Month: September 2012

Bryan Finlay wins OBA Award of Excellence in Civil Litigation

WeirFoulds LLP’s Bryan Finlay was awarded the OBA’s Award of Excellence in Civil Litigation last night at the Ritz-Carlton Hotel in Toronto. SCC Justice Thomas Cromwell was the keynote speaker. As set out on the OBA website, “the OBA’s Award of Excellence in Civil Litigation recognizes exceptional contributions and achievements in civil litigation by members

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New Interim Commissioner of Competition appointed after Aitken resignation

The federal government recently announced the appointment of John Pecman as the interim Commissioner of Competition for up to a one-year term. Pecman takes over from Melanie Aitken, who announced her resignation in June. Aitken is a well known personality who had a significant impact on the direction of the Competition Bureau. Aitken spoke at this

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Ontario Court of Appeal decision will stand in Crystallex case

The Supreme Court of Canada on Thursday announced that it had dismissed the leave application for Computershare Trust Company of Canada v. Crystallex International Corporation et al., the closely watched case on DIP financing arrangements in CCAA proceedings. Lexpert published a description of the case, which lists all lawyers involved, in the current issue (September). A description of the lower court decision from December, 2009, is

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Lockstep vs. Eat-What-You-Kill: Compensation statistics highlight Dewey LeBoeuf’s folly

I read an interesting story in the New York Times this week about partner compensation in the post-Dewey LeBoeuf world. Written by Peter Lattman, the piece highlights the stark contrast between the rainmaker-friendly, eat-what-you-kill compensation system preferred by high-risk enterprises like Dewey LeBoeuf, and the strict lock-step, seniority-based format preferred by such establishments as Cravath, Swaine

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Canada’s small labour force

According to a blog post written by Stewart McKelvey associate, Michelle Black, when Canada has a small labour and employment context, the Nova Scotia Court of Appeal has held that a party can look outside of Canada for a referential comparator group. In Bishop v. Nova Scotia (Workers’ Compensation Appeals Tribunal), 2012 NSCA, the Court held that the WCAT

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B.C. Supreme Court Enters the Dual-Class Share Debate

Activist hedge funds faced a big setback last week when the B.C. Supreme Court issued its ruling in Telus Corp. v. CDS. The ruling spoke broadly about issues around “empty voting” — the practice of exercising a large voting stake in the absence of any significant economic stake (often to the detriment of other shareholders).

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Nexen shareholders overwhelmingly approve CNOOC deal

Reuters has just reported that Nexen Inc shareholders overwhelmingly approved the oil producer’s takeover by China’s CNOOC Ltd this morning. The stock weakened as public opposition to a state-owned enterprise absorbing $15.1 billion of Canadian-owned assets appeared to grow. “I think that’s healthy to have a good debate on whether this is in the best

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Big Deals: RBC closes US$2.5B issue of SEC-registered covered bonds

On Wednesday, RBC closed the first-ever covered bond issue registered with the US Securities and Exchange Commission —  allowing the bank to offer the bonds to retail investors. The registration process for the US$2.5 billion offering was lengthy (described by Reuters as “torturous” but worthwhile for the bank) and is a shift away from the usual Rule 144A route. Lexpert caught up with Norton Rose Canada’s Andrew Fleming – who co-led the

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Big Deals: Entertainment One Acquires Alliance Films

With dealmaking such a huge part of the Toronto International Film Festival, the recent announcement that Entertainment One is set to acquire Alliance Films has been generating buzz. “The Canadian film industry will never be quite the same,” wrote Martin Knelman of the Toronto Star, while trade publication Screen International has insiders opining on its potential effects. Amir Malin, founder

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Comments on Ottawa’s “foreign affiliate dumping” budget rules due today

Today is the deadline for comments to the Canadian Department of Finance on new “foreign affiliate dumping” rules. Click here to see the invitation for comments. Lexpert spoke with Adrienne Oliver, co-chair of Norton Rose’s Canadian tax team, about the proposed rules and the improvements her and her clients are hoping to see in their

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