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 (…)
In a recent decision of the Court of Appeal, the Honourable Pierre J. Dalphond confirmed that a secured creditor may use its debt to acquire the assets which are charged with its security interests in the context of a sale process monitored by the Court under the Companies’ Creditors (…)
Since the amendments made to the Civil Code of Québec (“C.C.Q.”) in 2002, article 2762 provides that:2762. A creditor having given prior notice of the exercise of a hypothecary right is not entitled to demand any indemnity from the debtor except interest owing and costs.Notwithstanding (…)
On October 7, 2010, the Supreme Court of Canada rendered its judgment in the Burke v. Hudson’s Bay Co. case. The Supreme Court dismissed the appeal brought by certain former employees and confirmed the judgment rendered by the Ontario Court of Appeal.
On April 28, 2005, the Chambre des notaires du Québec filed a petition to declare unconstitutional and of no force and effect requirements issued by the Canada Revenue Agency (CRA) under sections 231.2 and 231.7 as well as subsection 5 of section 232(1) of the Income Tax Act, R.S.C. 1985, c. 1 (5th (…)
On September 23, 2010, the Supreme Court of Canada issued an unanimous judgment in the case of Progressive Homes Ltd. v. Lombard General Insurance Co. of Canada, reversing two lower Court judgments of British Columbia which had concluded that the insurer, Lombard, had no duty to defend the general (…)
Last August 3, the Superior Court of Québec dismissed the motion for authorization to institute a class action filed by Mr. Michel Dell’Aniello against Vivendi Canada Inc. This decision deals with two subjects of interest, namely, unilateral changes made by an employer to the group insurance (…)
On July 28, 2010, the Tribunal administratif du Québec confirmed a decision of the Régie des rentes du Québec which had refused to register adverse amendments made to a pension plan despite the consent given to the amendments by the sole member of the plan.
Obviously, as regards the mining industry, Québec will not be the only jurisdiction in which action is expected after the summer break. While the parliamentary commission continues reviewing Bill 79 amending the Mining Act (Québec) , Ottawa is not outdone as the House of Commons must proceed with (…)
Are you planning to carry out a transaction? Does it involve a party that is related to your company? If so, you may be forced to obtain an independent valuation and the approval of your minority shareholders, file a geological report, and disclose detailed information. The costs engendered by these (…)
On June 2, 2010, the Quebec Court of Appeal confirmed the Superior Court’s decision, which dismissed the insured’s action in warranty against his liability insurer under his home owner’s policy. The insured alleged that the purchasers’ claim for reducing the purchase price due to a hidden defect was (…)
On July 29, 2010, the Supreme Court of Canada rendered three judgments in which five of the nine judges declared that grievance arbitrators have jurisdiction to decide whether employees who do not have job security and grievance rights under a collective agreement may file grievances based on (…)
On May 3, 2010, Justice Clément Gascon of the Superior Court rendered an interesting decision in the context of a motion for authorization of the sale of assets in connection with a restructuring under the Companies' Creditors Arrangement Act.More specifically, the Court considered the fairness of (…)