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Mark Rasile

Financial Services Lawyer at Bennett Jones Toronto

Partner

Simon Grant

Financial Services & Regulatory Lawyer

Partner 

<a href="/People/R/Rasile-Mark">Mark Rasile</a>, Denise Bright, <a href="/sitecore/service/notfound.aspx?item=master%3a%7bD9F01CEE-FA3D-402A-91A9-1F1EBEDA2717%7d%40en">Yannick Beaudoin</a>, <a href="/People/G/Grant-Simon">Simon Grant</a>, <a href="/People/D/Dawson-Karen">Karen Dawson</a>, <a href="/People/S/Shimura-Noriko">Noriko Shimura</a> and <a href="/People/R/Rotchtin-David">David Rotchtin</a> offer an analysis on banking and finance in <a rel="noopener noreferrer" rel="noopener noreferrer" href="https://practiceguides.chambers.com/practice-guides/banking-finance-2023/canada" target="_blank">Chambers' Banking and Finance 2023 Practice Guide for Canada</a>. Addressing both law and practice and trends and developments, this guide offers detail regarding topics including the loan market, authorization, structuring and documentation, tax, guarantees and security, enforcement, bankruptcy and insolvency and project finance.

BANKING and FINANCE 2023 A Chambers Global Practice Guide Publication

Banking and Finance 2023: A Chambers Global Practice Guide Publication

Preet K. Gill

Insolvency & Restructuring Lawyer | Litigation & Transactions

Toronto Managing Partner

David S. Rotchtin

Banking & Lending Lawyer | Cross-Border

On May 11, 2021, Bill C-274, An Act to amend the Criminal Code (Criminal Code Interest Rate) received first reading in the House of Commons. The Bill proposes to amend the definitions of "criminal rate" and "interest" under section 347(2) and repeal section 347.1 which provides exemptions from the criminal interest restrictions in certain limited circumstances.

Significant Changes Proposed to the Criminal Interest Rate

Entering into a loan transaction that also has an equity component, such as the issuance of shares or warrants, has previously given rise to some concern that the loan could ultimately run afoul of the 60 percent criminal rate of interest. While this has widely been thought to be contrary to the intended purpose of the criminal interest provision (preventing loan-sharking), there has still been a risk that equity could be captured and valued as interest due to the broad definition and judicial interpretation of "interest" in that provision. However, that risk has been diminished by a decision of the Ontario Superior Court that was recently upheld by the Ontario Court of Appeal.<a name="_ftnref1" href="EditorPage.aspx?da=core&id=%7BC0D7EC62-565D-4439-A962-7EA9A20D1F96%7D&ed=FIELD1417702855&vs&la=en&fld=%7BAF364D18-3608-40E2-9704-4E0D72DB7598%7D&so&di=0&hdl=H1417702884&mo&pe=0&fbd=1#_ftn1"></a>

Equity Kickers and the Criminal Rate of Interest

The Enbridge Northern Gateway Project (Project) involves the construction of two pipelines running from near Edmonton, Alberta, to a new marine terminal in Kitimat, British Columbia. The west-flowing pipeline will carry petroleum for export, and the east-flowing pipeline will import condensate. Northern Gateway Pipelines Inc. (Northern) is seeking regulatory approval for the Project. Pursuant to environmental and energy legislation, a Joint Review Panel (JRP) has been established to review the Project and make a final decision on whether or not to approve it. For information and relevant documents, refer to “Enbridge Northern Gateway Project Joint Review Panel,” National Energy Board. Published in the Canada – Oil & Gas section of the Rocky Mountain Mineral Law Foundation's Mineral Law Newsletter, Volume 29, Number 1, 2012.

Community Hearings on Enbridge Northern Gateway Project Begin

Dominique T. Hussey

Chief Executive Officer and Intellectual Property Litigator, Pharma/Biotech and Trademark Lawyer

Chief Executive Officer

Vincent M. de Grandpré

IP Lawyer | Life Sciences & Tech

Emily P. Kettel

Intellectual Property Lawyer at Bennett Jones Toronto

Partner, Trademark Agent

In Pharmascience v. Janssen Inc., the Supreme Court of Canada reaffirmed that methods of medical treatment remain unpatentable subject matter under the Patent Act because they are directed to the professional skill and judgment of healthcare practitioners. At the same time, the Court upheld the patentability of the dosing regimen claims at issue, clarifying that not all therapeutic or treatment-related claims constitute unpatentable methods of medical treatment. The decision provides important guidance on assessing patent eligibility for pharmaceutical and life sciences innovations in Canada.

Supreme Court of Canada Reaffirms that  Methods of Medical Treatment are Unpatentable

Supreme Court of Canada Confirms That Medical Professional Skill and Judgment Are Excluded From the Patent Bargain

Ethan Z. Schiff

Class Actions & Commercial Litigation Lawyer

Evana Yukanna

Commercial Litigation Lawyer at Bennett Jones Toronto

Associate

Ontario court denies a late class action opt-out request, reinforcing settlement finality and confirming prejudice can arise before court approval.

Ontario Court Reinforces Finality of Class Proceedings in Rejecting Late Opt Out Request

Ontario Court Reinforces Finality of Class Proceedings in Rejecting Late Opt-Out Request

Martin Ignasiak KC

Energy & Industrial Projects Lawyer

Head of Energy Regulatory

Tyler McDonough

Commercial Litigation Lawyer at Bennett Jones Calgary

Logan Lazurko

Energy & Regulatory Lawyer | Environmental

On June 17, 2026, the Alberta Court of Appeal unanimously dismissed an appeal by Fort McMurray 468 First Nation challenging an Alberta Energy Regulator decision that the First Nation lacked standing to request regulatory appeals of approvals issued to AdhMor Ltd. for an oilfield waste management facility near Fort McMurray. The decision in Fort McMurray 468 First Nation v Alberta Energy Regulator, 2026 ABCA 197, offers important guidance on what it takes to get in the door at the AER.

Alberta Court of Appeal Confirms Cumulative Effects are no Substitute for Evidence

No Standing Without Specifics: Alberta Court of Appeal Confirms that Cumulative Effects are no Substitute for Evidence

Wesley R. Novotny

Corporate Tax Lawyer at Bennett Jones Calgary

Wade Ritchie

Tax Lawyer at Bennett Jones Calgary

Zachary Thacker

In the April 28, 2026 Spring Economic Update, the federal government announced its intention to make permanent the C$10 million capital gains exemption available on certain sales of businesses to employee ownership trusts and worker cooperatives, which exemption was previously set to expire at the end of 2026. This amendment has now passed into law as part of Bill C-30, which received Royal Assent on June 18, 2026.

Capital Gains Exemption Made Permanent for Employee Ownership Trusts

A Major Boost for Canadian Business Succession

C$10 Million Capital Gains Exemption Made Permanent for Employee Ownership Trusts 

Curtis A. Cusinato

Vice Chair and Co-Head of M&A

Vice Chair and Co-Head of Mergers & Acquisitions

Tyler B. McAuley

Corporate Lawyer at Bennett Jones Toronto

Kevin Myson

Energy & Corporate Lawyer | M&A, Natural Resources & Transport

Canada&rsquo;s M&amp;A market remained resilient through the first half of 2026, with deal activity increasingly concentrated in large, strategically important transactions despite ongoing economic and geopolitical uncertainty. This quarterly update explores the sectors driving Canadian M&amp;A, including energy, digital infrastructure and real estate, and examines how policy developments, AI-related demand and shifting investment priorities are shaping dealmaking trends. It also highlights key opportunities and considerations for investors as activity is expected to accelerate in the second half of the year.