Business & Corporate Law

This category contains 45 posts

More fallout from Norshield financial scandal

Nearly eight years after a high-flying hedge fund with ostensibly $1-billion in assets collapsed under the weight of a flurry of investor redemptions, the fallout from the Norshield Financial Group financial debacle continues unabated. Continue reading

Revenue Quebec condemned to pay $2 million in punitive damages

A Montreal businessman who was forced to shut down his business after Quebec tax authorities mishandled his case was awarded nearly $4 million, including a staggering $2 million in punitive damages, following a precedent-setting ruling by Quebec Superior Court. Continue reading

Quebec companies barred from bidding on public contracts have little chance of obtaining legal relief

Companies that have been barred from bidding on public contracts stand little chance of obtaining injunctive relief that would temporarily suspend a new law aimed at curbing corruption in the construction industry. Continue reading

Quebec Court of Appeal provides guidance over Anton Piller orders

Litigants who obtain evidence seized through Anton Piller orders, an extraordinary legal measure granted in exceptional circumstances, do not have an “automatic” right to review the material, according to a recent ruling by the Quebec Court of Appeal. Continue reading

Tug of war – Legal developments that could shape the Canadian labour landscape for years to come

When the final tally was counted, the labour movement could be forgiven for heaving a sigh of relief. The Senate this week amended, some say eviscerated, legislation passed by the House of Commons that would have given organized labour another sound reason to believe it is under siege. What follows is a look at legal developments that could shape the Canadian labour landscape for years to come. Continue reading

Tough new anti-corruption laws in the horizon

Canadian companies who paid little heed to anti-bribery compliance can no longer afford to be complacent following proposed amendments that will beef up Canada’s anti-corruption laws and bring it somewhat in line with jurisdictions such as the United States and the United Kingdom. Continue reading

Canada’s tough stance on dirty money expected to be expensive

New anti-money laundering regulations introduced to demonstrate Canada’s tough stance on dirty money to international authorities will require reporting entities to spend more money, resources, and time to be in compliance, according to experts. Continue reading

Limits placed on the power of Quebec’s securities regulator to impose gag orders

Days before the former head of Canada’s largest engineering firm was formally charged with fraud, SNC-Lavalin Group Inc. won a key legal battle against the provincial securities regulator. Continue reading

Class actions against financial institutions raises questions

Quebec’s business and legal community and consumer protection advocates are concerned over the impact of three related class action rulings by the Quebec Court of Appeal, with some fearing that motions seeking class action authorization will now be more easily granted while others are worried that consumers will pay the price following the court’s interpretation of what is included in the cost of credit… Continue reading

Investors delighted but insurers concerned

A ruling that ordered an insurance company to pay $460,000 to a Quebec couple after their financial advisor invested their retirement nest egg in promissory notes in scandal-plagued Montreal financial group Mount Real Corp. has raised questions over the scope of professional liability insurance coverage in the province… Continue reading

Worth noting

A look at some of the more interesting cases the Supreme Court of Canada will be tackling over the coming year.

Here is an overview of the issues at stake in the appointment of Justice Marc Nadon to the Supreme Court of Canada bench.

The cost of the federal government's contracted legal services ballooned to more than $460 million last year, up from $106.7 million in 2006.

Misappropriation of funds: The profession’s dirty little secret

“A lot of firms that had lawyers or law clerks or staff that commit fraud tend to indemnify clients and not report it -- it’s sort of the (profession’s) dirty little secret.”

A sad reminder that friendship and business do not always mix

“This case is a sad reminder that friendship and business do not always mix.” So begins a lengthy ruling by Quebec Superior Court Justice Geneviéve Marcotte recounting the sombre saga of a successful Montreal businessman, a former corporate lawyer and his wife.

Class actions create ethical minefields

Class action ethics, an issue barely broached by academic circles, the legal profession and even by regulatory authorities or bar associations, has now surfaced following a series of rulings that underscore the tension between the singular nature of class action litigation and the traditional position that ethical guidelines governing single plaintiff proceedings also apply to class actions.

Class action legal landscape in Canada is maturing

Class action lawsuits appear to be an increasingly pervasive force in today’s business world, with organizations of all stripes, from top publicly-traded companies to small regional enterprises, looking over their shoulders, anxiously watching an ever-evolving legal landscape to see where things are heading next.

Open data: The value of openness

“Open government, Government 2.0 and open data are very interrelated, and feed into each other. Having open data makes Government 2.0 initiatives more compelling, more valuable and more likely to succeed. They are both in response to technology, and both have the same motivation which is to be more transparent and interactive with its citizens through online mediums.”

Law firms coming to grips with retirement issues

The figures are stark. It is estimated that nearly 70 per cent of law firm partners are “baby boomers,” according to Hildebrandt International, an international legal consulting firm.

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Copyright © Luis Millan| Law in Quebec | All rights reserved | 2009

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