Business
-
October 24, 2024
Court upholds B.C jurisdiction despite overturning foreign defendant attornment finding
The B.C. Court of Appeal has overturned a ruling that certain foreign defendants accidentally attorned to the jurisdiction of the B.C. courts, finding that they had only sought relief related to jurisdiction and not called upon the court to decide the merits.
-
October 24, 2024
Can subcontractor’s lien rights expire on a subcontract-by-subcontract basis?
In Prasher Steel Ltd. v. Pre-Eng Contracting Ltd., [2024] O.J. No. 3856, the Divisional Court addressed several issues on appeal, focusing on the distinctions between “contracts” and “subcontracts” as defined by the Construction Lien Act, RSO 1990, c. C.30 (the “Act”), with respect to deadlines for preserving and perfecting lien claims.
-
October 24, 2024
Estate freezes: An icebreaker
Parents who run a family business often wish to pass that business and its proceeds on to their children. However, simply transferring the shares of the business to their children through their wills is often costly, chiefly due to the tax liabilities incurred by the estate. Several tax planning strategies have been developed to mitigate these tax liabilities. One of these strategies is known as an “estate freeze.”
-
October 24, 2024
Appeal citing lack of general propensity warning to jurors dismissed
When B.B. went to jail in the summer of 2017, he hoped a relationship with a woman who had been his surety would continue. The two communicated while B.B. was in jail by phone and letter. When B.B. was released on Oct. 20, 2017, and allowed to serve his sentence on weekends, he lived at his former surety’s apartment.
-
October 23, 2024
Ontario NDP, privacy commissioner unveil measures to improve safety of school children, educators
Members of Ontario’s Official Opposition NDP and the province’s information and privacy commissioner have announced separate initiatives aimed at improving the safety of school children and educators.
-
October 23, 2024
Alberta Law Society tribunal decision to sanction first Black justice minister sparks controversy
Canada’s first Black justice minister and solicitor general was found guilty this month of undermining the public’s “respect for the administration of justice” in a Law Society of Alberta (LSA) tribunal decision that has sparked criticism from some legal ethics experts.
-
October 23, 2024
OSC awards $150,000 to international whistleblower
The Ontario Securities Commission (OSC) has awarded $150,000 to an international whistleblower who provided information about significant issues at an early-stage firm, according to an Oct. 23 release.
-
October 23, 2024
Ontario judge denies certification for class action again after remittal from Court of Appeal
The Ontario Superior Court has again declined to certify a proposed class action against certain financial advisors following the province’s top court overturning a previous denial that was based on the pleadings disclosing no cause of action.
-
October 23, 2024
FINTRAC warns lawyers to be alert to potential money laundering and sanctions-evasion schemes
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has published a special bulletin on the use of the legal profession in money laundering and sanctions evasion, warning lawyers and businesses to be alert to the characteristics of financial transactions “that may be associated with the laundering of proceeds of crime through the legal profession.”
-
October 23, 2024
Ontario court rules that directors cannot be removed by shareholder proposal
In OneMove Capital Corporation v. Dye & Durham Limited, 2024 ONSC 5114, the court concluded that shareholders may not submit a proposal under s. 99 of the Ontario Business Corporations Act (OBCA) for the purpose of removing a director from office. Section 99 permits a voting shareholder to advance a “proposal” for consideration by shareholders, and such a proposal may include advancing a candidate for election to the board. The court held that a shareholder seeking the removal (as opposed to election) of a director must instead requisition a special meeting of shareholders under s. 105 of the OBCA.