In the case of Royal Bank of Canada v. Boussoulas, the Ontario Superior Court declined RBC’s request to appoint an interim receiver and grant a Mareva injunction against the defendants, who, it was alleged, were continuing their business through a succession of companies in order to avoid repaying RBC loans.

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A judge of the Ontario Superior Court of Justice’s Commercial List recently approved a plan of arrangement that eliminated the dual class share structure at Magna International Inc. (“Magna”) and in the process provided a large payout to its former controlling shareholder. Magna is in the business of developing and manufacturing automotive systems, components, and [...]

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In a judgment released last July in Smith v. Inco. the Ontario Superior Court recently decided Ontario’s first-ever environmental tort class action judgment by awarding an estimated $36 million to approximately 7,000 homeowners in the Port Colborne area of Ontario.  The defendant, Inco, was sued for the loss of property values suffered by class members [...]

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While the corporate oppression remedy is a broad remedy that can provide relief to a wide range of shareholders and certain other stakeholders harmed when a corporation is run contrary to their reasonable expectations, it will not provide relief to arm’s length contracting parties who later find that their contract does not give them the protection they want.

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Canada’s first class action alleging vertical price maintenance may have far reaching consequences for Canadian manufacturers and distributors.

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