Banking, Bankruptcy & Insolvency
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April 29, 2025
Manitoba regulation for prompt construction payments now in effect
Manitoba’s Public Service Delivery Minister Mintu Sandhu has announced that the province’s prompt payment regulation facilitating “timely flow of construction payments” came into effect earlier this month.
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April 29, 2025
Alberta ‘finfluencer’ found in breach of securities laws for social media posts
The Alberta Securities Commission (ASC) has found that “finfluencer” James Floreani and his company Jayconomics Inc. breached of the Alberta Securities Act by engaging in investor relations activities and failing to disclose that social media posts he shared were made on behalf of four Alberta issuers.
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April 28, 2025
Court rejects minority shareholder’s veto claim after bedroom breakdown leads to boardroom battle
The Alberta Court of King’s Bench has rejected the validity of an alleged agreement that purported to give a minority shareholder veto power over her removal from the board, finding that the signature of the majority shareholder on the document was not authentic.
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April 25, 2025
SCC rules CRTC has no jurisdiction to decide 5G access disputes between telecoms and municipalities
In a decision that addresses the role of so-called “dynamic” statutory interpretation in cases where technology has evolved or other circumstances have changed significantly since a law was enacted, the Supreme Court of Canada has affirmed 7-2 that the CRTC does not have jurisdiction to adjudicate disputes between telecom carriers and public authorities that have refused to allow the telcos to deploy 5G small cell antennas on public property.
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April 25, 2025
Ontario court orders KPMG to accept $2.9-million intercompany debt claim in bankruptcy dispute
In a dispute between bankruptcy trustees involving a now-defunct Toronto-area grocery chain and its insolvent parent company, the Ontario Superior Court has ordered KPMG to accept a $2.9-million intercompany debt claim that it originally disallowed, ruling that it committed a “palpable and overriding error.”
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April 24, 2025
Quebec court approves Phoenix system class action settlement for non-union federal employees
The Quebec Superior Court has approved a settlement for a class action over compensation errors that non-unionized and casual federal public servants faced as a result of the Phoenix pay system, which was launched in 2016.
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April 23, 2025
Securities regulators pause work on new mandatory climate and diversity disclosures
Canadian securities regulators have paused work on the development of a new mandatory climate-related disclosure rule and amendments to the existing diversity-related disclosure requirements in the face of rising economic uncertainty, according to a release by the Canadian Securities Administrators.
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April 23, 2025
Ontario Court of Appeal upholds dismissal of proposed class action against crypto giant Coinbase
In a case that points to potential jurisdictional legal challenges for virtual currency investors, the Ontario Court of Appeal has dismissed an appeal related to a proposed class action against Delaware-based crypto trading giant Coinbase Global Inc. and some of its affiliates.
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April 23, 2025
Alberta court rules gross overriding royalty in farmout agreement is interest in land
The Alberta Court of King’s Bench has held that a gross overriding royalty (GORR) granted in an oil and gas farmout agreement constituted an interest in land, emphasizing that the economic structure of the transaction demonstrated the parties’ intent for the royalty to run with the lease.
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April 22, 2025
OSC report: Over a third of retail investors have acted on ‘finfluencer’ investment advice
Financial influencers on social media are shaping the investment decisions of retail investors, with a recent Ontario Securities Commission survey finding that 35 per cent of retail investors have acted on advice from a “finfluencer.”