On December 10, 2016, the Forfeited Corporate Property Act, 2015 ("FCPA") came into force in Ontario. The FCPA has the effect of amending the Ontario Business Corporations Act ("OBCA") and the Corporations Act. There are also similar amendments made to the Ontario Not-for-Profit Corporations Act ("ONPCA"), but they have not yet come into force. The legislation effects changes to forfeiture of corporate real estate and corporate record-keeping requirements.
Hello,
Hello,
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
37026 Steven Paul Boone v. Her Majesty the Queen
(Ont.)
Criminal law – Offences – Elements of offence
Hello,
The Ontario Court of Appeal (OCA) has closed the door on the application of equitable subordination in Companies’ Creditors Arrangement Act (CCAA) proceedings. In U.S. Steel Canada Inc.
La Cour d’appel de l’Ontario (la « CAO ») a fermé la porte à l’application du principe de la subordination reconnue en equity dans le contexte des procédures instituées en vertu de la Loi sur les arrangements avec les créanciers des compagnies (la « LACC »). Dans l’affaire U.S. Steel Canada Inc.
There were four substantive civil decision released this week. The first, Sturino v. Crown Capital Corporation is a priority dispute in the receivership context. The second, Iroquois Falls Power Corporation v. Ontario Electricity Financial Corporation involved a motion to stay a Superior Court order pending the determination of a leave application to appeal to the Supreme Court of Canada (the stay was denied). The third, Silva v.