In a landmark decision of the Québec Court of Appeal in the matter of the Bankruptcy of Doorcorp Installations Inc., a common sense approach was reintroduced in determining whether money advanced by a shareholder to a company should be treated as a regular unsecured claim or be deferred and ceded priority to other unsecured creditors when it came to the distribution of proceeds of liquidation of a bankrupt company.
The resounding success of several types of franchises, and in particular fast-food franchises, continues to spark the interest of entrepreneurs and financial institutions. The franchise concept also meets several criteria of people who want to start up a business with little experience.
Lawyers involved in IP disputes are generally excellent negotiators of settlements. So why call upon another professional, a “Mediator”, to facilitate a settlement? Isn’t that akin to bringing in another litigator to argue the case?
De Grandpré Chait proudly presents its 2011 Annual Review, highlighting various client accomplishments over the past year.
The Interest Act (Canada) is federal legislation that applies across Canada. Until now, mortgage loans with maturity dates exceeding five years could be repaid with a penalty of three months' interest pursuant to Section 10, unless the grantor of the mortgage is a joint stock company or other corporation or the financing is structured by the issuance of a debenture by a joint stock company or other corporation.
Since Fall 2011, the Office Québécois de la langue française (“OQLF”), which has the mandate to enforce the Charter of the French Language (“Charter”), has launched a francization campaign to push merchants to increase their compliance with the Charter’s provisions in their public signage. The purpose of this article is not to debate the validity of the OQLF’s interpretation of the Charter, but aims to inform about this new campaign and its implications for businesses operating in Québec.
To be successful, a business must also be dynamic. Survival and growth depend on obtaining financing, setting up partnerships or acquiring complementary or competing businesses. In all these transactions, intellectual property assets play a prominent role.
This chapter of the book Mergers and Acquisitions in North America, Latin America, Asia and the Pacific – Selected Issues and Jurisdictions provides non-Canadian readers with an introduction to Canadian legislative and business considerations involved in cross-border mergers and acquisitions, with particular focus on Canada's competition and foreign investment legislation.
On July 14th 2011, the Superior Court rendered its decision in the Axor Construction v. Bibliothèque et Archives nationales du Québec case. This decision illustrates the extent of the owner’s rights with respect to a public call for tenders by concluding that Bibliothèque nationale could choose to increase the budget and award the contract to the lowest compliant bidder, negotiate a reduction of costs in order to respect its budget or even reject all bids and issue a new call for tenders. (Available in French only)
The date the construction work has been completed marks the commencement of the 30-day delay for registering a legal hypothec. When, however, work cannot be completed due to the owner’s insolvency, jurisprudence states thatthe date on which construction work is completed marks the date of the definitive abandonment of the work. (Available in French only)