Publications
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New Developments Regarding Pension Plans: Relief Measures Extended and the Passing of Bill 39 on Voluntary Retirement Savings Plans
RELIEF MEASURES EXTENSIONOn November 27, 2013, the Government of Québec published the Regulation Providing New Relief Measures for the Funding of Solvency Deficiencies of Pension Plans in the Private Sector (the “New Regulation”), which will come into effect on December 31, 2013.The New (…)
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The Committee on Public Finance presents its views on the D’Amours Report
On September 17, 2013, after holding special consultations in June and August 2013,1 the Committee on Public Finance published its conclusions and recommendations on the report of the Expert Committee regarding the future of the Quebec Retirement System (the “D’Amours Report”). (…)
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The Supreme Court rules in Indalex: DIP lenders rank ahead of pension beneficiaries in CCAA Restructuring
On February 1, 2013, the Supreme Court overturned a controversial decision of the Ontario Court of Appeal which granted pension beneficiaries priority over DIP lenders in the context of a restructuring under the Companies’ Creditors Arrangement Act (“CCAA”).1 The Court of (…)
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Francization – Bill No 14 amending the Charter of the French language
This publication was authored by Luc Thibaudeau, former partner of Lavery and now judge in the Civil Division of the Court of Québec, District of Longueuil. The title of this newsletter gives a good summary of the explanatory notes that serve as an introduction to Bill 14, entitled An Act to amend (…)
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The Supreme Court of Canada will hear the Vivendi case
On August 9, 2012, the Supreme Court of Canada granted the application for leave to appeal filed by Vivendi Canada Inc. against the decision rendered in February 2012 by the Québec Court of Appeal. This decision authorized Mr. Michel Dell’Aniello to bring a class action against Vivendi Canada (…)
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The Court of Appeal authorizes retirees' class action against Vivendi
On February 29, 2012, the Quebec Court of Appeal reversed the judgment of the Quebec Superior Court that had dismissed the motion to authorize the bringing of a class action filed by Mr. Michel Dell’Aniello (“Dell’Aniello”) in connection with changes made unilaterally by (…)
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The Superior Court orders the Régie des Rentes du Québec to Register Adverse Amendments
On September 9, 2011, the Quebec Superior Court allowed an application for judicial review of Synertech Moulded Products, Division of Old Castle Building (« Synertech ») and quashed two judgments rendered by the Economic Affairs Section of the Tribunal administratif du Québec (Quebec (…)
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Quarterly legal newsletter intended for accounting, management, and finance professionals, Number 14
Defined Benefit Pension Plans : The Temporary Funding Relief Measures will Likely be Extended! A New Statutory Framework for Federal Not-for-profit Organizations Conversion of Debt into Shares by a Corporation in Financial Difficulty; Pay Attention to the Tax Consequences Conflicting (…)
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The Supreme Court of Canada issues its judgment in the Burke case
On October 7, 2010, the Supreme Court of Canada rendered its judgment in the Burke v. Hudson’s Bay Co. case. The Supreme Court dismissed the appeal brought by certain former employees and confirmed the judgment rendered by the Ontario Court of Appeal.
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Class Actions : The Court says no to retirees
Last August 3, the Superior Court of Québec dismissed the motion for authorization to institute a class action filed by Mr. Michel Dell’Aniello against Vivendi Canada Inc. This decision deals with two subjects of interest, namely, unilateral changes made by an employer to the group insurance (…)
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The Régie and the TAQ reject adverse amendments made to a pension plan
On July 28, 2010, the Tribunal administratif du Québec confirmed a decision of the Régie des rentes du Québec which had refused to register adverse amendments made to a pension plan despite the consent given to the amendments by the sole member of the plan.
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The Member-Funded Pension Plan : a Defined Benefit Pension Plan that Limits the Employer’s Financial Risk
The decision of an employer to offer a pension plan to its employees is an important one. Various types of pension plans may be offered, and the financial risk of the employer depends on the type of plan chosen.While union and employees generally prefer defined benefit pension plans, employers are (…)