Osler Updates

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Competition Bureau Signals Increased Scrutiny of Patent Litigation Settlement Agreements

Patent litigation settlement agreements took centre stage in a speech by the Commissioner of Competition and related White Paper – Patent Litigation Settlement Agreements: A Canadian Perspective – issued by the Competition Bureau on September 23, 2014. This is the most detailed guidance provided by the Bureau regarding the application of the Competition Act to patent litigation settlement agreements in the pharmaceutical industry.

Sept 30, 2014

Further Toughening of Canada’s Sanctions Against Russia

The Canadian government recently imposed increasingly broader and tougher sanctions targeting Russian individuals and entities, and key sectors of Russia’s economy. The latest amendments implemented on September 17, 2014 expand upon a previous round of sanctions made effective on July 24, 2014, which prohibited persons in Canada and Canadians abroad from transacting in new debt and equity financings of certain listed Russian entities.

Sept 23, 2014

OECD Releases 2014 BEPS Deliverables

On September 16, 2014, the OECD released the first seven of 15 deliverables promised as part of the OECD/G20 base erosion and profit shifting (BEPS) Action Plan. This Update summarizes the principal aspects of this release, including reports on the Digital Economy (Action 1); Hybrid Mismatch Arrangements (Action 2); Harmful Tax Practices (Action 5); Tax Treaty Abuse (Action 6); Transfer Pricing & Intangibles (Action 8); Transfer Pricing Documentation and Country-by-Country Reporting (Action 13); and Developing a Multilateral Instrument (Action 15). 

Sept 16, 2014

Canadian Securities Administrators Propose Significant Amendments to Take-Over Bid Regime

The Canadian Securities Administrators (CSA) have announced that they intend to publish for comment amendments (the Proposed Bid Amendments) that, if implemented, will result in significant changes to the take-over bid regime in Canada. 

Sept 12, 2014

The Uncertain Future of Predicted Utility

There is no more contentious question in Canadian patent law at the moment than the question of utility. Much of the debate focuses on whether an invention need only have a scintilla of utility or whether utility must be measured against the promise of the patent. 

Sept 10, 2014

Ontario Superior Court Upholds Consultation

In Wabauskang First Nation v. Minister of Northern Development and Mines et al., the Ontario Superior Court of Justice made a significant observation confirming earlier guidance from numerous court cases across Canada, finding that if there had been an improper delegation or a failure to fulfill the duty to consult, the remedy would have gone against Ontario and not against Rubicon. 

Sept 5, 2014

Dois-je vraiment conserver tous ces documents?

Considérant la nature à long terme des régimes de retraite, les principes de bonne gouvernance exigent qu’un administrateur conserve certains documents relatifs au régime. De bonnes pratiques de conservation de documents sont également essentielles pour se protéger contre d’éventuelles réclamations. Il arrive parfois que d’anciens employés réapparaissent dix ou même 20 ans après leur terminaison d’emploi pour réclamer « leur pension ». 

September 2014

Pension Innovation

Pension reform is a hot button issue, with many Canadians aware of the challenges facing traditional pension plans today. Now is the time for both public and private sector plans to evolve in response to growing sustainability concerns so that employees may retire securely. 

September 2014

OSC Rejection of Insider Trading Allegations Emphasizes Prosecution Difficulties

On August 26, a panel of the Ontario Securities Commission released its highly anticipated decision involving allegations of insider trading, tipping and conduct contrary to the public interest in connection with the hostile takeover bid of Baffinland Iron Mines Corporation by Nunavut Iron Ore Acquisition Inc. The decision dismissed all allegations against the respondents, once again demonstrating the difficulties in prosecuting such cases. 

Aug 28, 2014

Ontario Court Of Appeal Upholds Finding of Breach of Fiduciary Duty Respecting Executive Compensation

The Ontario Court of Appeal recently upheld a trial court decision which concluded that the CEO, who was also a director, breached his fiduciary duty to the corporation when the directors of Unique Broadband Systems, Inc. approved changes to a share appreciation rights plan and an extraordinary bonus.

Aug 20, 2014