COVID-19 and collections in the Court of Queen’s Bench for Saskatchewan
Courts across the country have taken steps to help curb the spread of COVID-19, and to protect litigants, lawyers, court staff and the judiciary. The Court of Queen’s Bench for Saskatchewan is no exception. The Court issued a new Practice...
COVID-19: Financial Services update, lenders obligation to act in a commercially reasonable manner and their duty of good faith
As a result of the global economic uncertainty arising from the COVID-19 pandemic, borrowers are now confronted with numerous concerns, including business interruptions impacting their cashflow and their ability to maintain access to liquidity in the face of an uncertain...
COVID-19 and release of holdback under Ontario’s Construction Act
UPDATE: The issues raised in this advisory have been addressed by Ontario’s issuance of O.Reg.137/20. Here is a link to our communique on O.Reg. 137/20. On March 17, 2020 the Ontario Government declared a state of emergency. On March...
COVID-19: Financial Services update, liquidity and anti-hoarding
While the COVID-19 pandemic is an unprecedented global crisis, the resurgence of the mentality that ‘Cash is King’ is all too familiar. In both the 2008 financial crisis and the downturn in the oil and gas industry beginning in 2014,...
Restructuring & Insolvency: COVID-19 preparedness and support commitment
As the impact of COVID-19 is felt around the globe we feel intensely our obligation to address every aspect of our operations with the goal of ensuring that family, friends and clients are safeguarded, and that we fulfill our duties...
Advisory Committee on Open Banking provides update on consumer-directed finance in Canada
Overview On January 31, 2020, the Advisory Committee on Open Banking[1] (the “Committee“) released a report on “Consumer-directed finance: the future of financial services” (the “Report“). The Report was in connection with the Committee’s consultation process and recommends the development...
RegTech: How technology can revolutionize compliance
Highly regulated industries, such as the financial services industry, have faced ever increasing regulatory compliance obligations. Technology, such as artificial intelligence (AI), that can be utilized to innovate the manner in which these organizations operate can lead to additional challenges...
Preserving Intellectual Property Rights in Licenses: Changes to the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act
As we reported last week, on November 1, 2019, amendments to both the Bankruptcy and Insolvency Act (the “BIA”)[1] and the Companies’ Creditors Arrangement Act (the “CCAA”)[2] came into force that, amongst other things, address the rights of intellectual property...
The 2019 Legislative Amendments to the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act
On November 1, 2019, major amendments to the Bankruptcy and Insolvency Act (Canada) (the “BIA”) and the Companies’ Creditors Arrangement Act (Canada) (the “CCAA”) included in Bill C-97[1] and Bill C-86[2] came into force. The Government of Canada has stated...
Ontario is Consulting on Possible Business Law Amendments
On October 11, 2019 the Ministry of Consumer and Government Services posted some of the recommendations for changes to Ontario’s business laws proposed by its Business Law Modernization and Burden Reduction Council (the “Council”). The Council is a group of...
