On March 6, 2018, the Federal Court of Appeal reversed the decision of the Federal Court of Canada in Iggillis Holdings Inc v Canada (National Revenue).
As we discussed in a previous post, the trial court decision in
Federal government creates new Ombudsperson to oversee corporate activity abroad
On January 17, 2018, the federal government announced two new initiatives relating to the oversight of Canadian companies doing business abroad.
The first initiative is the creation of an independent Canadian Ombudsperson for Responsible Enterprise (CORE). The mandate
Legal update: the Reducing Regulatory Costs for Business Act
On November 14, 2017 the Reducing Regulatory Costs for Business Act, 2017 received royal assent. While the Act is not yet in force, the new statute implements a number of initiatives designed to ensure that interactions with the provincial government
Investment Canada Act update: new thresholds and national security in the news
Threshold now $1 billion
As a result of recent amendments, most direct acquisitions of control of a Canadian company now only require prior approval of the Minister of Innovation, Science and Economic Development under the Investment Canada Act if the
New forfeiture of corporate property regime in Ontario
A new regime effecting the forfeiture of corporate property was recently enacted in Ontario. The new legislation, which came into force on December 10, 2016, includes the Forfeited Corporate Property Act, 2015 (FCPA) and related amendments to the
The InterOil decision: robust and independent fairness opinion required
A recent decision of the Yukon Court of Appeal, InterOil Corporation v Mulacek, has potentially significant consequences for corporate governance practices in the context of plans of arrangement.
Fairness opinions in plans of arrangement
When a corporation proposes a
Can a cause of action be assigned in a corporate transaction?
What happens when a key asset of a target corporation is a cause of action? Can it be assigned to the purchaser in an asset purchase or to a “Newco” in a corporate restructuring?
It is a longstanding common law
Solicitor-client privilege in mergers and acquisitions
What happens to the parties’ rights to assert solicitor-client privilege in the context of mergers and acquisitions?
The US Supreme Court has held that “when control of a corporation passes to new management, the authority to assert and waive the
Changes of note to the Yukon Business Corporations Act
On May 1, 2015, a significant number of changes to the Yukon’s Business Corporations Act and Business Corporations Regulation were proclaimed in force. This was the culmination of an almost seven-year process undertaken to modernize the Yukon’s corporations and securities
Successor liability in asset acquisitions
It is a well-established principle in Canada that where two corporations amalgamate, the new, continuing corporation assumes all of the liabilities and obligations of each of the constituent corporations. In order to avoid this consequence, businesses seeking to make acquisitions