Banking

Displaying 11-20 of 102

Ontario Court of Appeal confirms the priority of secured construction lenders’ subsequent advances in face of execution creditors’ notice of writ

Some more good news for secured construction lenders. In a decision rendered April 9, 2020, the Ontario Court of Appeal has confirmed that the priority of subsequent advances by lenders holding a charge of real property will not be defeated...

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COVID-19 Financial Services Update: Pre-packaged sale transactions

As Canadian businesses continue to grapple with decreased cash flow as a result of COVID-19, many are looking for ways to generate cash and remain viable. One such way is to sell non-core assets or divisions through a pre-packaged sale...

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Ch-ch-changes: Saskatchewan’s PPSA amendments are here

In late 2018, the Saskatchewan Legislature introduced Bill 151 to amend The Personal Property Security Act, 1993 (Saskatchewan) (the “PPSA”). Our Saskatchewan Financial Services team spent the next many months analyzing the amendments and explaining them in a series of Financial...

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Protection for suppliers

The BC Supreme Court’s decision in Soccer Express Trading Corp. (Re), 2020 BCSC 749 shows some possible protections for critical suppliers under the CCAA When a company files for protection from its creditors, a supplier to that company who has...

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COVID-19 Financial Services Update: use of cash deposits in Québec

The situation created by the spread of COVID-19 will have a significant impact on the cashflow of several businesses as a result of a reduction in sales and, consequently, of accounts receivable and cash balances. While government support measures certainly...

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COVID-19 Financial Services Update: electronic chattel paper amendments to the PPSA come into force in Ontario

The amendments to the Ontario Personal Property Security Act (“PPSA”) and the Electronic Commerce Act that enable perfection by control of electronic chattel paper  (“ECP”)  came into  force on May 15, 2020. This is an especially important change during the COVID-19 emergency...

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Deemed trust for unremitted GST primes bank’s security interest

On April 29, 2020, the Federal Court of Appeal (the “FCA”) released their decision in The Toronto-Dominion Bank v Canada[1] (“TD v Canada”), in which the FCA concluded that a deemed trust in respect of unremitted goods and sales tax...

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Are you interested in decreasing the expense side of the balance sheet?: Ontario assessment appeal deadline extended to May 29, 2020

The Ontario deadline to file assessment appeals under the Assessment Act, R.S.O. 1990, c. A.31. has been extended to May 29, 2020.  You might be asking: Why should I care?  That question is answered below. We all know that property...

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COVID-19 Financial Services update: perfection by control

Our prior Financial Services Updates have focused on proactive and defensive measures that both lenders and borrowers can take in light of the economic hardships brought on by the COVID-19 pandemic. This week we focus on a practical consideration that...

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Saskatchewan Court of Queen’s Bench loosens COVID-19 restrictions

The Saskatchewan Court of Queen’s Bench is set to resume many operations that were suspended in March due to the COVID-19 pandemic. On April 23, 2020, the Court released a new directive outlining how it plans to restart some of...

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Displaying 11-20 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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