Banking, Bankruptcy & Insolvency
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June 05, 2025
Yukon enacts transparency laws for corporations
In a bid to lessen the potential for companies to be used in financial crimes, the Yukon is making corporations — including incorporated law firms — identify those who stand to profit from company shares.
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June 04, 2025
‘Strong borders’ bill would expand police & spy agency powers, federal tools to control migration
A wide-ranging federal omnibus bill — introduced by the minority Liberal government under the rubric of border security — would expand the powers of federal officials to restrict refugee claims and migration while also boosting the investigative and other powers of law enforcement and the Canadian Security Intelligence Service (CSIS) in the name of protecting national security and clamping down on money laundering, fentanyl trafficking and other organized crimes.
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June 03, 2025
Clark Wilson announces three new associates
Clark Wilson has announced the promotion of Pavneet Grewal, Scott Stewart-Lee and Simon Wu from articled students to associates.
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June 02, 2025
Prime Minister Carney taps Montreal lawyers for key roles in PMO
Prime Minister Mark Carney has hired prominent Montreal lawyer Marc-André Blanchard, the former chair and CEO of McCarthy Tétrault LLP, as his chief of staff, while ex-federal justice minister David Lametti, counsel with Montreal’s Fasken, is also taking on senior responsibilities in the new Prime Minister’s Office (PMO), according to media reports.
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June 02, 2025
ACTS OF BANKRUPTCY - Ceasing to meet liabilities - Fraudulent preferences, conveyances or transactions
Appeal by appellant against an order denying its application for an order enabling it to assert Higgerty Law’s lien rights and stop interest accrual for all creditors in the receivership.
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June 02, 2025
Guarantees and summary judgment: Court reviews important considerations
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.
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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.
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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.
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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.
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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.