On August 31, 2015, the Quebec Superior Court in Mouvement d’éducation et de défense des actionnaires (MÉDAC) v. Société financière Manuvie et al. rendered an important decision regarding the possibility for a plaintiff in a class action in Quebec to import evidence disclosed in a class action that is proceeding simultaneously in another province.
By refusing leave to appeal in the Victoria matter earlier this summer, the Supreme Court of Canada has affirmed one of two significant rulings issued by the Quebec Court of Appeal (“QCA”) in the Victoria matter and the Peyrow matter. Both of these judgments were rendered in favour of our firm’s client Athena Energy Marketing Inc. (“Athena”). Although they touch upon a number of issues relevant to natural gas industry, these rulings are of particular importance as they affect the manner in which suppliers do business in Quebec.
For some time now the Comprehensive Economic and Trade Agreement (“CETA”) between Canada and the European Union (“EU”) has felt somewhat like a mirage: a refreshing source of economic stimulation in a difficult environment sitting almost within grasp on the horizon but yet which moves away as you try to approach it.
The Autorité des marchés financiers, along with the securities regulators of British Columbia, Saskatchewan, Manitoba, New Brunswick and Nova Scotia (the “Jurisdictions”), recently implemented a new equity crowdfunding exemption (the “Crowdfunding Exemption”) by way of Multilateral CSA Notice 45‑316 – Start-up Crowdfunding Registration and Prospectus Exemptions (“45-316”).
The article first appeared in the August/September 2015 issue of the Canadian Institute of Mining Magazine, Vol. 10, No. 5.
It is not uncommon for mining property transactions to include the payment of a royalty as part of the vendor’s consideration, such as a Net Smelter Return (NSR), through which the holder typically receives a percentage of the value of production or net proceeds earned by the grantor from a smelter or refinery.
Timely Disclosure Obligation: Right of Action of Secondary Market Investors
This past April, the Supreme Court of Canada rendered its decision in Theratechnologies inc. v. 121851 Canada inc., which involved the burden of proof applicable to investors seeking authorization to bring a class action for damages pursuant to section 225.4 of the Quebec’s Securities Act.