At the COP26 climate summit in November 2021, over forty countries committed to phase out use of coal-fired power.
Mergers & acquisitions (M&A)
Canada is an ideal location in which to establish and grow a business. One of the most common ways for foreign companies to expand to the Canadian market is through a merger with or acquisition of an existing Canadian business. There are a number of advantages to choosing Canada:
Public consultations on enhancing retirement security led by the Ministry of Innovation, Science and Economic Development Canada closed in late 2018. Given the importance and complexity of the subject matter, the one-month consultation period offered by the government was curiously short. Given that 2019 is an election year, the quick completion of the process could suggest that the federal government anticipated the direction in which it would proceed with any legislation.
APPLICATIONS FOR LEAVE TO APPEAL DISMISSED
37656
Norris Barens v. Her Majesty the Queen (B.C.)
Canadian Charter of Rights and Freedoms – Constitutional law – Mobility rights
The applicant was convicted of driving without a licence contrary to s. 24(1) of the Motor Vehicle Act, R.S.B.C. 1996, c. 318.
36778 Ad Hoc Group of Bondholders v. Ernst & Young Inc. in its capacity as Monitor et al.
(ON)
Commercial law – Bankruptcy and insolvency – Interest
36114 Miazga v. The Queen (Criminal law – Manslaughter)
In a recent edition of Fully Secured (September 29, 2011 – Volume 2, No. 3), the decision of the Ontario Court of Appeal in Re Indalex Limited was discussed, in which the Ontario Court of Appeal held that a statutory deemed trust claim arising out of a pension plan wind-up deficiency ranked in priority to debtor in possession (“DIP”) financing.
There have been several recent developments with respect to this decision since the date of that publication.
In the case of 1842752 Ontario Inc. v. Fortress Wismer 3-2011 Ltd.[1](the "Fortress Case"), the Ontario Court of Appeal held that a judgment creditor is not entitled to enforce a writ of seizure and sale against a registered owner that beneficially holds land in trust for a judgment debtor, nor to priority over arm's length construction financing.
In Callidus Capital Corporation v. Her Majesty the Queen,[1] the Supreme Court of Canada overturned a troubling 2017 decision of the Federal Court of Appeal. The Supreme Court held unanimously that the bankruptcy of a debtor extinguishes the deemed trust for unremitted GST and HST created in favour of the Crown (“CRA”) by section 222 of the Excise Tax Act (“ETA”).
In a recent decision[1], the British Columbia Supreme Court (the “Court”) determined that purported secured loans made by a shareholder were properly characterized as equity contributions to the subject company and therefore subordinate to the claims of the company’s creditors.