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
Continue Reading 2024 Notable Cases (Part 5) – Supreme Court Clarifies Bankruptcy Treatment of Securities Penalties and Disgorgement Orders
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
Continue Reading 2024 Notable Cases (Part 4) – $259M Disgorgement Ordered for Breach of Fiduciary Duty
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
Continue Reading 2024 Notable Cases (Part 3) – Civil Fraud and Personal Liability Established by Finding that a Corporate Officer’s Conduct was Reckless
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
Continue Reading 2024 Notable Cases (Part 2) – Bankruptcy of the Crypto-King and Related Rulings
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
Continue Reading 2024 Notable Cases (Part 1) – Supreme Court clarifies Corporate Attribution Doctrine
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
Continue Reading British Columbia’s Court of Appeal overturns ruling on invalidity of inter-company transfers from financially distressed Bitcoin mining companiesThe 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
Continue Reading Supreme Court Clarifies Exceptions to Fresh Start Principle in Canadian Bankruptcies
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
Continue Reading Ontario Superior Court Rejects Application to Set Aside an Arbitration Award under the Model Law
In Ontario, as a general rule, partial indemnity, which ranges from approximately 40-60% of the actual costs incurred by a party, is awarded to the successful litigant. Full indemnity, which comprises 100% of the costs
Continue Reading Failure to make full and fair disclosure can result in a full indemnity costs
Can individuals take steps to make themselves ‘creditor proof’ against future creditors, even when there is no such creditor at the time? If there are sufficient “badges of fraud” present, the answer may be no.Continue Reading Fraudulent Conveyances Act – Future Creditors may challenge transfers