Banking, Bankruptcy & Insolvency
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June 27, 2024
Canada sanctions ‘extremist settler violence’ against Palestinians
Canada has imposed sanctions on seven Israelis and five entities in Israel “in response to the grave breach of international peace and security posed by their violent and destabilizing actions against Palestinian civilians and their property in the West Bank.”
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June 25, 2024
FINTRAC launches online reporting forms for electronic funds transfers and casino disbursements
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has implemented new electronic funds transfer and casino disbursement report forms in its effort to combat activities such as money laundering and terrorist financing.
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June 25, 2024
Alberta Court of Appeal again rejects injunction on $117M letter of credit in pipeline contract
The Alberta Court of Appeal has dismissed an appeal concerning a dispute over a $117 million irrevocable letter of credit connected to a pipeline contract, finding that it could not stay its own previous decision allowing the letter to be called.
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June 25, 2024
Canada sanctions Hamas ‘financiers’ in response to Hamas’s Oct. 7 terror attacks in Israel
Declaring “we stand with the Israeli people and call for the immediate release of all hostages,” Foreign Affairs Minister Mélanie Joly announced dealings and entry bans of nine “financiers” of Hamas and Palestinian Islamic Jihad and two Hamas-affiliated financial exchange companies, “effective immediately.”
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June 24, 2024
Alberta court orders garnished funds to be distributed under BIA, not to judgment creditors
An Alberta court has ordered that funds from garnishees, found liable for payments owed by the bankrupt judgment debtor, be distributed in accordance with the Bankruptcy and Insolvency Act (BIA) rather than be used to satisfy the judgment debts.
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June 24, 2024
Liberal government’s ‘intransigence’ and undue secrecy spurs litigation: information commissioner
A recent ruling from the Federal Court affirming a disclosure-of-government records order by Canada’s Information Commissioner illustrates the growth in litigation highlighted by the commissioner's 2023-24 annual report to Parliament, a litigation trend she says is fuelled by the Trudeau government’s court challenges and flouting of her legally binding orders.
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June 21, 2024
Public school boards are bound by Charter; tribunals’ Charter rulings reviewed for correctness: SCC
In an important Charter and standard of review case, the Supreme Court of Canada has ruled that labour arbitrators and other administrative tribunals “should play a primary role” in deciding Charter issues within their bailiwicks — which Charter determinations courts should review on a “correctness” rather than “reasonableness” standard — and that the Charter applies to Ontario public school boards, thereby protecting board employees’ reasonable expectations of privacy in their workplaces and shielding employees from unreasonable search or seizure by their employers.
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June 21, 2024
Ontario Court overturns finding that company directors were personally liable in property dispute
The Ontario Court of Appeal has overturned a finding that the directors of two companies were personally liable for the proceeds of the sale of a property that was the subject of a joint venture dispute.
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June 21, 2024
Court of Appeal rules $730K business debt for pipeline cleanup not covered by B.C. environmental law
The British Columbia Court of Appeal has allowed an appeal in a ruling that found that the lower court judge erred in determining that a creditor’s recovery claim for environmental remediation work related to a pipeline spill involved issues to be tried, rather finding that there was no cause of action.
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June 21, 2024
3 judicial appointments in Ontario
Minister of Justice and Attorney General of Canada Arif Virani announced in a June 18 press release three judicial appointments to the Superior Court of Justice of Ontario: Barbara A. MacFarlane, Colleen Yamashita and S. James Mountford.