Banking

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COVID-19 Financial Services update: conflicts – related party loans

In light of the current economic environment surrounding the COVID-19 pandemic, companies are in need of additional liquidity and working capital. Recently, our group has seen an increase in lending transactions where shareholders are providing secured subordinated loans to their...

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COVID-19 Financial Services update: terminating or disclaiming contracts

In previous weeks our Financial Services Updates have discussed certain proactive measures that lenders and borrowers can take in light of the COVID-19 pandemic. This week our update focuses on the ability of companies to terminate contracts in accordance with...

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Government amends Regulation suspending limitation periods to allow for release of holdback under Ontario’s Construction Act

On April 1, 2020 we wrote about O.Reg. 73/20 which suspended limitation periods imposed by any Ontario law retroactive to March 16, 2020. We noted that if the effect of O. Reg. 73/20 applies to suspend the time for liens...

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COVID-19: Financial Services update, measures to permit remote electronic witnessing of documents

Although the COVID-19 crisis is having an enormous impact on businesses, commercial activity has not ended. As a result, lawyers continue to work on transactions for our clients, but most are doing so remotely. This new approach to legal work...

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COVID-19 and collections in the Court of Queen’s Bench for Saskatchewan

Courts across the country have taken steps to help curb the spread of COVID-19, and to protect litigants, lawyers, court staff and the judiciary. The Court of Queen’s Bench for Saskatchewan is no exception. The Court issued a new Practice...

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COVID-19: Financial Services update, lenders obligation to act in a commercially reasonable manner and their duty of good faith

As a result of the global economic uncertainty arising from the COVID-19 pandemic, borrowers are now confronted with numerous concerns, including business interruptions impacting their cashflow and their ability to maintain access to liquidity in the face of an uncertain...

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COVID-19 and release of holdback under Ontario’s Construction Act

UPDATE:  The issues raised in this advisory have been addressed by Ontario’s issuance of O.Reg.137/20.  Here is a link to our communique on O.Reg. 137/20.   On March 17, 2020 the Ontario Government declared a state of emergency. On March...

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COVID-19: Financial Services update, liquidity and anti-hoarding

While the COVID-19 pandemic is an unprecedented global crisis, the resurgence of the mentality that ‘Cash is King’ is all too familiar. In both the 2008 financial crisis and the downturn in the oil and gas industry beginning in 2014,...

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Restructuring & Insolvency: COVID-19 preparedness and support commitment

As the impact of COVID-19 is felt around the globe we feel intensely our obligation to address every aspect of our operations with the goal of ensuring that family, friends and clients are safeguarded, and that we fulfill our duties...

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Advisory Committee on Open Banking provides update on consumer-directed finance in Canada

Overview On January 31, 2020, the Advisory Committee on Open Banking[1] (the “Committee“) released a report on “Consumer-directed finance: the future of financial services” (the “Report“). The Report was in connection with the Committee’s consultation process and recommends the development...

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Displaying 21-30 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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