The recent decision of the Ontario Court of Appeal in msi Spergel Inc. v. I.F. Propco Holdings (Ontario) 36 Ltd., 2013 ONCA 550 (“msi Spergel”) confirms that the Court will not suspend, extend or otherwise vary the general two-year limitation period under the Limitations Act, 2002 (the “Limitations Act”) unless there is express statutory authority to do so.
English courts may, when making ex parte (without notice) orders in a court-appointed receivership, include a final order that the defendant pays the costs incurred in obtaining the order notwithstanding that it was not notified of the application for the order.
The UK’s Prudential Regulation Authority (PRA) has been developing its Early Warning Indicators (EWIs) for Solvency II internal model firms for more than a year. From September 2013, it will expect these firms to:
During the spring of 2012, the Canadian Appeals Monitor posted a five-part series on the Supreme Court’s judgments in Van Breda, Black, and
Following a recent ruling of the Ontario Court of Appeal, parties may need to proceed cautiously in enforcing contractual rights and remedies in circumstances where there is a risk of the counterparty subsequently becoming insolvent.
The common law has long recognized that a contractual provision which is explicitly and directly triggered by a party’s insolvency (and which thereby causes subsequent prejudice to the rights of the insolvent party’s creditors) may be unenforceable as a matter of public policy.
Introduction
The Supreme Court has issued its much-anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers.
The Supreme Court issued one judgment this week in a case of interest to Canadian businesses and professions.
R. v. Dunn, Beatty and Gollogly 2013 ONSC 137
Introduction
The New Year seems to be starting with a bang for the ILS industry. On January 23rd, KKR announced it had taken a 24.9% stake in Nephila. Earlier in the month Validus reported a $400 million capital raise to fund investments in collateralized reinsurance and ILS. In a transaction on which Edwards Wildman Palmer LLP advised Transatlantic Re, Transatlantic Re in December acquired a minority interest in Pillar Capital Management and announced a strategic partnership with Pillar, a manager of funds investing in collateralized reinsurance and ILS.
In Ollerenshaw and Reeh v the Financial Services Authority (the FSA), former directors of the Black and White Group Limited (in liquidation) (B&W), challenged decisions of the FSA in a reference to the Upper Tribunal.