News & Analysis as of

Canada Subsidiaries

Dorsey & Whitney LLP

SEC Staff Provides Welcome Guidance to Resource Extraction Issuers

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As discussed in our January 10, 2024 webinar, new SEC rules require resource extraction issuers that file reports with the SEC to file a Form SD within 270 days after each fiscal year end to report their payments to the U.S....more

Eversheds Sutherland (US) LLP

Getting over the starting line: How multi-entity organizational structures can become a barrier to Chapter 15 relief

Chapter 15 of the Bankruptcy Code provides a valuable tool for non-US entities going through foreign insolvency proceedings when they have assets located in the United States. Chapter 15 can protect the value of US assets by...more

Stikeman Elliott LLP

Public Safety Canada Updates Guidance on Forced and Child Labour Reporting

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On March 5, 2024, Public Safety Canada made changes to the guidance on reporting requirements (“Guidance”) under the Fighting Against Forced Labour and Child Labour in Supply Chains Act, S.C. 2023, c. 9 (“the Act”) revising...more

Dorsey & Whitney LLP

The Corporate Transparency Act: Are You Ready?

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On January 1, 2024, new direct reporting requirements to the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of the Treasury, became effective – known as the Corporate Transparency...more

Dorsey & Whitney LLP

Initial Guidance for New U.S. Excise Tax on Stock Repurchase Transactions: IRS Substantially Expands Scope of Applicable Canadian...

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In our blog post dated August 22, 2022, we discussed the one percent (1%) excise tax on certain stock repurchase transactions by certain publicly traded corporations enacted as part of the Inflation Reduction Act of 2022 (the...more

King & Spalding

Energy Newsletter - March 2018

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Good news at last for the development of offshore wind projects in France - While France had launched in 2011 a very ambitious offshore wind farm development program, aiming to reach 6 GMW of wind turbine installations at...more

Dorsey & Whitney LLP

Common U.S. Tax Withholding and Reporting Errors with Respect to Certain RSUs

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A Canadian company (the employer) historically has not issued equity-based awards to employees of its U.S. subsidiaries, but it now is considering doing so. Past posts have addressed potential U.S. income tax pitfalls and the...more

Dorsey & Whitney LLP

Loans to U.S. Subsidiaries Should Be Carefully Structured and Documented to Obtain U.S. Tax Benefits

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Canadian companies should carefully structure and document loans and advances to their U.S. subsidiaries. If loans to U.S. subsidiaries are not properly structured and documented, such loans may be recharacterized as equity...more

Bennett Jones LLP

Personal Liability Under Canada's Anti-Spam Law

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Under Canada's Anti-Spam Law (CASL) not only may a corporation that fails to comply be liable to pay a monetary penalty but personal liability may also arise. Section 31 provides that "An officer, director, agent or mandatary...more

Dorsey & Whitney LLP

Cross-Border Loan Transactions: Supplementing Canadian Law Governed Loan Documents with Collateral and Guaranty Documents Governed...

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Many cross-border loan transactions involve subsidiaries that are organized in the United States and/or U.S. based collateral. To the extent that the underlying loan is made to a Canadian borrower by a Canadian lender, these...more

Bennett Jones LLP

The Corporate Veil Matters

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In two related decisions, the Ontario Court has said, resoundingly, that it will respect the corporate veil, even for complicated corporate groups with numerous subsidiaries. Both decisions involve the enforcement of foreign...more

Blake, Cassels & Graydon LLP

Chinese Companies Transacting in Canada — Deal’s Closed: Now What?

When Chinese and Canadian companies come together, whether it’s through a merger, joint venture or another arrangement where cultures will be meshed, tackling the cultural differences is critical. Culture isn’t about...more

Blake, Cassels & Graydon LLP

Attention All Canadians Who Own, Control U.K. Subsidiaries: U.K. Government Implements PSC Register

The U.K. government recently enacted amendments to the U.K. Companies Act 2006, which requires non-listed U.K. companies and limited liability partnerships to maintain and file a register of people with significant control...more

Bennett Jones LLP

Ontario Court Follows Juliar and Allows Rectification of a Series of Transactions

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Given the Supreme Court’s recent granting of leave to appeal in the Jean Coutu case, which I blogged about earlier (Supreme Court of Canada to Hear Tax Rectification Case), the Ontario Court of Justice’s decision to follow...more

Bennett Jones LLP

Supreme Court Declares Canadian Corporations may be Liable for Acts of Foreign Affiliates

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In a just-released decision, Chevron Corp v Yaiguaje, 2015 SCC 42, the Supreme Court of Canada held that Canadian courts have jurisdiction to decide whether a foreign judgment can be enforced in Ontario against either or both...more

Blake, Cassels & Graydon LLP

CanaSea Group: Full and Fair Disclosure Required in Ex Parte CCAA Applications

Applicants who seek ex parte relief under the Companies’ Creditors Arrangement Act (CCAA) have an obligation to make full and fair disclosure of all material facts to the court. ...more

Bilzin Sumberg

The Real Tax Benefits of Inverting to Canada

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On August 26, Burger King announced that it entered into an agreement to acquire Tim Hortons, Inc., the Canadian coffee-and-doughnut chain, in a transaction that will be structured as an “inversion” (i.e., Burger King will...more

Foley Hoag LLP - Global Business and Human...

Yaiguaje v. Chevron: Blurring the Lines between Parents and Subsidiaries in Ontario

A recent ruling by Ontario’s highest court clarifying the law governing the enforcement of foreign judgments may turn Canada’s most populous province into an attractive forum for plaintiffs seeking to collect on judgments...more

Foley Hoag LLP - Global Business and Human...

ATS of the North? Canadian Court Allows Suit to Continue for Human Rights Abuses Committed Abroad

The Superior Court of Justice of Ontario’s recent ruling in the matters of Choc v. Hudbay Minerals Inc., Caal Caal v. Hudbay Minerals Inc., and German Chub Choc v. Hudbay Minerals has signaled a willingness by Canadian courts...more

Bennett Jones LLP

A Warning for Canadian Corporations with Foreign Subsidiaries

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On July 22, 2013, the Ontario Superior Court of Justice handed down its highly anticipated decision in Choc v Hudbay Minerals Inc., 2013 ONSC 1414. Hudbay serves as a significant warning for Canadian corporations operating in...more

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