Yearly Archives: 2014

DIP financing basics and recent case law

Debtor-in-possession (“DIP”) financing, also known as “interim financing” or “DIP financing,” describes an increasingly common situation where an insolvent company is allowed to remain in possession of its assets during the restructuring process and receive additional financing in order to …

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Society Act Reform

The B.C. government has released a white paper http://www.fin.gov.bc.ca/pld/fcsp/society_act_discussion.htm  outlining proposals for a new Societies Act to regulate the governance of non-share capital entities incorporated in British Columbia. The full text of a proposed new act is presented, along with …

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Sweeping changes to Canada’s temporary foreign worker program

On June 20th, 2014, the Government of Canada announced sweeping changes to the temporary foreign worker program, much of which is effective immediately. The following is a brief review of those changes.

The Labour Market Impact Assessment (“LMIA”) …

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Scraping materiality: “…where we’re going, we don’t need roads.”*

Despite its name, a ‘materiality scrape’ is not what happened to Marty McFly in Dr. Emmett Brown’s DeLorean.

In fact, it is a tool that is becoming more popular among counsel for the purchaser in commercial transactions, as a counterbalance …

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The decline of legal opinions in commercial transactions

All lawyers and clients have heard the stories. A commercial transaction is almost closed, and the lawyers spend the entire night and part of the morning before closing, drafting and revising the wording of the legal opinions they are to …

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