Banking

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Expansion of s. 38 of the BIA assignment of claims

Historically, an assignment of claims pursuant to s. 38 of Bankruptcy and Insolvency Act (the “BIA”)[1] has only been used in the context of an assignment in bankruptcy. For instance, the use of s. 38 of the BIA in the...

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The anti-deprivation rule is alive and well: Chandos Construction v Deloitte Restructuring

In its most recent decision, Chandos Construction Ltd v Deloitte Restructuring Inc.[1], the Supreme Court of Canada (the “SCC”) reaffirmed the existence of the common law anti-deprivation rule in Canada. The anti-deprivation rule provides that a contractual provision is void...

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Business interruption insurance and COVID-19: A discussion of future implications

In response to ongoing financial distress caused by COVID-19, many businesses have tried to make claims under their business interruption policies. It remains uncertain whether business interruption losses directly or indirectly caused by the pandemic, such as losses stemming from...

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Asset tracing and corporate intelligence techniques in cryptocurrency investigations

In the first half of 2018, $1.1 billion USD in cryptocurrency was stolen or trafficked online, with the majority of attacks targeting either regular businesses or cryptocurrency exchanges.[1] By 2019, that figure had jumped to $4.4 billion.[2] Despite these staggering...

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Lifting the stay

On July 27, 2020, the Newfoundland and Labrador Supreme Court (the “Court”) released its decision in Great North Data Ltd., (Re),[1] where Justice Handrigan outlined principles for courts to consider when exercising their power under section 69.4 of the Bankruptcy...

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Beware: Recommencement of limitations periods and procedural timelines in Ontario on September 14, 2020

Please beware that on August 20, 2020, the Ontario government (the “Government”) issued a news release providing that the order pertaining to the suspensions of limitations period made under the Emergency Management and Civil Protections Act, R.S.O. 1990, c. E.9...

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Redemption in a receivership

A recent decision of the Ontario Superior Court of Justice (Commercial List) (the “Court”)  in the receivership proceedings of The Clover on Yonge Inc.[1] (the “Clover Project”) has addressed the question of whether a debtor in receivership can avoid a...

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Protection for tenants/borrowers

The Ontario government enacted the Protecting Small Business Act, 2020 (the “PSBA”), effective June 18, 2020, which amended Ontario’s Commercial Tenancies Act (“CTA”) and created greater incentive for commercial landlords to participate in the Canada Emergency Commercial Rent Assistance (“CECRA”)...

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Bellatrix Exploration: Why a charge sometimes just isn’t enough

A recent decision in the Companies’ Creditors Arrangement Act (“CCAA”) proceedings of Bellatrix Exploration Ltd.[1] (“Bellatrix”) serves as a useful reminder to professionals that a court-ordered charge may not be enough to ensure their fees will be paid at the...

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Lender ‘know your client’ diligence—compliance with Canadian sanctions laws

In light of the continuing globalization of trade and international cross border financing arrangements, it is critical to determine if a transaction is prohibited by sanctions laws. Under Canadian and international law, there are a variety of sanctions laws that...

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Displaying 1-10 of 102

COVID-19 Resources

We have written on a variety of topics to help identify the pertinent issues, understand the legal implications, minimize risk exposure and manage legal obligations.

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Financial Services & Insolvency Communiqué

Read the latest issue of Miller Thomson’s Financial Services & Insolvency Communiqué

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