Banking, Bankruptcy & Insolvency
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June 03, 2024
SCC’s Wagner urges vigilance, strong defence against false information, justice system attacks
Canada’s top judge says elected officials should not attack the justice system or the judiciary, based on false information that could shake public confidence.
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May 31, 2024
SCC gives guidance on interpreting exclusion clauses, applying standards of appellate review
The Supreme Court of Canada has clarified what is required for an exclusion clause in a contract of sale to exempt the seller from an implied condition under Ontario’s Sale of Goods Act (SGA) and has also clarified what standards of appellate review apply when trial courts interpret contracts involving implied statutory conditions.
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May 23, 2024
Securities administrators release amendments for mutual funds moving to T+1 settlement cycle
Canadian Securities Administrators (CSA) have published final amendments clarifying settlement guidelines for mutual funds that are voluntarily shortening their trade settlement cycles from two trading days to one (T+1), according to a release.
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May 22, 2024
New sanctions aimed at Russia–N. Korea arms trade for weapons used in illegal war on Ukraine
Two Russians and six Russian entities are targeted by the latest sanctions Canada has imposed in response to the Putin regime’s illegal war of aggression against Ukraine.
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May 16, 2024
Canada sanctions ‘extremist Israeli settlers’ for violence against Palestinians in the West Bank
Ottawa has for the first time sanctioned “extremist Israeli settlers” with dealings and entry bans for “the grave breach of international peace and security posed by their violent and destabilizing actions against Palestinian civilians and their property in the West Bank.”
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May 16, 2024
3 new office managing partners at Bennett Jones
Bennett Jones announced new office managing partners, Preet Gill, Kwang Lim and Pascale Dionne-Bourassa, to its Toronto, Vancouver and Montreal offices, respectively.
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May 16, 2024
B.C. court rules lessor cannot sue lessee after seizing collateral motorcycle
The B.C. Court of Appeal has ruled that a lessor who seized a lessee’s motorcycle for default could not sue the lessee over unpaid lease payments, rejecting claims that a security agreement estopped the lessee from submitting that the motorcycle was a consumer good.
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May 15, 2024
FINTRAC: Cryptocurrency ATMs increasingly used for money laundering
Virtual currency automated teller machines (ATMs) are increasingly being used for money laundering, with the Greater Toronto Area, Greater Montreal and Metro Vancouver emerging as hotspots for suspicious transactions, according to Canada’s financial intelligence unit.
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May 14, 2024
Financial Consumer Agency of Canada releases business plan for 2024-25
The Financial Consumer Agency of Canada (FCAC) has released its business plan for 2024-2025, building on a number of strategic goals and paving the way for the federal government's vision for an open banking system.
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May 10, 2024
Supreme Court of Canada clarifies how to assess compensation for constructive expropriation
The Supreme Court of Canada has explained how to assess compensation payable for constructive expropriation of private land by public authorities in a unanimous decision that reverses a ruling below that pegged what the City of St. John’s owes to a property owner to the land’s prospective market value if it were permitted to be developed for residential use, rather than to its much lower market value as land which is currently zoned “watershed,” with only limited discretionary agriculture, forestry and public utility uses.