Category: Corporate & Commercial

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SCC Affirms Duty of Care but Reduces Auditor’s Damages in Livent Decision

December 21, 2017

On December 20, 2017, the Supreme Court of Canada (SCC) released its long-awaited decision in Deloitte & Touche v. Livent Inc. (Receiver of) (Livent), which addressed the issue of the auditor’s liability for failing to detect a fraud perpetrated by the directing minds of Livent Inc. (Livent). The seven-member panel was unanimous that the defendant auditor was not liable to…

Alberta Court of Queen’s Bench Grants Mandatory Injunction Against Balancing Pool

November 23, 2017

On November 22, 2017, the Court of Queen’s Bench of Alberta (Court) issued a mandatory injunction in favour of ENMAX Energy Corporation (ENMAX) compelling the Balancing Pool of Alberta to, forthwith and in good faith, complete and communicate the result of its assessment and verification of ENMAX’s termination notice of the Keephills Power Purchase Arrangement issued on May 5, 2016….

New Canadian Sanctions Legislation in Effect: Sergei Magnitsky Law

November 7, 2017

On November 3, 2017, the Government of Canada introduced regulations under the recently enacted Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law) (SML) imposing an asset freeze on a number of foreign nationals identified by the government to be responsible for, or complicit in, significant corruption or gross violations of human rights. Like other Canadian sanctions laws,…

Court Upholds Commercial Certainty in Alberta Power Purchase Arrangements

October 16, 2017

The Alberta Court of Queen’s Bench (Court) has released an important decision regarding the Alberta power industry, which brings certainty to the effective dates of termination of power purchase arrangements (PPAs) in Alberta. In the late 1990s, the Government of Alberta deregulated the electricity market and introduced competition into the market for electrical power and created the Balancing Pool to,…

Doing Business in Canada

October 10, 2017

The Blakes Doing Business in Canada guide is an introductory summary of the laws and regulations that affect the conduct of business in Canada.

Quebec Introduces Much Anticipated Bill 141 to Revise Framework for Quebec Financial Sector

October 10, 2017

On October 5, 2017, Quebec’s Minister of Finance Carlos Leitão (Minister) introduced Bill 141, An Act mainly to improve the regulation of the financial sector, the protection of deposits of money and the operation of financial institutions (Bill) in the National Assembly, a much anticipated omnibus bill that is meant to improve the framework of Quebec’s financial sector and strengthen…

Canadian Economic Sanctions Update: New Sanctions Against Venezuela and Other Developments

October 3, 2017

Two recent developments in the Canadian economic sanctions regime are notable for Canadian financial institutions and businesses engaged in international trade: Canada has imposed new sanctions against Venezuela under the Special Economic Measures Act (SEMA) and removed the export ban it had in place against Belarus since 2006. VENEZUELA SEMA REGULATIONS The SEMA is the federal legislation through which Canada…

CETA Now In Force: Are You Maximizing the Benefits?

September 21, 2017

On September 21, 2017, the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) comes into force on a provisional basis. If they haven’t already done so, it is now time for Canadian businesses to take steps to ensure that they are prepared to take advantage of the tremendous opportunities presented by the CETA. HOW TO BENEFIT FROM CETA Following are…

B.C. Court of Appeal Decision a Setback for Class Action Defendants

August 28, 2017

On August 18, 2017, the British Columbia Court of Appeal (Court of Appeal) released a significant decision relating to certification matters for class actions that could have wide-ranging effects on competition class actions commenced in B.C. and elsewhere. Godfrey v. Sony Corporation (Godfrey) involved an appeal from a B.C. Supreme Court decision allowing certification of a class action on behalf…

Emission Limit Implementation Recommendations from Alberta’s Oil Sands Advisory Group

June 30, 2017

On June 16, 2017, the Alberta Oil Sands Advisory Group (OSAG) released its report, Recommendations on Implementation of the Oil Sands Emissions Limit Established by the Alberta Climate Leadership Plan, which sets out recommendations for implementing and remaining within the 100 megatonne (MT) per year greenhouse gas (GHG) emissions limit for the oil sands sector (Emissions Limit) articulated in Alberta’s…

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