Monetary Claims
Highlights A new regime for security over monetary claims came into force January 1, 2016. A “monetary claim” is (i) a claim for payment solely in money that (ii) is owed to the debtor by its creditor or a third party....
One-on-one with Jennifer Babe
Ontario for Practical Law Canada
Jennifer Babe discusses financial business law reform efforts in Ontario.
Stopping the Revolution in its Tracks: The Supreme Court of Canada Decides Lemare Lake Logging Ltd. v. 3L Cattle Company Ltd.
On November 13, 2015, the Supreme Court rendered its decision in Lemare Lake Logging Ltd. v. 3L Cattle Company Ltd. (2015 SCC 53) (“Lemare Lake”). Read the Court’s decision. The majority overruled the Saskatchewan Court of Appeal decision, which we wrote about...
An inside look into the recent amendments to the Ontario PPSA Location of the Debtor Rules
On December 31, 2015, amendments (enacted in 2006) to the conflicts of law rules in the Ontario Personal Property Security Act (“PPSA”) will be proclaimed into force. In order to perfect security in certain types of collateral, these new rules...
Repealing the Five Year Cap on Ontario PPSA Registrations for “Consumer Goods” Collateral: Good News for Lenders and Lessors
Ontario Bill 91, An Act to implement Budget measures and to enact and amend various Acts, received Royal Assent on June 4, 2015. The official short title of the legislation is the Building Ontario Up Act (Budget Measures), 2015 (the “Budget...
A Welcomed Wind of Change: Quebec Introduces Changes to the Regime for Taking Security in the Context of Syndicated Lending
With the passing of An act mainly to implement certain provisions of the budget speech of June 4, 2011 and return to a balanced budget in 2015-2016 (the “Act”) in the spring of 2015, the Government of Quebec introduced, among other things,...
Changes to the Guarantees Acknowledgement Act (Alberta)
Until now, Alberta law required that a personal guarantee be executed with the assistance of a notary public. Effective April 30, 2015, a notary public can no longer execute the certificate required by Alberta law. The certificate must be executed...
Lease Deposit Characterized as Security Interest: Summary of Alignvest Private Debt Ltd v Surefire Industries Ltd.
In the context of a tenant’s bankruptcy, Justice Romaine of the Alberta Queens Bench recently characterized a deposit provided under a lease as a security interest, as opposed to pre-paid rent, forcing an unsecured landlord to remit the money to...
Financial Institutions
Thomson Reuters
Chapter in Miller Thomson’s Business Laws of Canada.
Pushing for Perfection by VINs Despite Debtor Name Issues
Banking and Finance Law Review, Vol. 27, No. 4, August 2012
Article published with help from Wende Rapson, Tony Duggan, and Warren Barnard.
