Oct 19, 2017

Government Backtracks on Anti-Surplus Stripping Proposals, and Looks to Develop Alternative Proposals

Happily, on October 19, 2017, the Federal Government announced it is not proceeding with yet another measure in its July 18 proposals (summarized here) – this time, the anti-surplus stripping proposals. Earlier in the week, the Government announced that it will (i) simplify the income sprinkling proposals and not proceed with proposed measures to limit access to the Lifetime Capital Gains Exemption (summarized here) and (ii) add a safe harbour for the proposals impacting the taxation of passive income in a private corporation (summarized here).

Oct 2, 2017

The continuing saga in Yaiguaje v. Chevron Corporation: a lesson in security for costs and the enforcement of foreign judgments

The judicial history in Yaiguaje v. Chevron Corporation spans several jurisdictions and dates back to the early 1990s, while the facts underlying the dispute date back to the 1960s. The matter has reached appeal courts, including the Supreme Court of Canada, and has prompted a review of several issues relevant to the conduct of business internationally, including the enforcement of foreign judgments and piercing the corporate veil.

Aug 28, 2017

“Umbrella Damages” Forecast for Canada: Cross Border Sellers Beware

WeirFoulds partner Nikiforos Iatrou and associate Kayla Theeuwen contributed to the Aug/Sept issue of Today’s General Counsel with their article, “‘Umbrella Damages’ Forecast for Canada: Cross-border sellers beware “. The article examines divergent views on the issue of whether umbrella purchasers have a cause of action at Canadian law, and, as a result, identifies that a storm of umbrella damage claims may be in the forecast.

Aug 25, 2017

With or Without Prejudice?

A recent court decision in Ontario reminds us of the significant implications when communications are characterized as having been made “without prejudice”. Such communications are generally precluded from being disclosed or referred to in any subsequent court proceedings. In contrast, no disclosure restrictions are imposed on communications falling outside the without prejudice classification. It is important for parties and their legal advisors to keep the distinction in mind at the time a communication is made.

Aug 1, 2017

21st Century Estate Practice: Shrunken heads and sperm

Hollywood’s vision of an estate solicitor sitting at their desk mulling fine points of tax law while sipping tea and drafting a will is so far from modern practice as to be laughable. One troubling issue for estate practitioners in the 21st century is the plethora of unique assets that have to be planned for, administered, and/or disposed of in a safe and permissible manner. An unscientific survey of our colleagues’ experiences yields some useful tips for dealing with unusual assets.