A Court may grant a Mareva order (sometimes referred to as a freezing order) when there is a risk that a defendant could move its assets out of the court’s reach, potentially leaving the plaintiff unable to collect damages. In Sherif Gerges Pharmacy Professional Corporation et al. v. Niam Pharmaceuticals Inc., the Ontario Superior
On July 31, 2024, the Supreme Court of Canada provided clarity regarding the treatment of administrative monetary penalties and disgorgement orders resulting from securities violations in Poonian v. British Columbia (Securities Commission).
Thalbinder Singh Poonian, Shallu Poonian and others contravened the market manipulation provision of British Columbia’s Securities Act and faced administrative penalties and disgorgement
On November 29, 2024, the Court of King’s Bench of Manitoba in WSIB Investments (Infrastructure) Pooled Fund Trust v. Plenary Group (Canada) Ltd., awarded over $259 million to the plaintiffs (an employee pension fund and injured workers fund). The defendant, a public infrastructure developer, was found to have breached its fiduciary duty to the
In the summer of 2024, Baker McKenzie obtained a trial judgment in fraud in CHU De Québec-Université Laval v. Tree of Knowledge International Corp. This decision provides clarity on the application of the “recklessness” standard in civil fraud claims. It also explains when a court will affix personal liability for the conduct of a corporate
The bankruptcy of Aiden Pleterski, the self-proclaimed ‘Crypto King’ began on August 9, 2022, with a court application brought by Baker McKenzie on behalf of a group of investors. This case garnered significant media attention due to the conduct of the Crypto King before and after his bankruptcy, as well as his kidnapping and assault
As we enter 2025, we look back on five important decisions that made the news in 2024. Here is the the first case.
On October 11, 2024, the Supreme Court of Canada released two decisions, Aquino v Bondfield Construction Co. (Aquino) and Scott v Golden Oaks Enterprises Inc (Golden Oaks), concerning the liability of
Can a lender challenge debtors’ transactions with a parent company as fraudulent conveyances when the debtors had disclosed the transactions before the loan was advanced? In NYDIG ABL LLC v IE CA 3 Holdings Ltd, the Supreme Court of British Columbia said yes. On appeal, the British Columbia Court of Appeal in IE CA
The general rule in bankruptcy is that a debtor receives a “fresh start” and is discharged from prior debts, but this is subject to certain exceptions. Subsection 178(1) of the Bankruptcy and Insolvency Act (BIA) sets out eight classes of debts that are not released by an order of discharge including an exception for debts that arise out
Mareva orders, also known as freezing orders, may be granted when there is a risk that a defendant might move its assets out of reach of the court’s jurisdiction. Mareva orders can freeze assets owned directly or indirectly by a defendant. Oftentimes a defendant subject to a freezing order has other creditors seeking repayment. Can
In a decision released in 2023, Justice Vermette of the Ontario Superior Court rejected an application to set aside an arbitration award on procedural fairness and jurisdictional grounds. This decision clarified when Ontario’s International Commercial Arbitration Act (the “ICAA”) applies and confirmed that arbitration awards may only be set aside by courts on narrow grounds.
