We previously wrote about the doctrine of corporate attribution in the context of bankruptcy in Ernst & Young Inc. v. Aquino. This decision was followed by another decision of the Court of Appeal in Golden Oaks Enterprises Inc. v. Scott, which also concerned bankruptcy. One of the primary issues before the Court of Appeal in […]
Category Archives: Complex Corporate Commercial Litigation
Questions About Limitation Period Issue Raised After Summary Judgment Motion Dismissed
In the fast-paced world of commercial litigation, timing is everything. Missed deadlines can have dire consequences for all parties, including the dismissal of a case. One of the most common pitfalls in commercial litigation is the applicable limitation periods (the time frame for legal action to commence). This blog post will delve into the intricacies […]
Enforceability of Non-Competition Clauses Within Business Sales
It is common for an agreement for the purchase and sale of a business to contain terms restricting the future ability of the vendor to compete with the company that is sold. The intent of such a restrictive covenant is generally to protect the goodwill associated with the business. This spring, Ontario’s Court of Appeal […]
The Doctrine of Part Performance in Land Agreements
Under Ontario’s Statute of Frauds, verbal agreements respecting land are deemed unenforceable. As the Superior Court of Justice commented in Van, et al. v. Qureshi, et al., the statute’s purpose was to prevent “fraudulent allegations of promises that had never been made, by requiring a formality in certain classes of agreement.” The Ontario Court of […]
Winding-Up a Corporation on “Just and Equitable” Grounds
Ontario’s Business Corporations Act provides multiple ways a court may order the winding-up of a corporation. One common route for a court-ordered winding-up is a finding of oppression under section 248. However, other sections can also be used to force a corporation to be shut down by the courts, such as section 207(1)(b)(iv). Section 207(1)(b)(iv) […]
When Will A Plaintiff’s Delays Lead To Dismissal Of Its Claim?
It goes without saying that complex litigation matters can be a time-consuming process. Depending on its complexity, it can take years for a matter to reach final resolution through the courts. In some situations, however, delays may be the fault of a party to the litigation. We have previously written about the legal consequences of […]
Court Certifies Class Action Proceeding Against Trading Platform Binance
We have previously written about the cryptocurrency asset trading platform Binance, which is the subject of an Ontario Securities Commission investigation. A certification motion was recently brought against the Binance group of companies on behalf of purchasers of “cryptocurrency derivative products.” In Lochan v. Binance Holdings Limited, the Superior Court of Justice approved class action […]
Supreme Court of Canada Considers Fraud in the Context of Letters of Credit
We have previously written about letters of credit, which are common to financing transactions and are an essential form of security in the banking world. The Supreme Court of Canada recently revisited the law surrounding such instruments, particularly how fraud can impact their enforceability. The case of Eurobank Ergasias S.A. v. Bombardier Inc. concerned a […]
Can A Franchisee Rescind A Franchise Agreement For Deficient Disclosure?
In Ontario, franchise agreements are subject to the requirements of the Arthur Wishart Act (Franchise Disclosure), 2000 (the “Act”). The Act imposes a “duty of fair dealing” on the parties to such an agreement and grants franchisees the right to form an organization of franchisees. One of the most significant aspects of the Act is […]
The Legal Effect of Requiring Payment of a Criminal Rate of Interest in a Contract
Section 347 of the Criminal Code makes it a criminal offence for someone to enter into an agreement or arrangement to receive interest at a “criminal rate” or to receive a payment or partial payment of interest at that rate. In turn, a “criminal rate” is “an effective annual rate of interest calculated in accordance […]