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Canada Loans

Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

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As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Stikeman Elliott LLP

Real Estate in Canada – Law and Practice

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1. General - 1.1 Main Sources of Law - Under Canada’s federal constitution, laws relating to real estate fall almost exclusively within provincial jurisdiction. Specifically, each Canadian province enacts its own...more

Bennett Jones LLP

Government of Canada Unveils Details Regarding New Federal Indigenous Loan Guarantee Program

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On April 16, 2024, the Canadian Government released the 2024 federal budget, including details on the much-anticipated federal Indigenous Loan Guarantee Program (ILG Program). First announced in the government's 2023 Fall...more

Cadwalader, Wickersham & Taft LLP

Benchmarks Beyond January 2024 - 2024 Update on the Cessation of CDOR and SIBOR

As we kick off 2024, the focus on the unavailability of certain benchmarks continues on. To refresh, we have already seen the benchmark for US Dollars generally replaced with the Secured Overnight Financing rate as...more

Stikeman Elliott LLP

Canada’s 2023 Fall Economic Statement

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On November 21, 2023, the Canadian Department of Finance (“Finance”) released its 2023 Fall Economic Statement (“FES 2023”). The focus of FES 2023 was on affordability measures, particularly with respect to housing. New...more

Bennett Jones LLP

Ontario Court of Appeal Case Upholds Closing Payment Direction Against Lender

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Borrowers and lenders negotiating payment directions on the closing of loan transactions should take heed of the recent decision of the Ontario Court of Appeal in Kemeny v. Callidus Capital Corporation, 2023 ONCA 76....more

Bennett Jones LLP

AIOC Program Guidelines Released: Loan Guarantees and Capacity Grants

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On May 4, 2020, the Alberta Indigenous Opportunities Corporation (AIOC) released its program guidelines by which it will evaluate investment proposals made by Indigenous communities (ICs). We provided an initial overview of...more

Robins Kaplan LLP

Financial Daily Dose 1.30.2020 | Top Story: Facebook Pays $550 Million to Resolve Privacy Class Action Over Use of Facial...

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Facebook has agreed to pay $550 million to resolve a class-action lawsuit claiming that Zuck & Co.’s use of facial recognition technology violated Illinois’ biometric privacy law. Though the settlement is little more than “a...more

Blake, Cassels & Graydon LLP

Lending Market Sets Sights on Sustainability Linked Loans

Building on the internationally recognized Green Loan Principles (GLPs) adopted in 2018, the Loan Syndications and Trading Association (LSTA), the Loan Market Association (LMA) and the Asia Pacific Loan Market Association...more

Blake, Cassels & Graydon LLP

Lottery Winner Loan Case Sets Precedent, B.C. Court Reforms Centuries-Old Consideration Doctrine

In its May 18, 2018 decision, Rosas v. Toca (Rosas), the British Columbia Court of Appeal (Court of Appeal) permitted a contract to be varied without the exchange of fresh consideration. If adopted more broadly, Rosas may...more

Blake, Cassels & Graydon LLP

Canadian Investors Take Note: Budding Green Loan Market Set to Ramp Up in 2018

Green bonds have been steadily gaining in popularity, becoming a high-profile instrument in capital markets and now green loans are set to ramp up in 2018. Green loans are getting their own voluntary recommended guidelines...more

Bennett Jones LLP

When Is a Loan “Green”?

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New international guidelines on environmental sustainability adopted from green bonds allow lenders and borrowers to designate “green loans" - More than US $150 billion in “green bonds”—bonds that fund projects that...more

Blake, Cassels & Graydon LLP

Ontario Court Addresses Debt Re-Characterization Argument in CCAA Proceeding

On February 29, 2016, the Ontario Superior Court of Justice released a decision in the ongoing insolvency proceeding of U. S. Steel Canada Inc. (USSC). Two principal issues were addressed by the Court. First, whether amounts...more

Blake, Cassels & Graydon LLP

“High-Cost Credit” Consumer Lenders Face New Laws in Manitoba

New laws to regulate consumer loans and lines of credit that meet the definition of a “high-cost credit product” will come into effect in Manitoba on September 1, 2016. After this date, a consumer lender who offers, arranges...more

Bennett Jones LLP

Do You Issue Loans for Less than $5000? The Ontario Government Wants to Call you a Payday Lender

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Businesses that issue loans to customers for $5,000 or less should be aware that the Ontario Ministry of Consumer Services (MCS) is proposing an amendment to the regulations under the Payday Loans Act, 2008 which, read...more

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