The International Centre for Settlement of Investment Disputes – Its Time Has Come
Canada’s ratification of the Convention on the Settlement of Investment Disputes between States and Nationals of other States (the “Convention”) has been a long time coming. Since signing the Convention in 2006 and passing implementing legislation in 2008 that has yet to come into force, Canada has made no further progress towards ensuring that the International Centre for Settlement of Investment Disputes (ICSID) is an enforceable option for Canadian businesses investing abroad. Why is the ICSID important? When Bill C-53, the predecessor to Bill C-9, An Act to implement the Convention on the Settlement of Investment Disputes between States and Nationals ... [more]
BCCA strikes down non-disclosure provision of Securities Act
Aggregate Assessment of Damages Allows Certification of Conspiracy Class Actions, Courts Hold
In two recent decisions, the Ontario Superior Court and the British Columbia Court of Appeal relied on the aggregate damages provisions of the Class Proceedings Act in their respective provinces to certify class actions seeking damages for alleged conspiracies to fix prices for hydrogen peroxide and DRAM memory chips. In doing this, both courts side-stepped the requirement in the aggregate damages provisions that liability must be proved before damages can be assessed in the aggregate. A close examination of the decisions suggests, however, that the courts have in effect done away with this statutory requirement. [more]
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