Supreme Court of Canada agrees to hear appeal of decision allowing creditors to recover from the directing mind of a bankrupt corporation

In Ernst & Young Inc. v Aquino (2022 ONCA 202), the Ontario Court of Appeal upheld a lower court’s ruling that the controlling mind of a bankrupt corporation can be held liable to the corporation’s creditors for money taken from the corporation by fraud before the corporation became insolvent. The Supreme Court has recently granted leave to appeal ([2022] SCCA No 131), meaning that further clarification will be coming about the extent to which creditors can seek recovery from the controlling minds of a corporation once that corporation is subject to proceedings under the Bankruptcy and Insolvency Act (“BIA”). The ... [more]
Rogers and Shaw merger cleared by Competition Tribunal
Court of Appeal Confirms No Duty to Disclose Beneficiary Changes
- Ontario’s top court rejects retroactive application of Insurance Act amendment to claim arising from cannabis-caused fire
- Superior Court refuses leave to securities class action based on the difference between “Material Facts” and “Material Changes”
- Ontario’s top court reinstates securities class action against Cannabis company
- The Private Competition Enforcement Review, 15th Edition
Developments
MFDA and IIROC Members vote to amalgamate and form “New SRO”
In a vote held on September 29, 2022, members of the Mutual Fund Dealers Association ... [more]
Supreme Court of Canada clarifies courts have an obligation to follow decisions of courts at the same level in most cases
The Supreme Court of Canada released a decision today (R. v. Sullivan 2022 SCC 19) ... [more]
Where’s the beef? Class action alleges price-fixing, restricting supply
A Quebec class action is being brought against four beef companies that are alleged to ... [more]
Court of Appeal for Ontario to resume In-Person Hearings
Yesterday, the Court of Appeal for Ontario announced that it will begin hearing appeals and ... [more]
More Developments
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