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Alberta Court Clarifies Builders’ Lien Registration When Contract Abandoned

April 15, 2015

  On February 25, 2015, the Alberta Court of Appeal released its decision in Tervita Corporation v. ConCreate USL (GP) Inc. In that case, the court was required to determine whether a builders’ lien registered by Tervita Corporation (Tervita) was valid. In rendering its decision, the Court of Appeal answered two questions of interest to both contractors and owners:  …

Amendments to Code of Conduct for Credit and Debit Card Industry

April 14, 2015

  Amendments made to the Code of Conduct for the Credit and Debit Card Industry in Canada (Code) released by the Department of Finance on April 13, 2015, will have interesting repercussions across the entire payment industry affecting not only payment card networks but also, among others, acquirers, issuers and mobile app developers.   The Code came into force in…

Sale of Online Insurance Products: AMF Releases Recommendations

April 13, 2015

  On April 2, 2015, the Autorité des marchés financiers (AMF), the regulatory body responsible for enforcing the legislative framework applicable to the financial sector in Quebec, released a report entitled Internet Insurance Offerings in Québec: Presentation of Consultation Findings and Orientations (Report).   This Report follows a consultation held by the AMF in 2012 through which it sought comments…

A Skimmed Plan Nord: Keeping in Line with Quebec’s Current Economic Landscape

April 10, 2015

  The Quebec government first launched its Northern Plan, le “Plan Nord”, in 2011 with great fanfare. The Plan Nord seeks to develop Quebec’s vast territory north of the 49th parallel, which covers 72 per cent of the province or approximately 1.2 million km2. Since the initial announcement, the implementation of the Plan Nord has been stalled in large part…

Freeze, Ship – You’re Under Arrest: Former Warship Now Underwater Following Court Order

April 9, 2015

  The Federal Court ordered that a former Royal Canadian Navy destroyer be released from arrest before trial, without bail, so the ship could be sunk by its owner to create an artificial reef near Vancouver. The court’s order demonstrates that plaintiffs who cause a ship to be placed under arrest could become at risk of losing the powerful benefit…

Arbitration Outcomes Not Binding on Subsequent Arbitration Panels, Court Rules

April 8, 2015

  A recent Alberta Court of Queen’s Bench decision in ENMAX Energy Corporation v. TransAlta Generation Partnership addresses long-standing legal principles such as stare decisis and res judicata in the context of arbitration proceedings. In doing so, the court highlights some of the differences between arbitration and court proceedings. The decision is of particular interest to those parties seeking assistance from…

Commenters Don’t Hold Back: Responses to Civil Liability and Enforcement Provisions of Draft Cooperative Capital Markets Legislation

April 6, 2015

INTRODUCTION   The consultation drafts of the proposed uniform provincial capital markets legislation, Provincial Capital Markets Act (PCMA), and federal capital markets legislation, Capital Markets Stability Act (CMSA), (Consultation Drafts) propose new, and in some instances unprecedented, civil liability and regulatory and criminal enforcement provisions which, if enacted, will have important implications for capital markets participants.   The PCMA and…

Federal Government’s Mandatory Grain Shipment Rules Not Extended

April 6, 2015

The grain shipment rules (Rules) enacted by the Canadian government—the most recent iteration of which expired on March 28, 2015—have not been renewed. Thus, for the first time since March 7, 2014, the Canadian National Railway Company (CN) and the Canadian Pacific Railway Company (CP) are not subject to special shipment requirements designed to ensure the elimination of backlogs of…

Too Many Changes, More Consultation Required: Comments on Proposed Cooperative Capital Markets Legislation

April 2, 2015

Comments on the consultation drafts of the uniform provincial capital markets legislation, Provincial Capital Markets Act (PCMA), and new federal capital markets legislation, Capital Markets Stability Act (CMSA), (Consultation Drafts) by capital markets stakeholders suggest that additional “robust” consultation is required for the PCMA and CMSA, particularly given the significant changes to securities and capital markets laws that such proposed…

Fundamental Changes to Take-over Bid Regime One Step Closer With Release of Draft Amendments

April 1, 2015

On March 31, 2015, the Canadian Securities Administrators (CSA) released draft amendments to Canada’s take over bid regulatory regime. As previously announced by the CSA in September 2014, the amendments will increase the minimum period that a take-over bid must remain open from 35 days to 120 days—unless the target board consents to a shorter period of not less than…