Banking, Bankruptcy & Insolvency
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January 10, 2024
Supreme Court of Canada judge fell and injured his ribs, but top court says he remains on the job
Supreme Court of Canada Justice Nicholas Kasirer has had a fall that injured his ribs and kept him from participating in a Toronto legal conference where he was scheduled to speak, but the top court told Law360 Canada the Quebec jurist is continuing to “fulfil his duties at the court and there has been no impact on his work.”
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January 10, 2024
Manitoba regulator outlaws video ID of clients involved in financial dealings
As part of ongoing efforts to protect its members from being used in money laundering schemes, the Law Society of Manitoba has made it so lawyers can no longer use video conferencing to verify the ID of clients involved in financial transactions.
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December 22, 2023
Feds approve RBC acquisition of HSBC, say strict terms will protect workers
Deputy Prime Minister and Minister of Finance Chrystia Freeland has approved the sale of HSBC Bank Canada (HSBC) to Royal Bank of Canada (RBC), pursuant to authorities under the Bank Act. The Department of Finance said that the sale is subject to strict terms and conditions imposed on RBC.
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December 18, 2023
Court refuses leave to appeal appointment of receiver, finding debtors’ grounds of appeal weak
The Ontario Court of Appeal has denied three corporate debtors leave to appeal a decision appointing a receiver over their assets, finding that their grounds of appeal lacked merit and that they had not raised any issue of general importance.
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December 08, 2023
Canada imposes new sanctions on Russian, Iranian, Myanmar regimes for human rights violations
Canada has imposed sanctions against seven foreign nationals for their gross violations of internationally-recognized human rights.
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December 08, 2023
Law firms urge law deans to show ‘zero tolerance’ for antisemitism, hatred, bigotry on campus
Two months after Hamas’ murderous Oct. 7 attack in Israel, more than 80 Canadian law firms have signed an open letter asking law deans here to show “zero tolerance for any form of racism, discrimination, or harassment” on their university campuses, where some students and professors have expressed support for Hamas and some Jewish students have experienced harassment, intimidation and violence.
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December 07, 2023
Canada imposes import restrictions on Russian non-industrial diamonds, jewelry, related products
Canada imposed an importation ban Dec. 5 on non-industrial diamonds and diamond-jewelry-related products that are mined, processed or produced in Russia — the latest sanction targeting Russia for its illegal war of aggression against Ukraine.
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December 05, 2023
Inquiry into foreign interference with federal elections gives standing to 22 groups, individuals
Justice Marie-Josée Hogue, the Quebec Court of Appeal judge who heads the commission of inquiry into foreign interference in federal electoral processes and democratic institutions, has green-lit 22 groups and individuals to participate as parties or interveners in the public inquiry, disclosing she also expects to issue a decision soon on requests for funding for lawyers applied for by some of those who were granted standing.
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December 05, 2023
More male than female applicants for federal benches rated ‘highly recommended’ by JACs in 2022-2023
The Liberal government appointed a few more women than men to the federal benches in the past year, although men were rated “highly recommended” by the country’s 17 independent judicial advisory committees (JACs) a bit more often, according to annual data disclosed by the Office of the Commissioner for Federal Judicial Affairs Canada.
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December 05, 2023
How litigation financing helps companies, promotes access to justice for businesses
The emerging field of litigation finance is fairly new to Canada, helping to litigate commercial cases at both the domestic and international levels. This practice exists to help companies mitigate risk, see their case through and get a second opinion, as many who work in the field are former Supreme Court clerks.