Articles

The COVID-19 pandemic has affected businesses tremendously. Many are feeling the effects of a significant drop in the market values of almost all asset classes, including real property and private equity. However, as this article explains, these lower asset values may provide a timely opportunity for companies to make fundamental changes to the corporate structure of their business through estate freezes.

A look at the special relationship between financial advisor and senior client and what remedies are available to seniors when things go wrong.

Under new Canada Emergency Wage Subsidy (“CEWS”) legislation, non-arm’s length parties which transact with each other using arm’s length terms – as often required by the Canada Revenue Agency (“CRA”) – are penalized unfairly. This is the result of a definition in the formula which erroneously refers to the “current reference period” when it should refer to the period immediately prior to the “current reference period."

It was a busier week at the Court of Appeal this past week, with the Court releasing eight substantive civil decisions, one short civil decision and ten criminal decisions.

This quarterly update focuses on further Ontario legislative developments on new FSRA guidance and communications resulting from the COVID-19 Pandemic. Federal developments are also covered, and several new case law updates are provided.

In this new reality, videoconferencing has suddenly become top of everyone's mind. However, the practical and legal implications for lawyers can be complex. Fortunately, there is some guidance. 

On May 13, 2020, the Ontario Divisional Court quashed the Minister of the Environment, Conservation and Parks’ 2019 decision to revoke the REA issued for the Nation Rise Wind Farm. The Court found the Minister’s decision to be unreasonable because it improperly raised new issues, applied an incorrect legal test, and reached conclusions not supported by evidence. The Court also applied Vavilov’s framework and found the Minister’s process in reaching his decision to be unfair.

This article provides a high level overview on the advantages of implementing an estate freeze when the value of businesses has declined due to the novel Coronavirus.