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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 

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

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

The U.S. and global economies proved resilient in 2025. There were reasons, particularly around U.S. President Donald Trump&rsquo;s April 1 &ldquo;Liberation Day,&rdquo; to fear a global trade war or corrections in financial markets that would cause a recession in the United States and a sharp slowing of the global economy. In fact, while growth in the United States and most major economies slowed in 2025, other policy and market factors offset at least in part the early effect of disruptive policies by the U.S. administration. The United States&rsquo;s trading partners chose to avoid an all-out trade war, and most negotiated some form of accommodation with President Trump.

Economic Outlook 2026

Adapting to a New World: From Ambition to Investment

Ahmed Elmallah

Intellectual Property Lawyer at Bennett Jones Edmonton

Counsel, Patent Agent, Trademark Agent

Benjamin K. Reingold

Intellectual Property Litigation Lawyer at Bennett Jones Calgary

Stephen D. Burns

Technology Lawyer, Intellectual Property Lawyer at Bennett Jones Calgary

Partner, Trademark Agent

Stephen Thaler has appealed the Commissioner of Patents&rsquo; refusal to recognize his AI system, DABUS, as an inventor under the Patent Act. The case raises legal and practical questions as AI systems play a growing role in generating novel inventions. The outcome could influence how Canadian innovators protect AI-driven discoveries, particularly in pharmaceutical R&amp;D.

Appeal Filed Thaler Challenges Refusal to Recognize AI

Appeal Filed: Thaler Challenges Refusal to Recognize AI as an Inventor on a Patent—Implications Beyond Inventorship

David Wainer

Commercial Transactions Lawyer at Bennett Jones Calgary

Associate

This end-of-year overview examines the Federal Government&rsquo;s rapid expansion of AI-related funding in 2025, from large-scale investments in data centres and public compute infrastructure to programs supporting AI access, adoption and domestic research. It also explores the new commitments announced in Budget 2025 and signals key trends to watch in 2026 as Canada strengthens its AI ecosystem.

Canadas AI Efforts in 2025 A Year in Review

Canada's AI Efforts in 2025: A Year in Review

Laura Inglis

Commercial Litigation Lawyer at Bennett Jones Edmonton

Christine Plante

Civil Fraud Recovery, Employment and Shareholder Disputes Lawyer at Bennett Jones Calgary

David M. Price

Employment Services Lawyer at Bennett Jones Calgary

Effective January 1, 2026, Alberta will increase job-protected long-term illness and injury leave from 16 to 27 weeks. This update aligns Alberta with other leading Canadian jurisdictions that recently implemented similar extended leaves. Employers will need to revisit their workplace policies to ensure compliance with the new requirements. The blog explains the legislative amendments and their implications for employers.

Alberta Aligns with Other Provinces in Extending Long Term Illness and Injury Leave

Ashley L. Paterson

Commercial Litigation Lawyer at Bennett Jones Toronto

Morgan Sutherland

Lawyer at Bennett Jones Toronto

Associate 

Health Canada has proposed amendments to the Medical Devices Regulations focused on modernizing the MDEL framework. The changes would affect importer&ndash;distributor relationships, mandatory supplier disclosures, and safety documentation requirements. This update summarizes the key proposals and their potential impacts on MDEL holders and applicants.

Enbridge Northern Gateway Project Hearings Ongoing

From the Same Authors