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Mark Rasile

Financial Services Lawyer at Bennett Jones Toronto

Partner

Simon Grant

Financial Services & Regulatory Lawyer

Partner 

<a href="/People/R/Rasile-Mark">Mark Rasile</a>, Denise Bright, <a href="/sitecore/service/notfound.aspx?item=master%3a%7bD9F01CEE-FA3D-402A-91A9-1F1EBEDA2717%7d%40en">Yannick Beaudoin</a>, <a href="/People/G/Grant-Simon">Simon Grant</a>, <a href="/People/D/Dawson-Karen">Karen Dawson</a>, <a href="/People/S/Shimura-Noriko">Noriko Shimura</a> and <a href="/People/R/Rotchtin-David">David Rotchtin</a> offer an analysis on banking and finance in <a rel="noopener noreferrer" rel="noopener noreferrer" href="https://practiceguides.chambers.com/practice-guides/banking-finance-2023/canada" target="_blank">Chambers' Banking and Finance 2023 Practice Guide for Canada</a>. Addressing both law and practice and trends and developments, this guide offers detail regarding topics including the loan market, authorization, structuring and documentation, tax, guarantees and security, enforcement, bankruptcy and insolvency and project finance.

BANKING and FINANCE 2023 A Chambers Global Practice Guide Publication

Banking and Finance 2023: A Chambers Global Practice Guide Publication

Preet K. Gill

Insolvency & Restructuring Lawyer | Litigation & Transactions

Toronto Managing Partner

David S. Rotchtin

Banking & Lending Lawyer | Cross-Border

On May 11, 2021, Bill C-274, An Act to amend the Criminal Code (Criminal Code Interest Rate) received first reading in the House of Commons. The Bill proposes to amend the definitions of "criminal rate" and "interest" under section 347(2) and repeal section 347.1 which provides exemptions from the criminal interest restrictions in certain limited circumstances.

Significant Changes Proposed to the Criminal Interest Rate

Entering into a loan transaction that also has an equity component, such as the issuance of shares or warrants, has previously given rise to some concern that the loan could ultimately run afoul of the 60 percent criminal rate of interest. While this has widely been thought to be contrary to the intended purpose of the criminal interest provision (preventing loan-sharking), there has still been a risk that equity could be captured and valued as interest due to the broad definition and judicial interpretation of "interest" in that provision. However, that risk has been diminished by a decision of the Ontario Superior Court that was recently upheld by the Ontario Court of Appeal.<a name="_ftnref1" href="EditorPage.aspx?da=core&id=%7BC0D7EC62-565D-4439-A962-7EA9A20D1F96%7D&ed=FIELD1417702855&vs&la=en&fld=%7BAF364D18-3608-40E2-9704-4E0D72DB7598%7D&so&di=0&hdl=H1417702884&mo&pe=0&fbd=1#_ftn1"></a>

Equity Kickers and the Criminal Rate of Interest

The Enbridge Northern Gateway Project (Project) involves the construction of two pipelines running from near Edmonton, Alberta, to a new marine terminal in Kitimat, British Columbia. The west-flowing pipeline will carry petroleum for export, and the east-flowing pipeline will import condensate. Northern Gateway Pipelines Inc. (Northern) is seeking regulatory approval for the Project. Pursuant to environmental and energy legislation, a Joint Review Panel (JRP) has been established to review the Project and make a final decision on whether or not to approve it. For information and relevant documents, refer to “Enbridge Northern Gateway Project Joint Review Panel,” National Energy Board. Published in the Canada – Oil & Gas section of the Rocky Mountain Mineral Law Foundation's Mineral Law Newsletter, Volume 29, Number 1, 2012.

Community Hearings on Enbridge Northern Gateway Project Begin

Michelle F. Yung

Real Estate Lawyer at Bennett Jones Vancouver

Andrew L. Jeanrie

Real Estate & Municipal Law Lawyer | Development & Approvals

Nathalie Hunter Heighington

Associate at Bennett Jones Vancouver

Associate

Part II of this three-part series examines Build Canada Homes&rsquo; Investment Policy Framework, including its priorities, eligible housing projects and partnership models. It explores how project readiness, affordability, scale, modular construction and cross-sector collaboration may position commercial real estate proponents to participate in BCH initiatives.

Part II How Build Canada Homes

Part II How Build Canada Homes Works: Investment Framework, Eligibility and Partnerships

Kristopher R. Hanc

M&A and Capital Markets Lawyer

Christopher J. Doucet

Corporate & Mining Lawyer | M&A & Corporate Finance

Aidyn Bhatia

Lawyer at Bennett Jones Toronto

The Canadian Securities Administrators (CSA) has launched a broad consultation on modernizing the regulation of public companies, examining venture issuer status, financial reporting, resale restrictions, material change reporting and alignment with U.S. developments. The Consultation Paper includes a proposed qualified institutional purchaser exemption that could provide eligible reporting issuers with greater flexibility to raise capital without traditional resale hold periods. Stakeholders have until November 13, 2026, to submit comments.

CSA Publishes Sweeping Consultation on Modernizing the Regulation of Public Companies

Meg Tweedlie

Director, Student Talent

Samuel Judson

Commercial Real Estate Lawyer at Bennett Jones Toronto

Change of control provisions in commercial leases can create uncertainty for both landlords and tenants, particularly where terms such as &ldquo;control&rdquo; and &ldquo;effective control&rdquo; are undefined. This article examines the Canadian legal landscape, key case law and Section 23 of Ontario&rsquo;s Commercial Tenancies Act, and offers practical considerations for drafting and negotiating change of control provisions. It also highlights potential carve-outs and strategies to reduce ambiguity and the risk of future disputes.

change of Control of Commercial Tenants Drafting

Change of Control of Commercial Tenants: Drafting, Interpretation and Practical Considerations

Akhila Sandhu

Summer Student

Morgan Sutherland

Associate 

Michael C. Smith

Litigation Lawyer at Bennett Jones Toronto

The United Nations has adopted the first global regulatory framework for Automated Driving Systems, establishing safety, cybersecurity, testing and monitoring requirements for Level 3, 4 and 5 automated vehicles. This article examines the framework&rsquo;s implications for Canada, including how Transport Canada may incorporate the requirements into domestic vehicle safety standards and what manufacturers and suppliers should consider as regulation evolves.

First Global Regulatory Framework For Autonomous Vehicles

First Global Regulatory Framework For Autonomous Vehicles: Key Takeaways For Canada And The Auto Industry

Martin Ignasiak KC

Energy & Industrial Projects Lawyer

Head of Energy Regulatory

Michael P. Theroux KC

Commercial Litigation, Arbitration & Energy Litigation Lawyer

Brynne Harding

Litigation Lawyer at Bennett Jones Calgary

The Supreme Court of Canada has resolved one of the most consequential questions left open by Vavilov, and which has divided jurisprudence in lower courts since then&mdash;whether judicial review is constitutionally guaranteed or can be barred by privative clauses.

Big Implications for Appeals from Administrative Tribunals

The Supreme Court Settles the Constitutional Floor for Judicial Review in Democracy Watch v Canada

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Enbridge Northern Gateway Project Hearings Ongoing

From the Same Authors