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Purchase-money security interests: cross-collateralizing without waivers

Cassels Brock & Blackwell LLP
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Canada
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April 12 2010

The recent decision of the Alberta Court of Queen’s Bench, Royal Bank of Canada v. Ramco Sales Inc., highlights the danger of using a purchase-money security interest ("PMSI") when trying to cross-collateralize assets under different financings with the same obligor

Proposal for a new framework for the regulation of securitized products

Cassels Brock & Blackwell LLP
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Canada, USA
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April 14 2011

On April 1, 2011, the Canadian Securities Administrators ("CSA") published a concept paper that outlines its proposal to overhaul the regulation of "securitized products" in Canada (the "Proposal"

Abuse of the Repair and Storage Liens Act

Cassels Brock & Blackwell LLP
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Canada
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March 6 2012

Lawrence Gold recently presented on abuses of the Repair and Storage Liens Act (Ontario) (“RSLA”) impacting commercial finance and insurance companies to the Ontario Personal Property Security Legislation Committee (“PPSL Committee”

The Canadian equipment finance environment: an overview for European professionals

Cassels Brock & Blackwell LLP
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Canada
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October 5 2009

As international trade grows, financial institutions and manufacturers of equipment recognize that international sales or the globalization of their business is a requirement to staying competitive

Traps for the unwary - administration fee held to be in violation of the criminal rate of interest

Cassels Brock & Blackwell LLP
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Canada
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May 21 2009

The recent case of De Wolf v. Bell ExpressVu Inc., 2008 O.J. No. 3548 is an excellent reminder to creditors of the dangers of charging an administration fee for late payment

The transition to new rules for pre-authorized payment plans

Cassels Brock & Blackwell LLP
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Canada
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January 12 2010

In June 2008, the Canadian Payments Association ("CPA") revised its rules for pre-authorized payment and debit programs

Federal government releases consultation paper on leasing framework

Cassels Brock & Blackwell LLP
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Canada
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April 28 2009

In its 2009 Budget, the Canadian Government stated its intention to consult market participants on the potential merits of changing the legislative and regulatory framework for financial leasing activities by federally-regulated financial institutions

Reliance on collateral descriptions reinstated and new hope that Section 7 of the Personal Property Security Act (Ontario) (where to register) will be proclaimed into force

Cassels Brock & Blackwell LLP
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Canada
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July 12 2010

As has been mentioned in previous e-LERTs from our firm, certain provisions of the Personal Property Security Act (Ontario) (the "OPPSA") were repealed

Motor vehicles in a consumer insolvency. British Columbia Court of Appeal determines trustees and consumers claims - TRAP for subprime auto lenders revisited

Cassels Brock & Blackwell LLP
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Canada
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April 18 2012

It is always an interesting question as to what rights a lender has with respect to a motor vehicle owned by a consumer who becomes insolvent, and whether a secured creditor is able to seize a motor vehicle in order to satisfy an obligation due under a loan

Priority agreements in inventory financing parts and supplies should be carefully defined

Cassels Brock & Blackwell LLP
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Canada
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February 29 2012

The recent case of Toronto Dominion Bank v. Wheatland Industries (1990) Ltd.1 (the “Wheatland Case”) is instructive in its interpretation of priority agreements in inventory financing

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