Publications
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SMEs, Governance and Directors
Since the mid-1990s, the promotion of corporate governance has been the subject of various public and private initiatives in Canada. The first of them were aimed at reporting issuers. State-owned corporations and other public sector organizations were targeted next.As a result of the example (…)
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What happens when a contract does not reflect what was agreed upon between the parties?
On October 28, 2011, the Quebec Court of Appeal upheld a judgment of the Superior Court allowing for clauses of a loan agreement to be modified by the Court so as to reflect the common intention of the parties after it was proved that there was a discrepancy between the real intention of the (…)
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When it becomes necessary to revoke the appointment of an inspector to ensure the proper functioning of the proposal or bankruptcy process
When a bankruptcy occurs, the creditors play a central role in the administrative control of the bankrupt’s estate. In this regard, the Bankruptcy and Insolvency Act provides that, at the first meeting of creditors, the creditors must, among other things, affirm the appointment of the trustee (…)
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Creation of New Internet Domain Names in 2012
On June 20, 2011, in Singapore, ICANN (Internet Corporation for Assigned Names and Numbers), the global co-ordination body for Internet addresses, approved the new program for the thematic extension of gTLDs. This program will certainly lead to significant growth in the number of domain names (…)
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The Superior Court Overturns the Decision of the Commission des lésions professionnelles: the Reduction of the Income Replacement Indemnity at Age 65 is not Discriminatory
On March 18, 2010, the Commission des lésions professionnelles (“CLP”), in the case of Côté et Traverse Rivière-du-Loup, declared invalid section 56 of An Act respecting industrial accidents and occupational diseases (the “AIAOD”). It found that the section was discriminatory (…)
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Update on Planned Production Shutdowns
Since 1968, labour relations in the construction industry have been governed by a specific statute, the Act respecting labour relations, vocational training and workforce management in the construction industry.At the time, R-20 was enacted to put some order in an industry struggling with an (…)
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Secured or postponed: Where does the secured lender who shares?
On April 4, 2011, the Honourable Benoît Morin, speaking for the Court of Appeal, with Justices Michel Robert and Jacques A. Léger concurring, issued a judgment confirming the decision of the Superior Court rendered on April 22, 2009 by the Honourable Jean-Yves Lalonde. The case arose out of the (…)
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The Canada Consumer Product Safety Act: Are you ready?
After more than three years of delays, studies and public consultations, the Canada Consumer Product Safety Act came into force on June 20, 2011. The Act imposes new obligations on manufacturers, importers and sellers of consumer products and grants significant powers to Health Canada. It will (…)
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Directors and Risk Management
Risk management has always been a part of an enterprise’s management profile. Historically, boards of directors did manage risk, albeit in a less systematic way.Greater emphasis has been placed on this aspect of management over the last few years. Thus, the practices which were recommended to (…)
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Change in Corporate Culture: New Expectations of the AMF for Insurer’s “Commercial Practices”
On March 11, 2011, the Autorité des marchés financiers (the “AMF”) published a draft Commercial Practices Guideline, which is available for public consultation on the website of the AMF until April 22, 2011.This Guideline constitutes a statement of principle on the expectations of the (…)
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BIA: Equity claims in proposals – A look at new section 54.1 BIA
On October 28, 2010, Justice Yves Poirier of the Quebec Superior Court rendered a decision, which enforced the application of new section 54.1 of the Bankruptcy and Insolvency Act. The case, Aliments Möpure inc. (Avis d’intention et de proposition de) (“Möpure”), addressed the (…)
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CCAA: Bet on the right horse – the “stalking horse” in Quebec
The case of the arrangement respecting White Birch Paper (the “White Birch Group”) was one of the most significant matters brought before the Commercial Division of the Superior Court of Quebec in 2010. Not only did this matter receive a lot of attention on account of its crossborder (…)
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Quebec in the Corporations Era
The Business Corporations Act (Quebec) (the “QBCA” or the “Act”) comes into force on February 14, 2011. Described as innovative by many, the Act provides a new regime for legal persons currently governed by Parts I and IA of the Companies Act (the “QCA”). The last (…)