Should Redeemable-Upon-Demand Shares Be Included in Paid-Up Capital or...
On January 29, 2010, the Appeal division of the Court of Quebec determined that Credit Ford Canada Ltd. did not have to include the $1,170,000,000 worth of retractable shares issued in its paid-up...
View ArticleSCC to Consider the Residence of Trust for Tax Purposes
The residence of trusts and other business entities for income tax purposes has long been a source of confusion. The Supreme Court of Canada will attempt to resolve that confusion in the St. Michael...
View ArticleBanks Owe No Duty to Cheque Payees: Supreme Court of Canada
What is a cheque? What obligations arise for a bank presented with a cheque or collecting on one? Does the bank answer to the drawer, the payee, or both? These questions were recently put before the...
View ArticleWill Your Companies’ Creditors Arrangement Act Superpriority Still Be that...
In the context of an arrangement plan pursuant to the Companies’ Creditors Arrangement Act, a financial institution was granted a superpriority on all moveable and immoveable debtors’ assets following...
View ArticleBCCA May Consider the Test for Leave to Commence an Action Pursuant to the...
The British Columbia Court of Appeal may soon consider the test for a purchaser or vendor in the “secondary market” to obtain leave to commence an action for misrepresentation under Part 16.1 the BC...
View ArticleThe ISDA Master Agreement and Implied Terms: Text Over Context in the English...
Should a commercial contract be interpreted literally, or should a court adopt a non-literal interpretation if necessary to achieve a result that makes commercial sense given the context (the factual...
View ArticleHot Off the Press – World Class Actions: A Guide to Group and Representative...
In the newly published World Class Actions: A Guide to Group and Representative Actions Around the Globe, McCarthy Tétrault litigators David Hamer and Shane D’Souza co-authored the “Multijurisdictional...
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What to expect when you’re expecting… An answer from a regulator: SCC to...
The Supreme Court of Canada recently granted leave to appeal in a case involving the Autorités des marchés financiers (“AMF”), the Quebec regulator regarding financial products and services. The most...
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The Penalty Doctrine: Focus on Substance Not Form Says The High Court of...
When is a contractual term a penalty? Traditionally, a penalty has been characterized as a provision that results in unconscionable and disproportionate compensation for breach of contract. The recent...
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Give This Post Superpriority – Supreme Court Decides Sun Indalex Finance, LLC...
By Ronald Podolny and Mark Firman Introduction The Supreme Court has issued its much-anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers. The Supreme Court has issued its...
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Interlocutory Injunctions in the Public Interest: The UK Supreme Court...
By Brendan Owen Brammall In a recent decision, the UK Supreme Court considered whether public authorities, acting in fulfillment of their statutory mandate, have to give an undertaking in damages when...
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The UK Supreme Court clarifies: no marshalling without an underlying debt,...
By Sam Rogers The doctrine of marshaling has existed for centuries and was developed to address inequitable circumstances in which secured parties were unable to realize on their security. The UK...
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The U.K. Supreme Court revisits equitable compensation in commercial...
By Sam Rogers Trusts are widely used in commercial transactions. But, as creatures of equity, trusts raise issues that may not be immediately familiar to everyone who relies on them in the commercial...
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