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HTMLOSFI Issues Revised Capital Requirements for Property and Casualty Insurers
Ana Badour, Nancy J. Carroll, Frédéric Cotnoir, Barry J. Ryan; McCarthy Tétrault LLP;
Legal Alert/Article
October 9, 2014, previously published on October 7, 2014
On September 24, 2014, the Office of the Superintendent of Financial Institutions (OSFI) issued the revised Minimum Capital Test Guideline (Guideline) setting forth more robust risk-based capital requirements applicable to federally regulated property and casualty insurance companies (P&C Insurers)...

 

HTMLQuebec Introduces An Act respecting the Société du Plan Nord
Daniel Bénay, Louis-Nicolas Boulanger, Damian Marczuk; McCarthy Tétrault LLP;
Legal Alert/Article
October 9, 2014, previously published on October 3, 2014
Quebec has introduced legislation to create the Société du Plan Nord (Company), the Crown corporation which will coordinate and contribute to the implementation of the government’s policy directions relating to the Plan Nord (or Northern Plan), the Government-led strategy for...

 

HTMLA Rare Decertification Decision from the BCCA Stands: No Leave to Appeal Wakelam
Jill Yates; McCarthy Tétrault LLP;
Legal Alert/Article
October 8, 2014, previously published on September 5, 2014
The Supreme Court of Canada yesterday refused the plaintiff’s application for leave to appeal the British Columbia Court of Appeal’s decertification decision in Wakelam v. Wyeth et al. Wakelam is a claim against various manufacturers of children’s cough and cold medication for...

 

HTMLSCC Maintains Permissive View of Quebec Class Actions and confirms the Consumer Protection Act applies to Bank Conversion Charges
Shaun Emery Finn; McCarthy Tétrault LLP;
Legal Alert/Article
October 8, 2014, previously published on September 22, 2014
In Bank of Montreal v. Marcotte, 2014 SCC 55, the Supreme Court dismissed appeals brought by various banks contesting the applicability of the Quebec Consumer Protection Act (“CPA”) to conversion charges charged by banks of foreign currency transactions. The Court concluded that certain...

 

HTMLOSC Second Guesses IIROC on Marc McQuillen Settlement Agreement and Northern Securities Penalties
Cristian O. Blidariu, Rene R. Sorell; McCarthy Tétrault LLP;
Legal Alert/Article
October 8, 2014, previously published on October 7, 2014
As we discussed in a previous post, the Ontario Securities Commission (OSC) rarely exercises its broad statutory discretion to interfere with and remake IIROC decisions. Last month, the OSC departed from this approach on two separate occasions.

 

HTMLPreliminary Dismissal of Meritless Case: A Second Message of Encouragement from the Supreme Court
Pierre-Jérôme Bouchard; McCarthy Tétrault LLP;
Legal Alert/Article
October 7, 2014, previously published on October 2, 2014
The Supreme Court of Canada recently released an important decision regarding the preliminary dismissal of cases, this time through the doctrine of stare decisis, which dictates that a precedent case rendered by a higher court binds a lower court’s decision. In Attorney General of Canada v....

 

HTMLCanada and the EU Successfully Conclude CETA: What It Means to the Pharmaceutical Industry
Steven Mason, Sanjaya Mendis; McCarthy Tétrault LLP;
Legal Alert/Article
October 7, 2014, previously published on October 2, 2014
On September 26, 2014, Prime Minister Harper announced that Canada and the European Union have successfully concluded negotiations on a new trade agreement, the Comprehensive Economic and Trade Agreement (CETA) that was five years in the making, and publicly released the consolidated text of the...

 

HTMLKeeping It Enforceable - The Essential Terms of a Purchase Contract
Cameron Whyte; McCarthy Tétrault LLP;
Legal Alert/Article
October 3, 2014, previously published on September 29, 2014
It is not uncommon for parties to enter into contracts for the purchase and sale of real estate that contain defects which may affect their enforceability.

 

HTMLBritish Columbia Supreme Court Breaks New Ground on Contaminated Sites
Paul R. Cassidy, Nicholas Hughes, Selina Lee-Andersen, Monika A. Sawicka; McCarthy Tétrault LLP;
Legal Alert/Article
September 26, 2014, previously published on September 17, 2014
On August 25, 2014, the British Columbia Supreme Court (BCSC) issued reasons in J.I. Properties Inc. v. PPG Architectural Coatings Canada Inc., 2014 BCSC 1619. The case involved an action by J.I. Properties Inc. (JIP), a current owner of a contaminated site, to recover approximately $5.3 million in...

 

HTMLSCC Maintains Permissive View of Quebec Class Actions and confirms the Consumer Protection Act applies to Bank Conversion Charges
Shaun Emery Finn; McCarthy Tétrault LLP;
Legal Alert/Article
September 26, 2014, previously published on September 22, 2014
In Bank of Montreal v. Marcotte, 2014 SCC 55, the Supreme Court dismissed appeals brought by various banks contesting the applicability of the Quebec Consumer Protection Act (“CPA”) to conversion charges charged by banks of foreign currency transactions. The Court concluded that certain...

 


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