A recent decision of Justice Watt of the Ontario Court of Appeal definitively answers the question of which appeal procedure must be followed in appeals of Orders made in proceedings constituted under both the Bankruptcy and Insolvency Act (the “BIA”) and the Courts of Justice Act (the “CJA”). Justice Watt’s decision in Business Development Bank of Canada v. Astoria Organic Matters Ltd.
- On November 8, 2018, the Supreme Court of Canada (“SCC”) reversed the Federal Court of Appeal decision in Callidus Capital Corporation v.
- Dans son arrêt du 8 novembre 2018, la Cour suprême du Canada a infirmé la décision de la Cour d’appel fédérale (Callidus Capital Corporation c.
- Draft regulations implementing Canada’s “bail-in” solvency support regime for banks came into effect on September 23, 2018.
- The bail-in regime essentially requires that banks maintain “embedded contingent capital” in the form of bonds that convert automatically to equity in the event that the issuing bank has ceased or is about to cease to be viable.
- Key to the regime is the concept of “total loss-absorbing capacity”, or TLAC, which is the amount of embedded contingent capital that a bank will now be required to maintain (on a consolidated basis).
- As discussed b
- Le règlement mettant en œuvre le régime de « recapitalisation interne (émission) » au soutien de la solvabilité des banques au Canada est entré en vigueur le 23 septembre 2018.
- Ce régime de recapitalisation interne exige essentiellement des banques qu’elles maintiennent des « fonds propres d’urgence intégrés » sous forme d’obligations pouvant être automatiquement converties en actions si jamais elles cessent d’être viables ou sont sur le point de ne plus l’être.
- La clé du régime est le concept de capacité totale d’absorption des pertes
Secured creditors can breathe a sigh of relief. We have received word that the Supreme Court of Canada has allowed the appeal from the bench in Canada v. Callidus Capital Corporation (“Callidus”).
- On January 12, 2018, the Federal Court of Appeal (“FCA”) delivered its judgment in North Shore Power Group Inc. v.
On March 1, 2018, Canada Deposit Insurance Corporation (CDIC) released its updated Guidance on the Exercise of Eligible Financial Contracts Close-out Rights in a Resolution Scenario.
Le 1er mars 2018, la Société d’assurance-dépôts du Canada (la « SADC ») a publié la mise à jour de son document d’orientation intitulé Droits de résiliation de contrats financiers admissibles en situation de règlement de faillite. Ce nouveau document d’orientation reflète les modifications apportées aux dispositions de la
Encrypted digital currencies (“cryptocurrencies”),1 particularly Bitcoin, have recently become the target of enormous international speculation and market scrutiny. Some expect cryptocurrency payments and other transactions tracked via distributed ledger technology (“DLT”, of which “blockchain” technology is one example) to be the future of commercial interaction. The theory is that cryptocurrencies could become “the holy grail of commerce – a payment system that would eliminate or minimize the roles of third party intermediaries.”2