Publications
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In force since June 1, 2015: The Extractive Sector Transparency Meadures Act (Canada)
In keeping with trends in other jurisdictions, Canada has brought into force federal rules requiring businesses in the extractive sector to publish annual reports on payments of $100,000 or more made to governments in Canada and abroad. Payments to Aboriginal governments will be covered by these (…)
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Historic Quebec lawsuit against tobacco companies: The Superior Court awards more than $15 billion in damages
In a decisive victory for the Plaintiffs in class actions against the three Canadian leading tobacco companies1, the Québec Superior Court ordered the Defendants to pay more than 15 billion dollars in moral damages2 and punitive damages. There were more than 253 hearing days3 and 16 years of (…)
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Securing debts in Quebec: Important changes to consider
On April 20, 2015, the National Assembly adopted An Act mainly to implement certain provisions of the Budget Speech of 4 June 2014 and return to a balanced budget in 2015-2016 (S.Q. 2015, c. 8). Some of the many amendments introduced by that statute (the “Act”) pertain to the securing of debts in (…)
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The corporate director: Questions and answers
This 52-page bulletin answers in a practical and simple manner respecting the legal framweork forty-three (43) questions administrators ask or should ask themselves. It is a very useful tool to promote good governance generating value. Click here to view the complete publication
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Equity crowdfunding - The Autorité des marchés financiers adopts a new prospectus exemption for startups
The Lavery GO inc. Program team is happy to inform you that the Autorité des marchés financiers(AMF) announced yesterday the implementation of an equity crowdfunding exemption which allows startups to raise up to $500,000 in capital per year. Under this exemption, startups whose head office is (…)
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A Heads-up on Asbestos!
To allow for adequate planning, the Quebec government phased in the coming into force of certain regulatory amendments on building safety that were adopted in the past few years. These new standards were previously discussed in bulletin Nos. 6 and 9, issued in April 2013 and June 2014 respectively, (…)
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Reminder to employers : The deadline for complying with certain regulatory provisions for safe asbestos management expires June 6, 2015
In Quebec, it is possible to find materials and products containing asbestos in civil engineering works, construction materials, facilities and equipment in all types of buildings, whether industrial, commercial, public or residential. According to various sources, the need to adopt new standards on (…)
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Confinement orders: Psychiatric examination reports not automatically excluded when a patient’s fundamental rights and freedoms are violated
In a judgment handed down on January 30, 2015, the Court of Québec held that the failure to respect the prescribed time limits or the violation of a patient’s fundamental rights and freedoms does not lead to the automatic exclusion of a psychiatric examination report concluding that the patient (…)
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Canadian Securities Administrators announce amendments to venture issuer requirements
The Canadian Securities Administrators (“CSA”) have announced that, on several fronts, they are implementing amendments to the disclosure requirements for venture issuers, including those listed on the TSX Venture Exchange. These amendments primarily address continuous disclosure and governance (…)
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Site contamination: Claims for latent defects - Notice and prescription
On what grounds may a landowner who discovers soil contamination caused by an old heating oil tank sue the former owner of the property? In this bulletin we examine whether the warranty against latent defects found at Article 1726 of the Civil Code of Québec can be invoked to have the sale annulled (…)
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Franchisors’ duty to act in good faith and related implicit obligations: Dunkin’ Donuts ordered to pay nearly $18M to some of its franchisees
The Court of Appeal of Quebec has issued an important judgment pertaining to a franchisor’s implicit obligations towards its franchisees. In June 2012, the Superior Court of Quebec ordered Dunkin’ Donuts Brands Canada Ltd. (“Dunkin’ Donuts”) to pay an amount of $16.4M (plus interests and costs) to (…)
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FATCA for investment funds – Be ready for May 1, 2015!
The Foreign Account Tax Compliance Act, or FATCA, has been an integral part of Canada’s tax system for over a year. Originally legislated under U.S. law, FATCA allowed the Internal Revenue Service (“IRS”) to obtain information from financial institutions about the financial accounts of U.S. citizens (…)
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Proposal for new TSX listing requirements for ETFs, closed-end funds and structured products: codification of existing practices
On January 15, the Toronto Stock Exchange (the “Exchange”) published proposed amendments to the Toronto Stock Exchange Company Manual (the “Manual”). More specifically, a completely new section will be added to the Manual (Part XI) for determining the minimum listing requirements to be met by (…)