the narrow availability of the defence of non est factum.
May 30, 2025
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
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
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
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
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
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
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
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
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).