Banking, Bankruptcy & Insolvency
-
June 28, 2024
SCC settles confusion in tax disputes about jurisdictional boundaries of Federal and Tax Courts
In judgments that clarify the jurisdictional boundaries between the Federal Court and the Tax Court in tax disputes, the Supreme Court of Canada has rejected separate appeals by two Canadian companies who challenged how their taxes were assessed by the Canada Revenue Agency (CRA).
-
June 28, 2024
Appeal court finds insurer not liable to cover legal costs of fraudsters, citing misrepresentation
The Ontario Court of Appeal has ruled that two individuals facing lawsuits concerning an alleged Ponzi scheme operated through certain companies were not entitled to insurance coverage for their legal defence due to a material misrepresentation in their applications for coverage.
-
June 28, 2024
Veteran Toronto lawyer starts term as LSO treasurer
The Law Society of Ontario’s (LSO) new treasurer praised his predecessor, spoke of past accomplishments and talked about “ceremony, fellowship and policy.” The LSO’s June 28 Convocation featured remarks by newly elected treasurer Peter Wardle, a Toronto-based commercial litigation and professional liability lawyer who will serve in the role for the 2024-25 term.
-
June 27, 2024
Canada sanctions ‘extremist settler violence’ against Palestinians
Canada has imposed sanctions on seven Israelis and five entities in Israel “in response to 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.”
-
June 25, 2024
FINTRAC launches online reporting forms for electronic funds transfers and casino disbursements
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has implemented new electronic funds transfer and casino disbursement report forms in its effort to combat activities such as money laundering and terrorist financing.
-
June 25, 2024
Alberta Court of Appeal again rejects injunction on $117M letter of credit in pipeline contract
The Alberta Court of Appeal has dismissed an appeal concerning a dispute over a $117 million irrevocable letter of credit connected to a pipeline contract, finding that it could not stay its own previous decision allowing the letter to be called.
-
June 25, 2024
Canada sanctions Hamas ‘financiers’ in response to Hamas’s Oct. 7 terror attacks in Israel
Declaring “we stand with the Israeli people and call for the immediate release of all hostages,” Foreign Affairs Minister Mélanie Joly announced dealings and entry bans of nine “financiers” of Hamas and Palestinian Islamic Jihad and two Hamas-affiliated financial exchange companies, “effective immediately.”
-
June 24, 2024
Alberta court orders garnished funds to be distributed under BIA, not to judgment creditors
An Alberta court has ordered that funds from garnishees, found liable for payments owed by the bankrupt judgment debtor, be distributed in accordance with the Bankruptcy and Insolvency Act (BIA) rather than be used to satisfy the judgment debts.
-
June 24, 2024
Liberal government’s ‘intransigence’ and undue secrecy spurs litigation: information commissioner
A recent ruling from the Federal Court affirming a disclosure-of-government records order by Canada’s Information Commissioner illustrates the growth in litigation highlighted by the commissioner's 2023-24 annual report to Parliament, a litigation trend she says is fuelled by the Trudeau government’s court challenges and flouting of her legally binding orders.
-
June 21, 2024
Public school boards are bound by Charter; tribunals’ Charter rulings reviewed for correctness: SCC
In an important Charter and standard of review case, the Supreme Court of Canada has ruled that labour arbitrators and other administrative tribunals “should play a primary role” in deciding Charter issues within their bailiwicks — which Charter determinations courts should review on a “correctness” rather than “reasonableness” standard — and that the Charter applies to Ontario public school boards, thereby protecting board employees’ reasonable expectations of privacy in their workplaces and shielding employees from unreasonable search or seizure by their employers.