Banking, Bankruptcy & Insolvency
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January 16, 2025
Gazans arriving in Canada can now apply for one-time ‘transitional’ support for basic needs
Palestinians fleeing Gaza who arrive in Canada to join family here can now apply to receive lump-sum “transitional” financial assistance for their basic needs, via a one-time direct payment of $3,000 per adult and $1,500 per child under age 18, the federal government says.
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January 15, 2025
New anti money laundering rules increase obligations for private ATM owners, title insurers
Owners of white label automated teller machines (ATM) and title insurers will be subjected to enhanced disclosure obligations and reporting requirements starting Oct. 1, 2025, according to regulatory amendments issued earlier this month.
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January 14, 2025
Ontario Court of Appeal upholds amended promissory note, finds tax deferral is valid consideration
The Ontario Court of Appeal has upheld the validity of an amended promissory note, which was part of an employee’s compensation package, finding that tax deferral benefits and the certainty provided by the amended terms constituted sufficient consideration to support the agreement.
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January 10, 2025
Canada announces additional sanctions on Venezuelan officials in wake of disputed election
The federal government has announced it is imposing new sanctions on 14 current and former senior officials in the government of Venezuelan president Nicolás Maduro, who was sworn in for a third six-year term Jan. 10 following a disputed election and despite U.S.-led sanctions.
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January 09, 2025
Federal government announces various changes to Canada Pension Plan now in effect
The federal government has announced various changes to the Canada Pension Plan (CPP) that became effective as of Jan. 1, including a new benefit relating to students who are children of contributors that are disabled or deceased, a death benefit top-up and new rules for survivors’ pension entitlement.
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January 08, 2025
Ontario calls for comprehensive energy pact with United States amid tariff threats
Ontario Premier Doug Ford is proposing the creation of a Canada-United States working group made up of lawmakers and industry experts to align regulations that he says slow the building of cross-border energy infrastructure, including for transmission lines, interties and pipelines.
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January 08, 2025
Alberta Court of King's Bench denies time extension to appeal CCAA initial order
In a rare decision on the matter, the Alberta Court of King’s Bench has declined to grant certain debtor companies an extension of time to appeal an initial order under the Companies’ Creditors Arrangement Act (CCAA), finding that they had not established a bona fide intention to appeal within the statutory period.
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January 07, 2025
RCMP launches advisory group pilot to combat misconduct in capital markets
The Royal Canadian Mounted Police (RCMP) has established a National Special Advisory Group pilot program for its Integrated Market Enforcement Team (IMET), according to a release.
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January 06, 2025
Government bills die on order paper as Parliament prorogues, Justin Trudeau announces departure as PM
After more than nine years as Prime Minister of Canada, Justin Trudeau announced that Parliament is prorogued until March 24, 2025, and that he will step down as prime minister and leader of the Liberal Party of Canada once his successor has been chosen “through a robust nationwide competitive process.”
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January 06, 2025
B.C. Court of Appeal upholds return of aircraft order, clarifies legal test for replevin order
The B.C. Court of Appeal has upheld a replevin order requiring the return of an aircraft to its owner, rejecting arguments that an applicant seeking such an order is required to establish a risk of disposal of the property.