Amendments to the Saskatchewan PPSA, Bill 151 is Progressing
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan). Since December 2018, members of our Saskatchewan Financial Services team have been bringing you a number of posts...
Amendments to PMSI Rules in Saskatchewan
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act). Over the coming weeks our Saskatchewan Financial Services team will bring you a...
A Second Chance at Perfection: Saskatchewan’s PPSA Amendments and Re-Registration
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act). Over the coming weeks our Saskatchewan Financial Services team will bring you a...
One Incident, Potentially Multiple Breach Reporting Requirements – OSFI Introduces Cyber Breach Notification Guidelines for Financial Institutions
On January 20, 2019, the Office of the Superintendent of Financial Institutions of Canada (OSFI) issued an Advisory (also read: OSFI’s Guidance on cyber incident management framework) regarding the responsibilities of federally regulated financial institutions (FRFI), including banks, federal credit...
Saskatchewan’s PPSA Amendments – How Will Changes to Conflicts of Laws Rules be Implemented? Part 2
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act). Over the coming weeks and months our Saskatchewan...
Conflicted About Choice of Law? Saskatchewan’s PPSA Amendments on Conflicts of Laws Rules – Part 1
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act). Over the coming weeks and months our Saskatchewan...
Secured Lenders Beware! Saskatchewan is Proposing to Create a Superpriority for Employer Obligations to Pension Plans
Will this proposal capture unfunded liabilities under defined benefit pension plans? As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA...
New Saskatchewan Prompt Payment Legislation For Construction Projects: How Will it Impact Lenders?
Following the lead of Ontario, Saskatchewan has introduced amendments to The Builders’ Lien Act to provide for a “prompt payments” regime. Although the amendments are aimed at the timing and process for payment of invoices as between owners, developers, contractors...
PPSA Amendments are Coming to Saskatchewan
Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act) bringing some important changes to the PPSA that will affect secured creditors and borrowers. Bill 151 received first reading...
Lenders and their Counsel Walking on Sunshine: Court of Appeal Clarifies Section 4 of the Interest Act in Solar Power Decision
Introduction On September 4, 2018, Ontario’s Court of Appeal released its much anticipated decision in the case of Solar Power Network Inc. v. ClearFlow Energy Finance Corp.[1] In the original decision, an application judge found that the use of an...
