Unenforceable guarantees: decision under appeal! *

Canada - December 6 2012
In our recent client update entitled Unenforceable Guarantees: Lenders Take Note! we reviewed the surprising Ontario Superior Court decision in Royal Bank of Canada v. Samson Management & Solutions Ltd.

Co-authors: Stephen J. Redican.

---

Unenforceable guarantees: lenders take note! *

Canada - November 6 2012
A recent Ontario Superior Court decision in Royal Bank of Canada v. Samson Management & Solutions Ltd. addresses the enforceability of guarantees and drives home the lesson that when increasing the amount or changing conditions under a loan agreement, the lender (a) should not terminate the old loan agreement and replace it with a new one and (b) should always have a new guarantee provided or the old guarantee confirmed.

Co-authors: Stephen J. Redican.

---

Sober second thoughts on the proposed Canadian prepaid card regulations *

Canada - November 2 2012
The Canadian federal government has announced proposed Prepaid Payment Products Regulations (the “Regulations”) in connection with its mandate to protect consumers when using payment products and improving consumer awareness on these forms of payment.

Co-authors: Stephen J. Redican, Tiffany Murray.

---

A further handicap or levelling the playing field? Canadian Code of Conduct to expand to mobile payments *

Canada - October 4 2012
The Canadian federal government has published a proposed Addendum to the Code of Conduct for the Credit and Debit Card Industry in Canada for public consultation, which would extend the Code to mobile payments.

Co-authors: Stephen J. Redican, Tiffany Murray.

---

New Bank Act amendments alter security interest priorities between federal Bank Act security and unperfected PPSA and other security interests *

Canada - April 13 2012
On March 29, 2012, the Financial System Review Act (“FSRA”) received royal assent, with the provisions coming into force on a date to be fixed by order in council.

Co-authors: Stephen J. Redican.

---