Torys LLP


U.S. bankruptcy court bars tolling of fraudulent conveyance look-back period

February 2 2012 A U.S. bankruptcy judge in Delaware has held that the two-year "look-back" period in which a transfer occurring within two years of the bankruptcy petition filing date may be avoided, under Section 548 of the U.S. Bankruptcy Code, cannot be equitably tolled.

Preserving privilege in a corporate group: lessons from In re Teleglobe Communications Corp

October 22 2008 In re Teleglobe Communications Corp is an important decision of the United States Court of Appeals for the Third Circuit regarding the preservation of solicitor–client privilege between members of the same corporate family.

The TSX’s new shareholder approval rule encourages capital markets activity to finance M&A transactions

June 10 2010 In November 2009, the Toronto Stock Exchange adopted a new rule requiring shareholder approval for the issuance of stock in connection with public company acquisitions if the issuance would result in more than 25% dilution to existing shareholders.

Asset equipment finance/leasing

June 12 2008 The asset equipment finance and leasing practice area is related to the financing of equipment, vehicles and related assets by way of specific asset-based priority financing, primarily through leases, but also through conditional sales contracts, secured loans or securitizations.

Emails satisfy “signed writing” requirement of New York Statute of Frauds and employment agreement

June 17 2008 In Stevens v. Publicis, S.A., Stevens sold his New York public relations firm to Publicis, S.A., a French communications company.

Canadian regulators propose 5% early warning and alternative monthly threshold, including derivatives

March 19 2013 Canadian securities regulators are proposing to change the early warning and alternative monthly reporting regimes to require disclosure of…

CIPO issues new guidance on patentability of computer-implemented inventions

March 15 2013 On March 8, 2013, the Canadian Intellectual Property Office (CIPO) published its practice guidance following the Federal Court of Appeal decision in…

Canadian companies will be harder to acquire under new poison pill proposals

March 14 2013 The Canadian Securities Administrators have released proposed new rules for shareholder rights plans (or “poison pills”). Under the CSA proposal…

Proof of materiality not required for certification of securities fraud class actions in the United States

March 13 2013 On February 27, 2013, the United States Supreme Court issued its highly anticipated decision in Amgen Inc. v. Connecticut Retirement Plans and Trust…

Regulations to harmonize Canada-U.S. vehicle emissions regulations

March 11 2013 Environment Canada recently published regulations amending the On-Road Vehicle and Engine Emission Regulations. The amendments, which will come into…