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Inside Internal Controls

News and discussion on implementing risk management

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Author Archive - McCarthy Tétrault LLP

McCarthy Tétrault is a Canadian law firm that delivers integrated business law, litigation services, tax law, real property law, labour and employment law nationally and globally. McCarthy publishes a series of blogs to share information with companies to help them comply and manage their businesses. On the Inside Internal Controls blog we will share some of those blog posts sharing their expertise among others, in the areas of Competition/Anti-trust, Corporate and Commercial Law, Intellectual Property, Privacy, Environmental Law, Technology and Litigation. Read more here

Insolvency amendments now in force under the BIA and CCAA

Extensive amendments to the Bankruptcy and Insolvency Act and Companies’ Creditors Arrangement Act coming into force on November 1, 2019 through Bill C-97 will have a significant effect on certain aspects of insolvency proceedings commenced after that date.

 

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When it rains, it pours – Supreme Court of Canada allows umbrella purchaser claims

Umbrella purchasers are persons who purchased a product that was neither manufactured nor supplied by the cartel members.

 

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Cryptocurrency taxation update

On May 17, 2019, the Department of Finance released proposals to amend the Excise Tax Act (Canada) to treat certain virtual currency as a financial instrument for GST/HST purposes.

 

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When copyright in a work transfers to the Crown: Keatley v. Teranet

When does copyright transfer to the Crown under the Copyright Act? The Supreme Court clarified this in a landmark ruling released earlier today in Keatley Surveying Ltd. v. Teranet Inc., 2019 SCC 43, authoritatively interpreting Section 12 of the Act.

 

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Competition Bureau reinforces its focus on non-notifiable transactions

In a recent news release, the Competition Bureau made official its intention to increase the resources it devotes to the identification and review of non-notifiable merger transactions.

 

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Keeping things in context: B.C. Court of Appeal considers the roles of context and public debate in defamation cases

The B.C. Court of Appeal’s recent decision in Northwest Organics, Limited Partnership v. Fandrich demonstrates the importance of keeping things in context when determining whether an allegedly defamatory statement has a defamatory meaning.

 

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Alberta Court of Appeal confirms super-priority status of restructuring charges

There were conflicting decisions from Nova Scotia (Rosedale) and Alberta (Canada North) on whether it was possible for CCAA and BIA created super-priority claims to rank senior to the Crown’s deemed trust claims under the fiscal statutes.

 

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Post-filing suppliers do not implicitly benefit from any priority on the proceeds of sales of assets in CCAA proceedings

The Québec Court of Appeal confirmed that unpaid post-filing suppliers, which had neither sought a court-ordered charge to secure their post-filing claims nor availed themselves of their right to stop supplying goods or services to the debtor, cannot claim an implicit priority on the proceeds of sales of assets in proceedings under the Companies’ Creditors Arrangement Act proceedings.

 

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Regulations for cannabis edibles, extracts and topicals to take effect in October 2019

On June 14, 2019, the Government of Canada announced its final amendments to the Cannabis Regulations (the “Regulations”), which set the rules for the production and sale of cannabis edibles, extracts and topicals – the three new classes of cannabis products that will be legal for recreational use in Canada later this year.

 

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Efficiencies in merger reviews: Competition Bureau issues draft model timing agreement

On July 16, 2019, the Competition Bureau (Bureau) issued a draft model timing agreement for use in the review of unconsummated mergers where the parties intend to rely on the efficiencies defence under section 96 of Canada’s Competition Act (Act).

 

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Legal considerations in tech lending

With a booking tech industry in Canada, growing technology companies need capital and, as a result, there has been growth in financing tech enterprises.

 

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FATF issues guidance on virtual assets

FATF issues guidance on virtual assets

 

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The Ontario Court of Appeal determines when it is appropriate to vest out a royalty interest as part of an insolvency proceeding

Ontario’s highest court has created a framework for determining when it is appropriate for courts to approve sales and vest out interests in assets in the context of insolvency proceedings. This has given resource extraction industries and insolvency practitioners some much needed clarity on how to navigate situations when assets subject to encumbrances and other interests are being sold, especially when land subject to a royalty interest is involved.

 

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Final amending regulations issued under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act

anti-money laundering

On July 10, 2019, final amending regulations were issued amending each of the existing regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

 

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Deceptive marketing in the spotlight: Ticketmaster to pay Competition Bureau penalty of $4.5 million

In a recent article, the Competition Bureau’s focus on high-impact, consumer-focused digital economy investigations, including specifically investigations into drip pricing practices was highlighted. On June 27, 2019, the Bureau announced that its investigation into such practices by Ticketmaster had concluded with a consent agreement.

 

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