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Tuesday, March 30, 2021 @ 8:31 AM

Law Society of Ontario’s By-law 14 amendment: Late better than never | Majid Pourostad

On Feb. 25, 2021, the Law Society of Ontario (LSO) made some amendments to By-Law 14, particularly s. 4 (1) that imposed a “reciprocity requirement” on applicants for the Foreign Legal Consultant (FLC) permit. An FLC is entitled only to give legal advice respecting the law of their home jurisdiction. Thus, they are not permitted to engage in any other aspects of the practice of Canadian law or appear in any court or before any tribunal in Canada. ... [read more]

Tuesday, March 30, 2021 @ 6:21 AM

FEDERAL INCOME TAX - Tax avoidance - Series of transactions - Non-arm’s length transactions

Appeal by the taxpayer from a Tax Court decision confirming an assessment under s. 160(1) of the Income Tax Act. ... [read more]

Tuesday, March 30, 2021 @ 6:21 AM

ARRANGEMENT - Powers of court - Approval - Fair and reasonable

Appeal by certain debenture holders from an order approving a plan of arrangement of iAnthus Capital. iAnthus’s secured creditors held secured debentures charging iAnthus’ assets and unsecured creditors which held convertible unsecured debentures. . ... [read more]

Monday, March 29, 2021 @ 4:10 PM

COVID-19 vaccine eligibility expands in Ontario; London moved to Red-Control

Ontario has expanded COVID-19 vaccine eligibility to other parts of the province and is tightening COVID-19 public health restrictions in London, moving the province’s fifth largest population centre to the Red-Control level effective March 30 at 12:01 a.m. ... [read more]

Monday, March 29, 2021 @ 3:12 PM

Basel standards, regulations for international banks operating in United Kingdom People standing on piles of coins

The Basel standards I, II and III are a series of international standards for bank regulation. In a nutshell, Basel pillar I is the enhanced minimum capital and liquidity requirements; pillar II involves an enhanced supervisory review process for firm-wide risk management and capital planning. Pillar III is the simple, transparent, non-risk based leverage ratio, total debt to total capital. This acts as a credible supplementary measure to the risk-based capital requirements that strengthen the regulation, supervision and risk management of the banking sector across the EU.    ... [read more]

Monday, March 29, 2021 @ 2:37 PM

Three new associates for Lerners in London

Lerners LLP announced that associates Mark McAuley, Vikas Sharma and Jessica Tracey have joined the firm’s office in London, Ont. ... [read more]

Monday, March 29, 2021 @ 2:22 PM

It’s official: Dates for cessation of London Interbank Offered Rate, part two Globe with different currencies around it

As we discussed in our first article of this series, the Financial Conduct Authority (FCA) announced the definitive dates on which all settings of the London Interbank Offered Rate (LIBOR) will either cease or become unrepresentative. ... [read more]

Monday, March 29, 2021 @ 2:03 PM

Negotiating expropriation process: Offers, voluntary conveyances Little house on a person's hand

When the government (Expropriating Authority) decides to take your land in order to complete a public works project, you may be apprehensive about negotiating for additional compensation. After all, it is natural to be afraid of a large, incorporeal entity that is entitled to take your land by statute. Nonetheless, right from the outset of the process, you will need to make important decisions in order to bolster your negotiation position. Initially, these choices will depend largely on whether you are willing to voluntarily give up your land or not. ... [read more]

Monday, March 29, 2021 @ 2:01 PM

Ontario fails in second attempt to shut down landmark climate change challenge Danielle Gallant, lawyer, Ecojustice

A key climate change lawsuit pitting seven young environmentalists against the Ontario government has cleared another legal hurdle. In a brief March 25 decision in Mathur v. Her Majesty the Queen in Right of Ontario 2021 ONSC 1624, a Divisional Court appeal panel comprised of Justices Katherine E. Swinton, Deena F. Baltman and Freya Kristjanson dismissed the Ontario government’s motion for leave to appeal a Nov. 12 decision by Superior Court Justice Carole J. Brown in Mathur v. Ontario 2020 ONSC 6918. ... [read more]

Monday, March 29, 2021 @ 11:43 AM

Third wave: A message from the authorities | David Israelson

Welcome to the third wave. ... [read more]