Banking, Bankruptcy & Insolvency
-
May 16, 2025
Competition Bureau releases 2025-26 annual plan, builds on legislative changes
The Competition Bureau has released its annual plan for 2025-26, saying it will continue to build on previous legislative changes aimed at enhancing competition, especially in the face of “rapid shifts in trade, market dynamics and technology.”
-
May 16, 2025
Federal Court extends deadlines for immigration JRs due to surging cases, inadequate gov’t funding
Contending with far too many immigration cases for its tight budget, the Federal Court this week extended by 45 days its regulation 30-day deadlines for litigants to perfect their applications for leave and judicial review of immigration decisions (ALJRs). Why? Because the registry’s beleaguered staff simply can’t keep up, and now often needs weeks rather than days to intake and process the ALJRs — which have more than quadrupled the average volume the court experienced over the five years immediately preceding the 2020 COVID-19 pandemic.
-
May 16, 2025
Surrey bookkeeper sentenced for nearly $1 million in GST/HST evasion
A Vancouver hotel bookkeeper who masterminded a goods and services tax evasion scheme worth almost $1 million has received a conditional sentence of two years less a day and two years’ probation, the Canada Revenue Agency (CRA) has announced.
-
May 16, 2025
Ontario budget includes $5 billion support fund, tax deferrals for businesses amid U.S. tariffs
Ontario’s 2025 budget includes a $5 billion “Protecting Ontario Account” and a suite of tax deferral measures aimed at supporting businesses affected by recent U.S. tariffs.
-
May 14, 2025
New federal Cabinet ministers talk tax cuts, lowering trade barriers, work-life balance and Gaza
Newly minted federal Cabinet ministers spoke for the first time about their portfolios with Hill media on May 14, as Prime Minister Mark Carney vowed that the Liberals’ promised “middle-class” tax cut will be in place by July 1, 2025, and Finance and National Revenue Minister François-Philippe Champagne disclosed that the minority Liberal government has no plans for a federal budget this year — but intends to deliver an economic statement on an unspecified date in fall 2025.
-
May 13, 2025
New Carney Liberal Cabinet puts many lawyers on front benches in critical federal leadership roles
Lawyers who were key Cabinet members in Justin Trudeau's erstwhile minority Liberal government have assumed dominant roles in Prime Minister Mark Carney's new 29-member Liberal Cabinet.
-
May 09, 2025
LSO announces three candidates for treasurer
The Law Society of Ontario has announced that three candidates — Murray Klippenstein, Stephen Rotstein and incumbent Peter Wardle — have been nominated for the role of treasurer, with the election set for June 18.
-
May 09, 2025
Ontario Superior Court upholds Capital Markets Tribunal’s ruling in real estate investment fraud
An Ontario Superior Court panel has upheld a $1-million penalty for a now defunct Markham, Ont., real estate firm and its CEO who defrauded investors in a Richmond Hill, Ont., housing development of an estimated $10 million.
-
May 08, 2025
Ontario court sets aside undervalued pre-bankruptcy property interest transfer
The Ontario Superior Court has voided a pre-bankruptcy property transfer between related parties as a “transfer at undervalue,” rejecting the recipient’s claim to a constructive trust over the transferor’s interest in the property.
-
May 07, 2025
Alberta court confirms CCAA power to release directors from excise tax liability
Courts have authority under the Companies’ Creditors Arrangement Act (CCAA) to release corporate directors from personal liability for unpaid excise taxes, the Alberta Court of King’s Bench has held.