Banking, Bankruptcy & Insolvency
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February 06, 2025
B.C. Court of Appeal overturns lower court, certifies class action against HSBC over fund management
The B.C. Court of Appeal has certified a class action against HSBC Global Asset Management and HSBC Investment Funds over allegations that mutual funds that they represented as actively managed were in reality passively managed to replicate a market index.
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February 05, 2025
Virani extols more diverse bench; says he’s working to get new wrongful conviction review body going
In contrast to the new U.S administration’s dismantling of diversity, equity and inclusion (DEI) policies targeting hiring biases against members of racialized and other underrepresented groups, the Trudeau government is doubling down on its commitment to diversity, with Justice Minister Arif Virani proudly extolling the federal Liberals’ record of appointing many “brilliant” women and racialized jurists to the federal trial and appellate benches.
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February 04, 2025
Alberta Court of Appeal overturns $25M reverse termination fee order in failed merger
The Alberta Court of Appeal has overturned an order requiring the payment of a $25 million reverse termination fee in relation to a failed business acquisition, finding that the lower court erred in interpreting the definition of an approval that could trigger the termination fee.
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February 04, 2025
Business, consumer bankruptcies reached 15-year high in 2024, says insolvency association
Last year was Canada’s worst year for business and consumer insolvencies since the recession of 2009 — and 2025 could be even worse if a trade war with the U.S. ensues, according to the chair of the Toronto-based Canadian Association of Insolvency and Restructuring Professionals (CAIRP).
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February 03, 2025
Chief Justice Wagner says federal judicial appointments on ‘right path’ as vacancies hit low of 30
The minority Liberal federal government has turned around the “untenable” situation Canada’s top judge warned about two years ago that was harming Canadians, due to a persistently-high number of federal judicial vacancies caused by Ottawa’s years-long chronic delays in appointing judges.
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February 03, 2025
Ontario Court approves $3 million settlement in Fortress Real Developments class action
An Ontario Superior Court judge has approved a $3 million settlement in a class action involving investors who lost millions of dollars in a real estate project funded by now defunct Fortress Real Developments Inc. and its affiliated companies, Fortress Real Capital Inc. and FMP Mortgage Investments Inc.
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January 31, 2025
Top judge says SCC wants to hear more private law cases, urges Canadians to ‘fight for’ rule of law
As the Supreme Court of Canada marks its 150th birthday amid rising incursions on the rule of law abroad, Chief Justice Richard Wagner says it can also be an opportune time for Canadians to reflect on the state of their own courts, the rule of law and their independent and impartial justice system.
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January 31, 2025
Federal government defers capital gains inclusion rate hike to 2026
The federal government has announced it is deferring the implementation of its increase in the capital gains tax inclusion rate from June 25, 2024 to Jan. 1, 2026.
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January 31, 2025
Federal Court blocks trademark over likelihood of confusion with registered marks
In a clash between a global investment giant and a Canadian investment firm, the Federal Court has blocked the registration of the proposed trademark “LIVE WITH CONFIDENCE,” ruling that the Trademarks Opposition Board erred by analyzing it and existing trademarks “INVEST WITH CONFIDENCE” and “RETIRE WITH CONFIDENCE” side-by-side instead of as unitary phrases.
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January 28, 2025
Inquiry calls for new prohibitions, penalties against foreign interference in Canada’s democracy
The federal Public Inquiry into Foreign Interference has recommended new prohibitions, fines and stiffer administrative monetary penalties (AMPs), as well as other legislative changes, to strengthen Canada’s defences against foreign interference in the country’s democratic processes.