Business
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October 25, 2024
Property buyer who withheld partial amount over price dispute breached agreement, rules appeal court
The Ontario Court of Appeal has held that a buyer who unilaterally reserved part of the purchase price of two commercial properties pending the resolution of a dispute about the price breached the sale agreement.
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October 25, 2024
Fraud is most prevalent cybercrime; most hate crimes targeted race/ethnicity
Fraud, including identity fraud and identity theft, accounted for most of the 41,162 cybercrimes reported to Canadian police in the first six months of 2024, Statistics Canada says.
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October 25, 2024
FINTRAC special bulletin on use of legal profession in money laundering, sanctions evasion
On Oct. 23, 2024, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) published a Special Bulletin on the use of the legal profession in money laundering and sanctions evasion. I think this publication, especially its timing, raises an interesting question — but before I get to that question, we need to review the history between FINTRAC and the legal profession.
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October 25, 2024
Transparency and accountability in AI systems: Building trust through openness
In the rapidly evolving domain of artificial intelligence (AI), transparency and accountability stand as pillars for building trust between technology providers and users. Following our discussions on legal authority, consent, necessity and proportionality, this article shifts focus to how businesses can implement transparency and accountability in their AI operations. These principles are critical for ensuring that AI technologies are used ethically, responsibly, and in alignment with privacy laws.
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October 24, 2024
Supreme Court refuses to hear appeal over inclusion of major banks in $1B price-fixing class action
The Supreme Court has declined leave to appeal a decision by Ontario’s top court permitting the addition of Bank of America, Merrill Lynch, JP Morgan and Morgan Stanley to a $1 billion class action alleging price fixing in the global gold and silver market.
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October 24, 2024
Federal Court deals partial setback to $4B class action against Meta, Google over alleged conspiracy
The Federal Court has allowed motions to strike a plaintiff’s claims against tech giants Google and Facebook owner Meta for alleged breaches of the Competition Act for conspiracy, finding the companies did not enter into an agreement as competitors.
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October 24, 2024
Small business owners report significant increase in criminal incidents, says CFIB report
Only a third of Canadian small-business owners say they’re happy with the support they’re getting from local police forces to address an apparent increase in criminal incidents affecting them, according to a recent report from the Canadian Federation of Independent Business (CFIB).
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October 24, 2024
Court upholds B.C jurisdiction despite overturning foreign defendant attornment finding
The B.C. Court of Appeal has overturned a ruling that certain foreign defendants accidentally attorned to the jurisdiction of the B.C. courts, finding that they had only sought relief related to jurisdiction and not called upon the court to decide the merits.
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October 24, 2024
Can subcontractor’s lien rights expire on a subcontract-by-subcontract basis?
In Prasher Steel Ltd. v. Pre-Eng Contracting Ltd., [2024] O.J. No. 3856, the Divisional Court addressed several issues on appeal, focusing on the distinctions between “contracts” and “subcontracts” as defined by the Construction Lien Act, RSO 1990, c. C.30 (the “Act”), with respect to deadlines for preserving and perfecting lien claims.
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October 24, 2024
Estate freezes: An icebreaker
Parents who run a family business often wish to pass that business and its proceeds on to their children. However, simply transferring the shares of the business to their children through their wills is often costly, chiefly due to the tax liabilities incurred by the estate. Several tax planning strategies have been developed to mitigate these tax liabilities. One of these strategies is known as an “estate freeze.”