When a lender makes an interest bearing loan to a borrower for a fixed term, the contract may provide that the borrower cannot repay the principal sum before maturity. This is often referred to as a “no call” provision. The intent of this provision is to protect the lender’s expected return on its investment during the term of the contract. Otherwise, the lender could be faced with the loss of interest payments that the borrower would have otherwise paid to the lender.
Hello:
There were only three short procedural decisions we summarized this week.
Have a good one.
John Polyzogopoulos Blaney McMurtry LLP [email protected] Tel: 416 593 2953 http://www.blaney.com/lawyers/john-polyzogopoulos
Table of Contents:
Civil Decisions:
Below are the summaries for this week’s civil decisions of the Court of Appeal.
Topics covered this week included a number of civil procedure issues (civil contempt, appeal routes, administrative dismissals for delay), of couple of real property/municipal law cases (dedication of roads, relief from forfeiture) and an unjust enrichment case in the context of a family dispute.
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Have a nice weekend.
On November 16, 2016, the Ontario Ministry of Government and Consumer Services (“MGCS”) posted the Fall 2016 report (the “Report”)[1] of the Business Law Advisory Council (the ”Council”), which was formed by the MGCS in March 2016 to put forward recommendations for modernizing Ontario’s corporate and commercial statutes.
Hello,
If you are served with a demand letter from your lender, you don’t have to fold up your tent and give in. If, like most companies, you feel that if you had more time, you could improve the situation (to the benefit of the Bank and the company), there are options. Here are 5 things that you can consider which will make it more likely that the Bank will either agree, or be forced to agree, to give you some more time to come up with a better solution.
Good afternoon,
Here are this week’s Court of Appeal Summaries. Civil topics covered included MVA, SABs, family law, vexatious litigants, employment law, simplified procedure and another chapter in the Indian Residential Schools settlement.The RJM56 Investments Inc v Kurnik decision highlights the importance of litigators not treating the tax implications of a settlement as an afterthought and of obtaining tax advice before completing a settlement.
Have a great weekend!
John Polyzogopoulos
Blaney McMurtry LLP
The tension between a trustee seeking to facilitate a proposal for the benefit of all creditors and a single creditor being forced to release its rights for the “greater good” was front and center in a recent case before the Supreme Court of British Columbia.