Clash of the Cine-Titans: Court Finds that COVID-19 is Not an Excuse to Walk Away from an M&A Transaction
A recent decision of the Ontario Superior Court of Justice in Cineplex v Cineworld, 2021 ONSC 8016 (“Cineplex”) awarded the plaintiff Cineplex damages of $1.24 billion for breach of contract arising from Cineworld’s purported termination of an agreement to buy Cineplex, an operator of movie theatres in Canada.
New Guidance on Regulation of Crypto-Trading Platforms in Canada
The Investment Industry Regulatory Organization of Canada (“IIROC”) recently issued new guidance, together with the Canadian Securities Administrators (“CSA”), regarding crypto-trading platforms (“CTPs”).
The Final Report of the Capital Markets Modernization Taskforce: What Securities Litigators Need to Know
The Final Report of the Capital Markets Modernization Taskforce: What Securities Litigators Need to Know Much has changed in capital markets in the last seventeen years. Ontario’s securities regulatory framework, however, has not been comprehensively reviewed – until now. The Final Report of the Capital Markets Modernization Taskforce, delivered in January 2021, recommends significant amendments to update Ontario’s regulatory framework. The Report is the product of nearly a year of consulting with stakeholders.
C.M. Callow Inc. v. Zollinger: The Duty of Honest Contractual Performance Clarified
In the recent decision of C.M. Callow Inc. v. Zollinger , the Supreme Court of Canada (“SCC”) clarified the scope of the duty of honest contractual performance, as recognized by the Court in Bhasin v. Hrynew over six years ago. As explained in Bhasin, and further expanded on in C.M. Callow, the duty of honest contractual performance is one of the manifestations of the organizing principle of good faith in performance of contracts.
Three Things You Need To Know if a Contract is Breached Because of COVID-19
When a contract is breached because of COVID-19 consider there practical steps you can take to claim under business interruption insurance, or assess, prosecute, and de-risk a claim for damages (or possibly both).
The Canadian Securities Administrators 2018/2019 Enforcement Report – Key Highlights
The Canadian Securities Administrators (the “CSA”) is an umbrella organization of 10 provincial and 3 territorial securities regulators in Canada, which includes the Ontario Securities Commission (“OSC”). The CSA’s mission is “to give Canada a securities regulatory system that protects investors from unfair, improper or fraudulent practices and fosters fair, efficient and vibrant capital markets, by developing a national system of harmonized securities regulation, policy and practice.”
Brophy v. Harrison: A Reminder of the Costs Consequences for Taking a ‘Hard-ball’ Approach to Litigation
A recent decision of the Ontario Superior Court of Justice reminds litigants that cost considerations must be at the forefront of every decision made when litigating a case.
The OSC Whistleblower Program – Three Years Later
The OSC whistleblower program - key program updates and an evaluation three years in.
How Much Does it Cost to Fire An Employee Who is Approaching Retirement? For One Employee, the Court said at Least Three Years’ Pay
Although assessing the length of reasonable notice of termination is one of the most common issues in employment law, judicial determinations of reasonable notice are often unpredictable.
Auditors Owed No Duty of Care to “Client’s Clients” in Lavender
In its recent decision in Lavender v Miller Bernstein LLP, the Court of Appeal for Ontario overturned a summary judgment decision imposing liability on the auditor of a now defunct securities dealer in a class action brought on behalf of the dealer’s clients.