On February 18 last, the Supreme Court of Canada1 denied leave to appeal in the matter of Intact Compagnie d’assurance c. 9221-2133 Québec inc.2, thus confirming the principles applicable to the duty of the insured to collaborate ...
A recent decision of the Tax Court of Canada in the case of Line Durocher c ...
On November 25, 2015, the Investment Industry Regulatory Organization of Canada (IIROC) published a White Paper for consultation. It is seeking comment on two proposals which, if approved and implemented, would change the current structure for distributing mutual funds in Canada. A “restricted practice” policy and a policy involving directed commissions are being proposed ...
Lavery is closely monitoring developments in consumer class actions and, in order to keep the business sector informed on the subject, publishes regular newsletters on recent case law and legislative changes that are likely to affect, if not transform, business practices. INTRODUCTION In Fortin v. Mazda Canada Inc ...
The United States and the European Union recently concluded a new agreement aimed at allowing U.S. companies to continue to collect, use and disclose personal information concerning European citizens, while still preserving their fundamental rights ...
On November 24, 2015, the Québec Court of Appeal rendered a much anticipated judgment in the case of Université McGill v. McGill University Non Academic Certified Association (MUNACA)1 (“McGill”) ...
Lavery closely monitors new developments in consumer law and is committed to keeping the business community informed of the latest developments in this area of the law by regularly publishing newsletters dealing with new case law or legislative changes which may impact, influence, or even transform practices in the retail sector ...
Over the past year, the Tribunal administratif du Québec (TAQ) has issued several rulings dealing with oversight of the medical practice of professionals working in health and social services institutions. Several of these rulings will be of interest to institutions since they set out principles that tend to confirm the existence of a form of management rights over physicians, despite the lack of the traditional relationship of subordination between such institutions and their physicians ...
The purpose of this newsletter is to raise the awareness of employers regarding the problems related to making knowledge of English a requirement for employment ...
On January 11, 2016, Vadim Kazenelson, a project manager for Metron Construction Corporation (“Metron”), was sentenced to three and a half years in prison.1 This sentence follows the decision rendered on June 26, 2015 in which the Superior Court of Ontario found Mr. Kazenelson guilty of the five charges against him, including four counts of criminal negligence causing death and one count of criminal negligence causing bodily harm ...
The TSX Venture Exchange reaches out to the VC communityThe TSX Venture Exchange (the “TSX-V”) has released a white paper which describes how it intends to become an attractive public market for early-stage companies from fast-growing sectors such as technology, clean technology, renewable energy and life sciences (the “high-growth sectors”) and how it intends to ensure that private equity firms, venture capital (“VC”) funds and angel investors consider the TSX-V as an effective stra
The election of a majority Liberal government last October 19 signaled that there would be numerous changes to Canadian tax policy, particularly for individuals. One of these changes which has made waves in the business community is the reform of the tax regime applicable to stock options. Under section 7 of the Income Tax Act (Canada) in its current form, the benefit realized by an employee on exercising stock options is treated as employment income ...
In February 2015, the report on the public enquiry of the fire commissioner concerning the fire that occurred on January 23, 2014, at the Résidence du Havre at L’Isle-Verte, which resulted in the death of thirty-two residents, was tabled1 ...
On November 14, 2015, the Supreme Court of Canada rendered three decisions on the application of the the Bankruptcy and Insolvency Act, RSC 1985, c. B-3 (BIA) and its interaction with certain provincial statutes.OVERVIEW OF THE FACTSIn Saskatchewan (Attorney General) v. Lemare Lake Logging Ltd. Ltd ...
Last October 30, the provincial government announced the creation of 'Passeport Entreprises', an action plan focused on two main points: to facilitate access by businesses to government contracts and make the Quebec government's tendering processes more transparent and rigorous ...
Equity crowdfunding will soon have a new framework in which to operate in Canada and this is excellent news for investors and startups alike ...
Last April 27, the Court of Appeal of Quebec dismissed the appeal, from the bench, by the Attorney General of Quebec concerning the use of English trademarks on public signs ...
The Canada Public Sector Pension Investment Board launches a lawsuit against Saba Capital: Lessons for fund managers when valuing illiquid securitiesOn September 25, 2015 the Public Sector Pension Investment Board (the “PSP Investment Board”) filed a lawsuit before the New York State Supreme Court against Saba Capital, the hedge fund managed by Boaz Weinstein (the former co-chief of the credit business at Deutsche Bank AG), for allegedly “manipulating the value” of certain of Saba Capital’s inve
The court of appeal of Quebec recently ruled on a leave to appeal from an interlocutory judgment dismissing a wellington type motion seeking to order an insurer to take up the defence of its insured.The decision of the Court inTechnologies CII inc.v.Société d’assurances générales Northbridge1follows the one issued on April 21, 2015 by the Honourable Michel A ...
Quebec mining, oil and gas companies are heceforth subject to the imposing disclosure regime under theact respecting transparency measures in the mining, oil and gas industries(the "act"), which came into force last October 21. This statute echoes theExtractive Sector Transparency Measures Act(Canada),1which took effect on June 1, 2015, and follows a global trend to increase the transparency of mining, oil and gas exploration and development ...
CANADIAN INVESTMENTS IN CUBATheHelms-Burton Actand its risks for Canadian investors in CubaRecommandations for investorsProspects in the face of the thaw in U.S ...
Corporations that are in need of liquidities can, simply put, not afford to wait until the end of the fiscal year to receive payment of refundable tax credits. For this reason, some lenders offer to advance funds to eligible taxpaying corporations (hereinafter “Taxpayers”) in the form of a loan, while taking security on their future tax credits as collateral (“Advance Tax Credit Financing”) ...
NEW REQUIREMENTS FOR PRIVATE PLACEMENTS(“Regulation 45-106”)OBLIGATION TO KNOW YOUR INVESTOR WELLIssuer’s obligations:Ask questionsVerify the investor’s declared income and assetsConfirm the relationship between the investor and the issuerObtain proof of the investor’s statusKeep the documents on file
WWII deeply modified the Canadian economy1. The concentration of resources toward the war effort brought about, among other things, a shortage of rental premises2. Hence, the law governing leases was adapted3. and the existing liberal vision of free negotiation of contracts and consent made way for a stricter one ...
NEW REQUIREMENTS FOR PRIVATE PLACEMENTS(“Regulation 45-106”) OBLIGATION TO KNOW YOUR INVESTOR WELL Issuer’s obligations: Ask questions Verify the investor’s declared income and assets Confirm the relationship between the investor and the issuer Obtain proof of the investor’s status Keep the documents on file Last May, the Canadian Securities Administrators amended Regulation 45-106 respecting Prospectus Exemptions(“Regulation 45-106”)as we
