Financial Services & Restructuring Communiqué

A pen sits over top a budget sheet

May 14, 2020

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

Jennifer Babe

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

Rebecca Jennings, Amanda Plastina, Kenneth R. Rosenstein

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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