April 5, 2017
The Ontario Ministry of the Environment and Climate Change (MOECC) held the first auction of greenhouse gas (GHG) allowances on March 22, 2017 and published the auction’s results on April 3, 2017. All 2017 allowances were sold at the auction at a settlement price of C$18.08 per tonne of GHG. For further details of the new cap-and-trade legislative measures, please…
March 23, 2017
On March 22, 2017 the Minister of Finance introduced Canada’s 2017 Federal Budget (2017 Budget). Despite persistent rumours, no change was proposed to the capital gains inclusion rate. The 2017 Budget does include a mix of targeted anti-avoidance rules, legislative responses to recent jurisprudence, and other narrow changes to address perceived problems in the existing provisions of the Income Tax…
February 16, 2017
The development of Canada’s liquefied natural gas (LNG) export industry has attracted much attention in recent years as large and mid-scale LNG export projects in British Columbia and Eastern Canada have shifted from a surge in initial project development to increased uncertainty in the face of depressed global LNG prices. What has attracted less attention over this time is the…
December 21, 2016
2016 AND LOOKING FORWARD Canadian M&A activity rose once again in 2016, surpassing a record-breaking 2015 to become the most active year in Canadian deal-making history. In terms of deal value, 2016 will be second only to the peak of 2007. The aggregate value of announced deals to date is C$399.9-billion, while announced deal volume reached an impressive 3,100 transactions….
November 30, 2016
In Smoothwater Capital Corporation v. Marquee Energy Ltd. (Smoothwater), the Alberta Court of Appeal (Court) overturned the Alberta Court of Queen’s Bench controversial decision granting shareholders of an acquiring company a vote in a plan of arrangement. For further information, please see our October 2016 Blakes Bulletin: A New Arrangement? Alberta Court Requires Shareholder Vote for Acquiring Company in a…
November 21, 2016
On November 15, 2016, Ontario’s Ministry of Environment and Climate Change (MOECC) posted its Offset Credit Regulatory Proposal on the Environmental Registry, where it will be available for comment until December 30, 2016. Offset Credits will increase the compliance options for facilities covered by the cap-and-trade program and they will extend the environmental benefits of greenhouse gas (GHG) mitigation. For…
October 11, 2016
In a recent Court of Queen’s Bench of Alberta case, Alberta Oilsands Inc. (Re) (Alberta Oilsands), Justice A. D. Macleod made a surprising decision in the context of a plan of arrangement under the Business Corporations Act of Alberta (ABCA). Justice Macleod held in Alberta Oilsands that shareholders of an acquiring company in a plan of arrangement, at least on…
June 28, 2016
The next several months are set to be an important period for Canada’s nascent liquefied natural gas (LNG) industry. After nearly half a decade of project announcements, commercial development, increasing press coverage and often intense political debate, it is expected that the remainder of 2016 could see one or more of the country’s first affirmative LNG final investment decisions.
June 23, 2016
The Alberta Electric System Operator (AESO) has been tasked with developing and implementing a plan to significantly increase renewable electricity generation capacity in the province from 11 per cent to 30 per cent of Alberta’s total generation capacity by 2030. The AESO recently provided its recommendations regarding its proposed renewable electricity program (REP) to the Alberta government.
June 10, 2016
On June 8, 2016, the Ontario government (Government) released a five-year Climate Change Action Plan (Action Plan), which builds on the Government’s Climate Change Strategy released in November 2015, that set the long-term vision for meeting greenhouse gas (GHG) emissions reduction targets. The Action Plan outlines the key actions the Government will take to combat climate change at a cost…