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Lenders must ensure compliance with guarantee conditions or risk discharge of guarantee: Coast Mountain Aviation v. Brooks Enterprises

Borden Ladner Gervais LLP
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Canada
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February 1 2013

A recent British Columbia Supreme Court decision in Coast Mountain Aviation Inc. v. M. Brooks Enterprises Ltd. held that the guarantor of a loan was

Unenforceable guarantees: decision under appeal!

Borden Ladner Gervais LLP
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Canada
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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

Inadvertently discharged PPSA financing statement saved by equity (but caution, this will not always occur)

Borden Ladner Gervais LLP
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Canada
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November 13 2012

A recent Supreme Court of British Columbia decision in KBA Canada v. 3S Printers Inc. held that where a BC PPSA financing statement has been inadvertently discharged and there is no prejudice to subordinate creditors, the court can make an order giving priority to the discharged creditor

Unenforceable guarantees: lenders take note!

Borden Ladner Gervais LLP
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Canada
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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

‘Knowing assistance’ class action certified

Borden Ladner Gervais LLP
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Canada
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July 10 2012

Good rule of thumb: don’t knowingly assist in someone else’s breach of trust; you’ll be liable too

No duty to correct misstatements of third parties present during earnings call

Borden Ladner Gervais LLP
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Canada
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July 10 2012

MGIC Investments, an insurer of mortgage loans, was under pressure when the sub-prime market faltered in 2007

New York Court on jurisdiction over claims of bank’s foreign non-customers: not entirely clear-cut

Borden Ladner Gervais LLP
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Canada
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May 1 2012

The plaintiffs in the two related judgments in Licci v Lebanese Canadian Bank SAL and American Express Bank Ltd (2d Cir, 5 March 2012) were Israeli residents who had been the victims of Hezbollah rocket attacks in 2006

Limitation period for negligent misrep runs from when you know you have a claim, not necessarily from when loss actually occurred

Borden Ladner Gervais LLP
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Canada
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May 1 2012

With impeccably awful timing, the City of Hamilton bought asset-backed commercial paper (ABCP) in July 2007, three weeks before the ABCP market collapsed

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

Borden Ladner Gervais LLP
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Canada
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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

Attachment or garnishment order against ny branch doesn’t restrain debtor’s Canadian account

Borden Ladner Gervais LLP
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Canada, USA
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March 15 2012

The old ‘separate entity’ rule, which treats bank branches as distinct for purposes such as garnishment and attachment, is alive and well in New York

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Search results

Lenders must ensure compliance with guarantee conditions or risk discharge of guarantee: Coast Mountain Aviation v. Brooks Enterprises

Unenforceable guarantees: decision under appeal!

Inadvertently discharged PPSA financing statement saved by equity (but caution, this will not always occur)

Unenforceable guarantees: lenders take note!

‘Knowing assistance’ class action certified

No duty to correct misstatements of third parties present during earnings call

New York Court on jurisdiction over claims of bank’s foreign non-customers: not entirely clear-cut

Limitation period for negligent misrep runs from when you know you have a claim, not necessarily from when loss actually occurred

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

Attachment or garnishment order against ny branch doesn’t restrain debtor’s Canadian account

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