People

Services

Industries

Firm

About

Knowledge

Careers

News

Events

Contact

Connect

Privacy Policy

Disclaimer

Terms of Use

Accessibility

Legal

Calgary

Toronto

Edmonton

Ottawa

Vancouver

New York

Montréal

Mark Rasile

Financial Services Lawyer at Bennett Jones Toronto

Partner

Denise D. Bright

Public and Private Company Financial Transactions and Securities Lawyer at Bennett Jones Calgary

Partner 

Yannick Beaudoin

Project Development, Energy and Infrastructure Lawyer at Bennett Jones Montreal

<a href="/People/R/Rasile-Mark">Mark Rasile</a>, <a href="/People/B/Bright-Denise">Denise Bright</a>, <a href="/People/B/Beaudoin-Yannick">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

Restructuring, Insolvency and Complex Litigation Lawyer at Bennett Jones Toronto

Toronto Managing Partner

David S. Rotchtin

Financial Services and Corporate Commercial Lawyer at Bennett Jones Toronto

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

Sara G. Parchello

Employment Lawyer at Bennett Jones Toronto

David Cassin

Brendan J. Weiler

Employment Services Lawyer at Bennett Jones Toronto

Associate

Two recent Ontario Superior Court decisions&mdash;Li v Wayfair Canada Inc. and Jones v Strides Toronto&mdash;clarify that the phrase &ldquo;at any time&rdquo; in a termination clause does not automatically invalidate an employment agreement under the ESA. While both cases distinguish earlier restrictive rulings, ongoing inconsistencies, including the Chan decision, highlight the need for appellate guidance. Employers should continue to review contracts carefully to ensure ESA compliance.

Termination At Any Time A Review of Recent Developments

Termination “At Any Time”? A Review of Recent Developments from Li v Wayfair Canada Inc. and Jones v Strides Toronto

Mykala Way

Commercial Real Estate Lawyer at Bennett Jones Toronto

Jane C. Helmstadter

Real Estate Lawyer at Bennett Jones Toronto

The Ontario Court of Appeal&rsquo;s decision in 100 Bloor Street West Corporation v. Barry&rsquo;s Bootcamp Canada Inc. underscores the risks of vague realty tax provisions in commercial leases. The case highlights how inconsistent or ambiguous calculation methods can expose both landlords and tenants to costly litigation. Clear, consistent, and fair drafting of tax allocation clauses is essential to avoid disputes and ensure predictable outcomes.

One Method Many Taxes Lease Interpretation and Realty Tax

One Method, Many Taxes: Lease Interpretation and Realty Tax Allocation in 100 Bloor Street West v. Barry’s Bootcamp

Michelle F. Yung

Real Estate Lawyer at Bennett Jones Vancouver

Vanessa Kiraly

A recent Ontario Superior Court decision underscores the importance of precise lease drafting. In Malleum Real Estate v. Donut Monster, the court held that tenant obligations began on the fixed commencement date&mdash;regardless of unfinished landlord improvements or pandemic disruptions. The ruling highlights that assumptions cannot override clear lease terms and offers practical lessons for both landlords and tenants.

When Assumptions Break Leases The Need for Clear Terms

When Assumptions Break Leases: The Need for Clear Terms

Vasilis F. L. Pappas, FCIArb

International Arbitration Lawyer at Bennett Jones Vancouver and Calgary

Melanie Teetaert

Commercial Litigation Lawyer at Bennett Jones Vancouver

Geoffrey P. Stenger

Project Development, Energy, Infrastructure and Construction Lawyer at Bennett Jones Calgary

On October 7, 2025, British Columbia introduced Bill 20, the Construction Prompt Payment Act. If enacted, it will overhaul payment timelines and create a fast-track adjudication process for construction disputes. The legislation is expected to significantly impact owners, contractors and subcontractors across the province.

BC Introduces Prompt Payment Legislation

B.C. Introduces Prompt Payment Legislation

Benjamin K. Reingold

Intellectual Property Litigation Lawyer at Bennett Jones Calgary

Jesse Mighton

Insolvency and Restructuring Lawyer at Bennett Jones Toronto

Nyrie Israelian

Intellectual Property at Bennett Jones Toronto

The Office of the Superintendent of Bankruptcy has issued new guidance on the use of AI tools by Licensed Insolvency Trustees. The guidance underscores the need for oversight, accuracy, transparency, and adherence to professional obligations as AI becomes more integrated into insolvency practice.

OSB Issues New Guidance

OSB Issues New Guidance: What Licensed Insolvency Trustees Must Know about AI Tools 

Enbridge Northern Gateway Project Hearings Ongoing

From the Same Authors