Ahmed Shafey practices commercial litigation, providing advice in the context of civil fraud and asset recovery matters, contractual disputes, professional liability actions, shareholder disputes, government procurement litigation, international commercial arbitrations and bankruptcy and insolvency proceedings. Ahmed has been engaged in a number of civil fraud and asset recovery matters as well as complex business crime investigations, including in tracing preferential payments, investigating complex investment frauds and moving for emergency injunctive relief to preserve and protect assets in Canada and beyond.
By Ahmed Shafey on Posted in Fraud Prevention,Fraud RecoveryIn a narrow 5-4 decision, the Supreme Court of Canada has laid out a new formulation of the “fictitious or non-existing payee” defence under section 20(5) of the Bills of Exchange Act (BEA). The underlying dispute involved an employee who took advantage of weak internal compliance mechanisms to draft a number of fraudulent cheques. The… Continue Reading
By Ahmed Shafey on Posted in Fraud RecoveryIn 2014, we reported on the Ontario Superior Court of Justice’s decision in Indcondo Building Corporation v. Sloan (“Indcondo“), which strengthened the position of plaintiffs seeking to set aside fraudulent conveyances in Ontario. In the Indcondo case, Mr. Justice Penny analyzed the substantive test for establishing fraudulent conveyance and in particular the demonstration of whether… Continue Reading
By Ahmed Shafey on Posted in Fraud PreventionThe Federal Court of Appeal’s decision in Condon v. The Queen, 2015 FCA 159 (“Condon“), released July 6, 2015, has significant implications for organizations that have experienced large scale data breaches. The Federal Court of Appeal upheld the decision by the Federal Court to certify a class action lawsuit based on the recently developed tort… Continue Reading
By Ahmed Shafey on Posted in Fraud PreventionOn February 3, 2015, the Ontario Securities Commission (the “OSC“) released a staff consultation paper which outlines a proposed framework for an OSC Whistleblower Program. The program seeks to encourage individuals to report serious breaches of Ontario securities law, that would not otherwise come to the OSC’s attention.… Continue Reading
By Ahmed Shafey on Posted in Fraud RecoveryOn July 31, 2014, the Honourable Mr. Justice Penny of the Ontario Superior Court of Justice ruled in favour of the plaintiff in Indcondo Building Corporation v. Sloan (S.C.J.). For the plaintiff, Indcondo Building Corp (“Indcondo“), the ruling represents the culmination of more than two decades of litigation, which witnessed an intervening bankruptcy and subsequent… Continue Reading
By Ahmed Shafey on Posted in CybersecurityOn June 13, 2014, the Supreme Court of Canada delivered the landmark decision of R. v. Spencer (“Spencer“). In this decision, Mr. Justice Thomas Cromwell, writing for the Court, set out the ground rules for police to obtain subscriber information from Internet Service Providers (“ISPs”). In doing so, the Court effectively put an end to the… Continue Reading
By Ahmed Shafey on Posted in Cybersecurity,Fraud Prevention As part of Fraud Prevention Month, the RCMP is rolling out tip sheets to help Canadians protect themselves against an ever-growing number of scams and frauds including a list of “Top 10 Cyber Crime Prevention Tips”. Many of these tip sheets highlight the role of technology in fraudulent schemes and the importance of ensuring… Continue Reading