The Alberta Government's Business Corporations Amendment Act, 2021 (formerly Bill 84), which we wrote on in our previous insight Additional Changes Coming to Alberta's Business Corporations Act, was proclaimed into force on...more
On March 22, 2022, Bill S-239, An Act to amend the Criminal Code (Criminal Interest Rate) went to second reading at the Senate. The Bill proposes changes to section 347(2) of the Criminal Code which would reduce the current...more
In Port Capital (EV) Inc. (Re), 2022 BCSC 370, the Supreme Court of British Columbia recently declined to grant a declaration that the interest rate and fees charged under a debtor-in-possession (DIP) loan did not violate...more
In 2021, the Government of Canada proposed regulations that would change the director election process for certain corporations established under the Canada Business Corporations Act (CBCA). For more information with respect...more
Multinational corporations, cross-border investments and many other Canadian public and private enterprises, will likely soon face a new and complex interest expense deduction limitation in Canada....more
Regulatory obligations often conflict with bankruptcy law. It has long been considered a necessary benefit that people get a fresh start through bankruptcy. The law provides for exceptions to this principle, on the basis of...more
On December 2, 2021, the Alberta Government's Bill 84: Business Corporations Amendment Act, 2021 (Bill 84) received Royal Assent. The amendments to the Business Corporations Act (Alberta) (ABCA) contemplated by Bill 84 (which...more
The CFA Institute has published the first Global ESG Disclosure Standards for Investment Products (the Standards) in relation to environmental, social and governance (ESG) issues in investment products, to allow stakeholders...more
The Canadian Securities Administrators (CSA) has published the seventh annual Review of Disclosure Regarding Women on Boards and in Executive Officer Positions. The participating jurisdictions from the previous...more
In March 2021, the Canadian Securities Administrators (CSA) published the sixth Staff Review of Disclosure Regarding Women on Boards and in Executive Officer Positions. Recently, participating securities regulatory...more
On May 11, 2021, Bill C-274, An Act to amend the Criminal Code (Criminal Code Interest Rate) received first reading in the House of Commons. The Bill proposes to amend the definitions of "criminal rate" and "interest" under...more
The federal government has introduced proposed regulations that would, among other things, change the director election process for certain corporations established under the Canada Business Corporations Act (CBCA). The...more
On April 7, 2021, the Government of Canada published Diversity of Boards of Directors and Senior Management of Federal Distributing Corporations. The report is the first report on the effect of the government's efforts to...more
4/27/2021
/ Board of Directors ,
Canada ,
CBCA ,
Corporate Counsel ,
Corporate Governance ,
Corporate Officers ,
Disclosure Requirements ,
Diversity ,
New Regulations ,
Senior Managers ,
Shareholders
In light of the COVID-19 pandemic, Canadian reporting issuers are reminded to ensure that they maintain compliance with various continuous disclosure obligations and updating any earnings guidance that they have previously...more
On March 18, 2020, the Canadian securities administrators (CSA) indicated that they will be providing blanket relief granting a 45-day extension for periodic filings normally required to be made on or before June 1, 2020, by...more
In 2010, the BC Government passed the Finance Statutes Amendment Act, 2010 but certain provisions did not immediately come into force relating to the Personal Property Security Act (British Columbia). On June 1, 2019, certain...more
On April 8, 2019, the Federal Government introduced Bill C-97, An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2019 and other measures, which includes proposed changes to the Canada...more
4/23/2019
/ Board of Directors ,
Canada ,
CBCA ,
Clawbacks ,
Corporate Governance ,
Corporate Officers ,
Disclosure Requirements ,
Diversity ,
New Regulations ,
Senior Managers ,
Shareholders
The Supreme Court of Canada ("SCC") today released its long-awaited decision in Orphan Well Association et al v Grant Thornton Limited et al, 2019 SCC 5. The SCC allowed the appeal and held that Alberta's regulatory regime...more
IFRS 16 Leases becomes effective for annual reporting periods beginning on, or after, January 1, 2019. Consequently, entities with a December 31 year end, who did not adopt the new standards early, will report financial...more
On May 25, 2018, the Federal Court of Canada released its decision in Her Majesty the Queen v The Toronto-Dominion Bank. The case revolved around whether the proceeds of the sale of a house by a debtor of Toronto-Dominion...more
In a recent decision, Rosas v Toca, 2018 BCCA 191 [Rosas], the British Columbia Court of Appeal turned sharply away from traditional contract law principles by holding that parties may modify a contract without providing...more
In June 2018, we wrote on the British Columbia Court of Appeal decision in Leatherman v 0969708 BC Ltd, 2018 BCCA 33, where the court considered sections 14 and 15 of the "new" Limitation Act, SBC 2012, c. 13 in the context...more
Recently, the British Columbia Court of Appeal held that the two-year limitation period to enforce mortgage security ran from the first date of a default entitling the mortgagee to realize a security, not from the date of a...more
Unless a long-term lease of an asset is registered in the Personal Property Registry (PPR), the leasing arrangement may fail to protect the priority of the lessor’s ownership interest. The Alberta Court of Appeal in Fast...more
A recent decision from the Alberta Court of Queen’s Bench and Court of Appeal in Elan Construction considered and clarified two aspects of tendering law....more
10/14/2016
/ Appeals ,
Bid Protests ,
Breach of Implied Contract ,
Canada ,
Competitive Bidding ,
Construction Industry ,
Damages ,
Evidence ,
Lost Profits ,
Pleadings ,
Subcontractors ,
Tender Offers