In discussing the level of specificity that the Personal Property Security Act (the “PPSA” or “Act”) demands, then New Brunswick Appellate Court Justice, Joseph Robertson, said it best when he candidly wrote at paragraph 67 of GMAC Leaseco Ltd. v. Moncton Motor Home & Sales Inc. (Trustee of) 2003 NBCA 26: The legislation lays down […]
It has been said that nothing in this world is certain, other than death and taxes. Whether any given tax is ‘certain’ can be debated (our tax team is here to help), but the Federal Court of Appeal has weighed in on the priority of certain tax claims in Toronto-Dominion Bank v. Canada, 2020 FCA […]
COVID-19’s impacts on our lives now include massive intrusions into the arrangements between borrowers and lenders. Customers have disappeared. Revenues have disappeared. But financial obligations remain. How can borrowers and lenders work together in these uncertain times to make the best of a bad situation?
Right of Distress “Distress”, when used in this context, means the seizure of someone’s property to secure the performance of a duty. A landlord’s right of distress is a useful self-help remedy that allows a landlord to enforce its rights against a delinquent tenant under certain circumstances. When performed properly, it allows the landlord to […]
Callidus Capital Corporation v. Her Majesty the Queen, 2018 SCC 47 (SCC) Callidus was a secured creditor of Cheese Factory Road Holdings Inc. Pursuant to a trust agreement, Cheese Factory held all funds received in trust for Callidus and remitted them to be applied to its debt. The amounts paid to Callidus under this arrangement […]
Whether you’re a general contractor, a subcontractor, or a supplier, this decision regarding the application of the Builders’ Lien Act is important for your business.
Under subsection 164(1) of the Income Tax Act, a corporation must file its tax return within three years of the end of the taxation year to be entitled to receive a tax refund, should one arise on assessment by the Canada Revenue Agency.
In the Nova Scotia case Witch’s Glen Gold Inc., Re, 2015 NSSC 93, the sole creditor, Steve Furlotte, brought an application pursuant to s. 43 of the Bankruptcy and Insolvency Act (BIA) seeking a bankruptcy order against the debtor Witch’s Glen Gold Inc. (“WGC”).