In Toronto-Dominion Bank v Canada,1 the Federal Court of Appeal (FCA) upheld the Federal Court’s decision2 that the Toronto-Dominion Bank (TD) was required to pay to the Canada Revenue Agency (CRA) proceeds of $67,854 for unremitted GST that TD received as repayment from a borrower upon the discharge of a TD mortgage.
Canada, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Due diligence, Federal Court of Appeal (Canada)
Hopefully you have received previous updates from us in relation to the Channel Islands Stock Exchange (CISX) and the proposed restructuring of the CISX.
Guernsey scheme of arrangement
I am pleased to confirm that we now have confirmation that the restructure of the CISX by way of a scheme of arrangement was approved by the Royal Court in Guernsey last Friday.
Guernsey, Jersey, Capital Markets, Insolvency & Restructuring, Private Client & Offshore Services, Ogier, Security (finance), Stock exchange, Guernsey Financial Services Commission