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Bank error in your favour - The $900 million wire transfer mistake: Practical implications in the Canadian lending context

Canada - March 30 2021 In August 2020 an unprecedented black swan event occurred when Citibank N.A. (Citibank), acting as an administrative agent…

Bryce Kustra, Dana Saric.

Do lenders still have a duty of good faith? Supreme Court decides in Wastech

Canada - March 30 2021 The decision of the Supreme Court of Canada (the SCC) in Wastech Services Ltd. v. Greater Vancouver Sewerage District (2021 SCC 7), reaffirming the…

Ryan Hayes, Tearney Johnston-Jones.

LIBOR endgame announced

United Kingdom - March 10 2021 On March 5, 2021, the United Kingdom’s Financial Conduct Authority (FCA) and ICE Benchmark Administration (IBA) issued key announcements (which can…

Andrew G. Herr, Lisa Mantello.

New changes to the CDOR benchmark are on the horizon

Canada - February 11 2021 In addition to the latest updates regarding the revocation of the LIBOR reference rate (read the latest on LIBOR practices here), the market must…

Tearney Johnston-Jones.

Credit agreement best practice - LIBOR cessation

Canada - September 16 2020 LIBOR, or the London Interbank Offered Rate, is the underlying reference rate for trillions of dollars of financial products, including loans, bonds…

Andrew G. Herr, Lisa Mantello.