The latest dispute in the asset deal between Spacebridge Inc. and Baylin Technologies Inc. is a stark warning to anyone delivering a notice of indemnification claim against funds held in escrow....more
As a recent decision by the Australian Takeovers Panel (Panel) has confirmed, Canadian issuers looking to complete a merger or strategic transaction with an Australian counterparty in a Canadian plan of arrangement, subject...more
CSA Extends Deadline to Delist Stablecoins -
The Canadian Securities Administrators (CSA) has once again extended the deadline for registered crypto-trading platforms to address trading in value referenced crypto assets...more
In OneMove Capital Corporation v Dye & Durham Limited, 2024 ONSC 5114 (OneMove), Justice Penny of the Commercial List division of the Ontario Superior Court concluded that shareholders may not submit a proposal under s. 99...more
In our 2024 edition of Looking Forward, we review notable class action developments from the past year and consider what recent trends in the law might tell us about what to expect in the years ahead....more
It was another active year in securities class actions, with appellate courts demonstrating renewed interest in secondary market misrepresentation claims. In one such decision from February 2024, Drywall Acoustic Lathing and...more
In ruling that a securities regulatory authority's disgorgement orders (a sanction stemming from misconduct) survive a bankruptcy discharge while its administrative penalties do not, the Supreme Court of Canada endorsed the...more
Exclusion clauses are a common feature of agreements of purchase and sale and other commercial contracts. While often subject to negotiation, parties sometimes proceed with standard form exclusion clauses that may inject...more
In Lochan v Binance Holdings Limited, 2023 ONSC 6714 (Binance), the Ontario Superior Court dismissed a motion brought by Binance Holdings Limited (Binance), the world’s largest crypto trading platform, to stay a proposed...more
In Buduchnist Credit Union Limited v. 2321197 Ontario Inc., 2024 ONCA 57 (Buduchnist), the Court of Appeal for Ontario has affirmed that superior courts have broad and flexible jurisdiction to address breaches of...more
In a first-of-its-kind decision, R. v. Bykovets, 2024 SCC 6 (Bykovets), the Supreme Court of Canada has adopted a broad view of internet privacy—at least in the criminal and public authority context—finding that internet...more
In ruling that the Ontario government is not required to turn over Cabinet mandate letters, the Supreme Court of Canada has adopted a broad and expansive view of Cabinet confidentiality. The Supreme Court's decision brings...more
In an active year in securities class actions, Canadian courts have provided new guidance and clarity in a number of important areas. Below we briefly review a number of significant decisions in Canadian securities class...more
We begin with an update on a trilogy of privacy class actions appeals in which plaintiffs sought, unsuccessfully, to expand the tort of intrusion upon seclusion.
Next, we canvass the various approaches of Ontario courts...more
In Frayce v. BMO Investor Line Inc. et al, 2023 ONSC 16 [Frayce], the Ontario Superior of Justice refused to certify a class proceeding brought by aggrieved investors to address the controversial practice of "trailing...more
Class action proceedings are routinely characterized as "procedural" in nature. However, that framing obscures the fact that class actions—and interim proceedings within class actions—have very real consequences for class...more
In November 2020, the Supreme Court of Canada released its decision in 1688782 Ontario Inc. v Maple Leaf Foods Inc. This is an important decision clarifying the analytical approach to the duty of care analysis in negligence...more
Instability and uncertainty were the two constants in 2020. The COVID-19 pandemic uprooted social norms and challenged businesses. The long range impact of that instability and uncertainty remains to be seen. For different...more
The Supreme Court of Canada has clarified the scope of manufacturers’ potential liability under the law of negligence to the retailers of their products for “pure economic losses”—lost profits, lost sales, and reputational...more
The Ontario Securities Commission (OSC) has traditionally been regarded by the Ontario Divisional Court as a specialized administrative tribunal entitled to significant deference on appeal and judicial review proceedings. On...more
In Wright v Horizons ETFS Management (Canada) Inc., 2020 ONCA 337, the Court of Appeal for Ontario has opened the door to investor class actions related to exchange-traded funds (ETFs), holding that the creator/manager of an...more
In Ontario Securities Commission v. Tiffin, 2020 ONCA 217, the Court of Appeal for Ontario has adopted a broad approach to what constitutes a "security" within the meaning of the Securities Act, R.S.O. 1990 c. S. 5. In...more