Banking, Bankruptcy & Insolvency
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February 13, 2025
CBA urges new funding as Federal Court’s massive budget shortfall threatens drastic service cuts
The Liberal government’s underfunding of the Federal Court could “drastically” reduce service to litigants, its chief justice warns, spurring the Canadian Bar Association (CBA) to call for urgent “off-cycle” federal funding to address the national trial court’s chronic multi-million-dollar budgetary shortfalls.
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February 13, 2025
NWT looking for input on new Builders’ Lien Act
The Northwest Territories is looking for input on regulations needed to bring into force its Builders’ Lien Act — new legislation setting out the legal rights and remedies for those embroiled in construction disputes.
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February 12, 2025
Ontario Court of Appeal finds order lifting BIA stay to be procedural, denies lender leave to appeal
The Ontario Court of Appeal has found that a lender did not have an automatic right to appeal an order lifting a stay under the Bankruptcy and Insolvency Act and has permitted a project owner to terminate an agreement with an insolvent project developer.
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February 11, 2025
Canada sanctions two Sudanese leaders linked to human rights violations
Ottawa is sanctioning two Sudanese leaders of opposing warring groups who are linked to the ongoing violence against civilians in Sudan, where more than 12 million people have been displaced as a result of the country’s internal conflicts.
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February 10, 2025
C.J. Wagner says top court ‘exploring’ provision of mediation in cases where leave to appeal denied
Lawyers say they want to know specifics about the out-of-the-blue disclosure from Supreme Court of Canada Chief Justice Richard Wagner that he has asked his staff to “explore the possibility” of the top court providing “mediation” for litigants in cases where the apex court denies leave to appeal, and his suggestion that family law cases might lend themselves to a potential mediation initiative.
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February 10, 2025
$30M settlement reached in proposed class action against Ontario cannabis company
A proposed $30 million settlement has been reached in a global investor class action against Ontario-based cannabis company Aphria Inc. and certain of its former officers and directors for alleged misrepresentations.
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February 10, 2025
Increasing regulations depressed economic and job growth, says StatCan study
In a new study on the potential impact of regulations on the economy, Statistics Canada has found that an increase in regulatory provisions from 2006 to 2021 was associated with a 1.7 percentage point reduction in gross domestic product growth and a 1.3 percentage point reduction in employment growth.
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February 07, 2025
Nova Scotia first to invite private firms to join public pension
Nova Scotia has become the first province in Canada to open its public service superannuation plan (PSSP) to private sector employers with the coming into force this week of the relevant legislation and regulations.
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February 07, 2025
B.C. Court of Appeal: Parallel class actions not abuse of process before certification
A proposed class action against a defendant facing a similar proposed class action in another jurisdiction is not inherently an abuse of process prior to the actions being certified, the B.C. Court of Appeal has held.
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February 06, 2025
Public service union threatens legal action over ongoing Phoenix payroll system problems
The Public Service Alliance of Canada (PSAC) has threatened legal action against the federal government over its failure to meet its targets to resolve delayed or incorrect payments made to federal employees through the Phoenix pay system since its launch in 2016.