Enhanced superpriority for farmers – Lenders beware
Lenders beware, Canada is one step closer to establishing a framework that will provide significant enhanced protections for suppliers of perishable food items. Bill C-280, or the Financial Protection for Fresh Fruit and Vegetable Farmers Act (the “Act”), has passed...
Bill C-47: Amending the criminal interest rate in Canada
On April 20, 2023, following a consultation in 2022, the Government of Canada tabled Bill C-47, the Budget Implementation Act (the “Bill”). The Bill includes, amongst many other things, amendments to the criminal interest rate provision under section 347 of...
Chronicle – Monetary claims by Maxime Rhéaume
YvonBlais/Thomson Reuters This text is published in La Référence, Éditions Yvon Blais EYB2023REP3639. Maxime Rhéaume has written an article for Thomson Reuters on the review of the concept of the monetary claim introduced into the Civil Code of Quebec in...
Bill C-228 and defined benefit pension plans
The Canadian Parliament has enacted significant changes to federal insolvency legislation, elevating the priority that must be provided to fund the deficit of a defined benefit pension plan when distributing debtor assets. Bill C-228, the Pension Protection Act (the “Act”),...
Incorporating ESG practices and principles in loan transactions
Over the past number of years, there has been a growing emphasis on and push to incorporate Environmental, Social and Governance (“ESG”) principles in lending practices. Conducting business in a sustainable, socially-conscious way may allow lenders to improve their financial...
Insurance protection for secured lenders
Insurance certificates often provide that a debtor’s secured lenders are an “additional insured” and/or a “loss payee” on the debtor’s insurance policies without the statement that the lender is a “mortgagee” with a “standard mortgage clause.” These key words need...
A sigh of relief for agents in syndicated financings
Agents in syndicated loan transactions have received some much needed relief in respect of potential erroneous payments made by them to the lenders in their syndicate. Erroneous payments provisions became commonplace in many credit agreements in 2021 as a by-product...
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L’importance du nom constituant de l’hypothèque mobilière
Thomson Reuters
Maxime Rhéaume a rédigé un article pour Thomson Reuters sur l’importance du nom du constituant de l’hypothèque mobilière. Vous pourrez en apprendre davantage sur : Le Registre des droits personnels et réels mobiliers (« RDPRM »); Les fiches nominatives et fiches descriptives; Quelques...
Overview: OSFI’s draft guideline B-15 on climate risk management
On May 26, 2022, following consultation with key industry stakeholders, the Office of the Superintendent of Financial Institutions (“OSFI”) issued draft Guideline B-15: Climate Risk Management (the “Draft Guideline”).[1] The Draft Guideline represents OSFI’s response to the risks posed by...
The scope of non-debtor third party releases between the U.S. and Canada: A distinction with a difference
Introduction The chapter 11 proceedings of Purdue Pharma (“Purdue”), the pharmaceutical giant responsible for the manufacturing of the powerful narcotic painkiller OxyContin, have been closely followed by insolvency practitioners around the globe, as well as policy makers and members of...
