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Guide to Insolvency in Canada 2021: Law and practice

The Chambers and Partners Insolvency 2021 Global Practice Guide is a resource for legal and non-legal professionals to learn about the differing legal regimes that apply to business restructurings, reorganisations, rehabilitations, insolvencies and liquidations in 49 jurisdictions. Gowling WLG partners David Cohen, Virginie Gauthier, Thomas Gertner and Cliff Prophet are contributing authors for the section on “Law and Practice” for the Canadian jurisdiction.

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On 30 November 2021, the Ontario legislature passed Bill 27, Working for Workers Act, 2021, an omnibus bill introduced by the Progressive Conservatives which amends a number of employment-related statutes. The amendments received Royal Assent on 2 December 2021; however, different parts of the Bill will come into effect at different times.

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Effective 1 January 2022, all employees, whether part-time, full-time, indefinite or fixed-term, working in British Columbia, who are protected by the provisions of the Employment Standards Act, and who have been employed with the same employer for 90 days or more, are entitled to take up to five (5) paid days off from work if they experience personal illness or injury.

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An asset tracer’s alphabet

In this short piece, the first in a series of articles shining light on the topic, Schillings’ specialist investigator picks some of the key, basic definitions that an asset tracer should be all too familiar with.

Keeping track of positive covenants

If they can be enforced, positive covenants can be troublesome for buyers and developers alike. But due care can bring any obligations to light during a transaction and help manage them.

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UK, Canadian and Danish firms lined up on RSA’s £7.2bn takeover

Slaughter and May, Clifford Chance, Herbert Smith Freehills and Ashurst are among the firms that have been enlisted on blue-chip British insurer RSA’s £7.2bn takeover from Canadian insurance group Intact and Denmark’s Tryg. The board of the FTSE 100 company has accepted an offer of 685p a share in cash as well as an 8p […]

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