Focus On

Banking, Bankruptcy & Insolvency


Friday, May 14, 2021 @ 9:49 AM

Decision has imperilled over $1 billion in tax ‘so far,’ Supreme Court hears Justice Russell Brown

A Federal Court of Appeal decision issued last year provides a roadmap for tax avoidance and should be overturned, the Supreme Court heard in oral arguments May 13. The conflict between the Canada Revenue Agency (CRA) and Loblaw Financial Holdings deals with whether the foreign accrual property (FAPI) provisions in the Income Tax Act (ITA) apply to the grocery giant’s former Barbados subsidiary Glenhuron Bank Limited (GBL). ... [read more]

Thursday, May 13, 2021 @ 12:32 PM

Nova Scotia court expanding certain services

In a bid to lessen backlog caused by a recent scaling back of operations, Nova Scotia’s Supreme Court will expand some of its services while continuing to run under an essential services model. Any non-urgent matters in the Supreme Court’s general division that can be done by telephone or videoconference will be allowed to proceed across the province, starting May 25. ... [read more]

Tuesday, April 27, 2021 @ 10:50 AM

DLA Piper adds Vancouver associate

DLA Piper (Canada) LLP welcomed Alex McCawley to the firm’s Vancouver office. ... [read more]

Friday, April 09, 2021 @ 3:41 PM

New associate joins Stewart McKelvey in Saint John

Stewart McKelvey welcomed Saint John associate Joel Reed back to the firm. ... [read more]

Thursday, April 01, 2021 @ 1:41 PM

New insolvency partner joins Woods team

Woods announced that Sylvain Rigaud, an insolvency and restructuring lawyer, has joined the Montreal firm as partner.  ... [read more]

Thursday, April 01, 2021 @ 9:08 AM

Regulators issue new guidelines for crypto asset trading platforms in Canada Geoffrey Cher, Wildeboer Dellelce LLP

Canada’s securities regulators have unveiled long-awaited guidelines for regulation of cryptocurrency trading, as the popularity of such platforms continues to grow and reshape financial markets. The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) issued a notice March 29 providing guidance on how securities legislation applies to crypto asset trading platforms (CTPs). ... [read more]

Wednesday, March 31, 2021 @ 9:00 AM

Ontario budget outlines plans to modernize, expand mandate of securities regulator Walied Soliman, Norton Rose Fulbright

The Ontario government is moving ahead with plans to modernize the province’s securities regulator after a task force report earlier this year recommended sweeping reform to equip it with more tools to better deal with rapid change in the global financial systems. ... [read more]

Tuesday, March 30, 2021 @ 11:33 AM

Banking proposals aimed at more proportional approach for smaller institutions, legal experts say Maziar Peihani, Lawson Lundell UBC Professor in Business Law at the University of British Columbia

Canada’s banking regulator is seeking input on a number of proposed regulatory changes aimed at fully implementing an international framework which was designed to help ensure the solvency of financial institutions after the 2007-09 financial crisis. The federal Office of the Superintendent of Financial Institutions (OSFI)’s consultation on introducing the latest and final round of Basel III framework into its capital, leverage and related disclosure guidelines for banks runs until the beginning of June. ... [read more]

Tuesday, March 23, 2021 @ 4:06 PM

DLA Piper adds associate in Calgary office

DLA Piper (Canada) LLP welcomed Kevin Hoy to the firm’s Calgary office as an ‎associate in the restructuring and insolvency group.  ‎ ... [read more]

Thursday, February 25, 2021 @ 9:34 AM

Class actions filed against banks for alleged unjust enrichment, misselling Gail Henderson, Queen’s University

The business practices of two major Canadian financial institutions are under scrutiny as class actions alleging unjust enrichment surrounding the management of a mutual fund and misrepresentation in sales practices weave their way through the courts. ... [read more]