A recent decision out of the Alberta Court of Appeal found that as soon as a company handed over their investigative reports to regulators in connection with a pipeline incident, privilege over the reports was lost....more
Typically, pursuing fraudsters is an exercise in detective work, forensic analysis and a lot of circumstantial evidence. Rarely does a fraud come with a smoking gun or confession. Parties must cobble together evidence...more
On December 21, 2021, a panel of the Alberta Securities Commission (ASC) published its written decision in Re Bison Acquisition Corp., 2021 ABASC 107. The decision followed a July 2021 hearing and oral ruling on...more
A private M&A purchase agreement customarily includes extensive representations and warranties and indemnification provisions. Post-closing, if the buyer alleges a breach of those provisions claiming significant damages, and...more
Fraud continues to plague businesses and individuals in Canada and abroad, increasing at an alarming rate. Those involved in asset recovery frequently turn to the equitable doctrine of knowing assistance to catch "strangers"...more
Is the End in Sight?
On November 9, 2018, the Supreme Court of Canada (SCC) unanimously ruled that a proposed pan-Canadian securities regulator is constitutionally acceptable. The decision, Reference re Pan-Canadian...more
A recent decision of the Alberta Securities Commission appears to give short-sellers wide latitude to negatively comment on targets, and sets a potentially high burden on ASC Staff when seeking interim orders to address...more
On September 14, 2018, the Supreme Court of Canada (SCC) released its decision in Rogers Communications Inc v Voltage Pictures, LLC, 2018 SCC 38 confirming the test set out in Leahy for obtaining a Norwich order (consistently...more
The Alberta Securities Commission (ASC), the regulatory agency responsible for administering provincial securities laws in Alberta, announced last week that it would be following the lead of its Ontario and American...more
A recent decision by the Alberta Court of Appeal (ABCA) reminds us that counsel must take care to provide a balanced view of both sides and not overreach in their asks when seeking an ex parte application, lest the court set...more
The Alberta Securities Commission (ASC) announced its new Credit for Exemplary Cooperation in Enforcement Matters Policy (ASC Policy) on October 16, 2017. The ASC Policy sets out the benefits of cooperating with the ASC and...more
On Monday, May 8, 2017, the Finance Minister introduced Bill 13: Securities Amendment Act, 2017. As described to the media, and during First Reading, the Bill aims to strengthen investor protection by amending and updating...more
In two recent decisions, R v Peers, 2017 SCC 13 and R v Aitkens, 2017 SCC 14, the Supreme Court of Canada (SCC) held that those accused of securities law offences do not have the right to a trial by jury....more
An interesting set of questions arises from share purchase transactions regarding the existence of, and parties to, the solicitor-client privilege over the correspondence between the parent, subsidiary and corporate counsel....more