The Appeals Monitor is pleased to present our annual review of the most significant appeals of the past year that can be expected to impact Canadian businesses for years to come.
In Kaynes v BP, PLC, 2014 ONCA 580 (previously discussed here), the Court of Appeal for Ontario stayed a proposed secondary market securities class action due to forum non conveniens. Although the Court held that Ontario could assume jurisdiction over claims by Canadian residents who had purchased securities on foreign exchanges, it held Ontario should nonetheless decline jurisdiction as foreign courts were “clearly more appropriate” venues.… Continue Reading
Last month, senior McCarthy Tétrault litigator and Canadian Appeals Monitor contributor Geoff Hall generated lots of attention with his insightful post on contractual interpretation in cases where an “unthinkable” change in circumstances seems to have a profound effect on the bargain struck by the parties. Geoff’s analysis looked at a recent UK Supreme Court decision, Lloyds TSB Foundation for Scotland v. Lloyds Banking Group plc, in which an unforeseeable change to applicable accounting principles altered the definition of “profit” in a way that would have a multi-million pound impact on the parties.
This week, Mondaq recognized Geoff’s commentary as … Continue Reading
Every lawyer knows that, when interpreting a contract, one is permitted to take into account the “factual matrix” that surrounded the execution of the agreement. A question that is far less clear is the meaning of this concept — i.e., in construing the contract, what contemporaneous evidence is a court permitted to consider under the rubric of the factual matrix, and what evidence is it forbidden to consider?
Useful guidance on these matters has recently been provided by the Alberta Court of Appeal in Nexxtep Resources Ltd. v. Talisman Energy Inc., 2013 ABCA 40. At issue was the … Continue Reading