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...
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”),...
Miller Thomson’s Montréal office featured in La Presse+
La Presse+
Restructuring, mergers and acquisitions, construction law, changing workplaces: the business world is full of challenges. Five lawyers from our firm offer an overview and some solutions. Read the article (available in French only): L’expertise juridique pour surmonter les défis entrepreneuriaux...
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...
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...
Changing Times: A Look at Trends Impacting Canadian Automobile Dealerships and What it Means for Insolvency Professionals
CAIRP Rebuilding Success, 38-39
Asim Iqbal co-authored an article on the trends that are impacting Canadian automobile dealerships and the implications for insolvency professionals. The COVID-19 pandemic brought about monumental changes to how we live and work as a society, affecting every business in...
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...
Levelling the playing field: The rise of litigation funding in Canada
The prohibitively high cost of litigation is arguably one of the main barriers to access to justice in Canada. As in many other legal markets, the soaring cost of legal fees has created an impediment to even well resourced parties...
