New Developments in Canadian Competition Law and Foreign Investment

September 18, 2014

  BUREAU’S NEW PRICE MAINTENANCE ENFORCEMENT GUIDELINES   On September 15, 2014, the Competition Bureau (Bureau) published its Price Maintenance Enforcement Guidelines (Guidelines). These Guidelines describe the Bureau’s approach to enforcing section 76 of theCompetition Act (Act), a civil provision focused on conduct that influences the price at which a downstream supplier sells its products and which has an adverse…

Cooperative Capital Markets Regulatory System Agreement and Draft Legislation Released

September 17, 2014

  On September 8, 2014, the Canadian government and the British Columbia, Ontario, Saskatchewan and New Brunswick governments entered into a memorandum of agreement (Agreement) formalizing the terms and conditions of the cooperative capital markets regulatory system (Cooperative System). Consultation drafts of the uniform provincial capital markets legislation (Provincial Capital Markets Act (PCMA)) and complementary federal legislation (Capital Markets Stability…

Competition Bureau Outlines International Merger Priorities and Tribunal Clarifies Third-Party Challenge Rights

September 12, 2014

  SPEECH OUTLINES BUREAU PRIORITIES   On September 10, 2014, Senior Deputy Commissioner of Competition, Mergers, Lisa Campbell outlined the Competition Bureau’s (Bureau) international priorities and announced new initiatives during a speech at the Global Antitrust Enforcement Symposium at Georgetown University Law Center in Washington, D.C.   Collaboration with U.S. Agencies: Earlier this year, the Competition Bureau and the U.S….

Prospectus Offerings: 5 Questions Issuers Need to Consider

September 9, 2014

  Canadian public companies raising capital should consider the following five questions prior to launching a prospectus offering of securities.   1)  WHAT SECURITIES TO OFFER? Whether companies offer shares, debt, hybrid, committed or contingent, convertible or non-convertible securities, a company’s capital needs will be paramount in determining what type of security to issue, while the decision will also be…

Selected International Measures from August 2014 Legislative Proposals

September 8, 2014

On August 29, 2014, the Minister of Finance released for consultation draft legislative proposals (August 29 Proposals) to amend the Income Tax Act (Canada) (Act) which would implement certain measures from the 2014 federal budget as well as certain other measures. The government has invited comments by September 28, 2014. It is expected that the government will then introduce these…

Contractors Cannot Lien for Damages: Alberta Master Rules on Proper Subject Matter of Builders’ Lien

September 8, 2014

An Alberta master’s decision examined the burden of proof in an application to reduce the amount of security posted to discharge a builders’ lien, and whether damages – such as losses that may not sufficiently relate to improvements to the land – may also be included in claim for a builders’ lien. In Krupp Canada Inc v. JV Driver Projects…

OSC Adopts Restrained Interpretation of ‘Public Interest’ Jurisdiction in Baffinland Case

September 4, 2014

On August 26, 2014, a panel of the Ontario Securities Commission released its decision in a high-profile enforcement proceeding brought by OSC Staff against Jowdat Waheed and Bruce Walter. Staff had made a series of allegations against Waheed and Walter, including allegations of insider trading and conduct contrary to the “public interest,” arising out of a hostile take-over bid the…

Alberta Appeal Court Adopts New Approach to Corporate Litigants’ Document Production Obligations

August 29, 2014

On August 5, 2014, the Alberta Court of Appeal released a decision that may expand corporate litigants’ document production obligations. In Dow Chemical Canada ULC v. Nova Chemicals Corp. (Dow Chemical), the Court of Appeal held that records that were in the possession of the plaintiffs’ parent corporation should be considered to be within the plaintiffs’ control, and thus subject…

New Regulations a Gas for B.C.’s LNG Participants

August 28, 2014

  British Columbia’s oil and gas regulator, the BC Oil & Gas Commission (Commission), recently enacted theLiquefied Natural Gas Facility Regulation (Regulation) pursuant to section 111(2) of the Oil and Gas Activities Act. The Regulation is the latest in a series of regulatory developments aimed at formalizing and clarifying the provincial government’s Liquefied Natural Gas (LNG) Strategy that was released…

Permanent Court of Arbitration Grants Largest Arbitral Award in History

August 25, 2014

On July 28, 2014, a tribunal sitting at the Permanent Court of Arbitration in The Hague awarded the largest arbitral award in history. In this landmark decision, the tribunal, which was chaired by Yves Fortier, Canada’s former representative on the UN Security Council, ordered the Russian Federation to pay over US$50 billion in damages to three former shareholders of Yukos…