Insider trading ruling highlights differences between Quebec and the rest of Canada

ruling that dismissed allegations that a former chief executive officer improperly profited from inside trading nearly a decade ago provides guidance over allegations of insider trading, clarifies insider trading rules applicable to corporate officers, and sheds light on the meaning of privileged information under the Quebec Securities Act (Act).

“It’s an important decision in the sense that it is one of the only, if not the only case in Quebec, where there is a judgment following a civil action based on an allegation of insider trading,” noted Raynold Langlois, who successfully defended Claude Chagnon against an action seeking damages of more than $23 million brought by Quebecor Media Inc. and Vidéotron Group Ltd.

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Mother wins battle to move to France with children

A lower court ruling that prohibited a French mother of two from moving from Quebec to her native country under penalty of losing custody was recently overturned by the Quebec Court of Appeal.

In a unanimous ruling, the appeal court issued a warning to courts of first instance that they must be cautious when weighing the “undeniable contribution” of expert’s opinions and bear in mind that “questions over custody and the criteria of who should have right to custody are issues that also call for legal notions,” said Quebec Court of Appeal Judge France Thibeault.

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Man ordered to pay $39,000 for illicitly filming sexual escapades

A Quebecer who filmed and took pictures of sexual escapades with a 20-year old woman and then distributed it on the Internet was ordered to pay $39,000 in damages.

In a brief four-page ruling, Quebec Superior Court Judge Sylviane Borenstein held that the man breached her fundamental rights by intentionally and illicitly invading her privacy, and that his conduct cannot be tolerated or trivialized by the courts. “The actions were ignoble and the Court expresses its indignation over these actions. One can understand that the woman, who is only 20 years old, feels betrayed and humiliated,” said Justice Borenstein in J.G. c. M.B., 2009 QCCS 2765

The Court issued a publication order that forbids media from identifying the parties in order not to aggravate the harm she has suffered.

Judge Borenstein barred the man from communicating, distributing, publishing, reproducing, or transmitting pictures, e-mails or videos of the filmed events as well as prohibited him from reaching her in any way. Further, the Court prohibited him from having in his possession photographs and videos of the plaintiff.

He was also ordered to pay for costs stemming from an Anton Piller order that was issued. An Anton Piller order is a court order that provides the right to search premises and seize evidence without prior warning.

A Quebecer who filmed his sexual escapades with a 20-year old woman and then distributed it on the Internet was condemned to pay $39,000 in damages.In a brief four-page ruling, Quebec Superior Court Judge Sylviane Borenstein held that the man breached her fundamental rights by intentionally and illicitly invading her privacy, and that his conduct cannot be tolerated or trivialized by the courts. “The actions were ignoble and the Court expresses its indignation over these actions. One can understand that the woman, who is only 20 years old, feels betrayed and humiliated.”

The Court issued a publication order that forbids media from identifying the parties in order not to aggravate the harm she has suffered.

Judge Borenstein barred the man from communicating, distributing, publishing, reproducing, or transmitting pictures, e-mails or videos of the filmed events as well as prohibited him from reaching her in any way. Further, the Court prohibited him from having in his possession photographs and videos of the plaintiff.

He was also ordered to pay for costs stemming from an Anton Piller order that was issued. An Anton Piller order is a court order that provides the right to search premises and seize evidence without prior warning.

Canadian banks dodge a bullet

When the American Bar Association Section of Business Law held its spring meeting in mid-April in Vancouver to discuss the legal impacts of the global financial crisis, Canada’s financial system, now being feted around the world for its resilience amid global financial turmoil, was once again in the spotlight, with the most powerful woman in Canadian banking holding centre-stage.

“I would have been surprised if the ABA had invited the Superintendent of the Office of Financial Institutions (OSFI) a year ago – that’s another indication that the relative status and stature of the Canadian financial system has been elevated, and it’s not unjustified,” remarked Jeffrey Graham, a partner with Borden Ladner Gervais in Toronto. Continue reading “Canadian banks dodge a bullet”

Privacy rights overlooked in bankruptcies and insolvencies

Eight years after the federal government introduced legislation that applies to the collection, use and disclosure of personal information in the course of any private sector commercial activity, corporate lawyers pay little heed to privacy rights in bankruptcy and insolvency proceedings.

“Candidly, we on the insolvency side pay lip service to privacy,” acknowledged Kenneth Kraft, a partner with the financial services group at Heenan Blaikie, specializing in insolvency and finance. “It’s not something that we give much thought to.”

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Quebec Crown Prosecutors overworked and underpaid, says Association

Exasperated that ongoing discussions with the Quebec government to improve working conditions have led to little progress, the Quebec Association of Crown Prosecutors has publicly taken to task the provincial government for the second time in three months.

The association is calling on the provincial government to hire another 220 crown prosecutors in order to halt an exodus of experienced lawyers resigning from their jobs to accept higher-paying positions. Over the past year, seven crown prosecutors quit their jobs at the Montreal courthouse, three of whom became Alberta provincial prosecutors where salaries are 40 per cent higher, says Association president Christian Leblanc.

“We cannot do the work with 430 prosecutors,” said Leblanc, a provincial crown prosecutor for the past 13 years. “We need at least 650 prosecutors in order to be able to adequately prepare our cases, meet with victims and witnesses, and read the jurisprudence. What we are denouncing, above all, is the workload. There is no doubt that it is having a negative impact on the quality of service we are able to offer to the public.” Continue reading “Quebec Crown Prosecutors overworked and underpaid, says Association”

Appeal court orders new trial after language rights not respected

For the third time since 2005 the Quebec Court of Appeal has allowed an appeal and ordered a new trial because of the failure to respect the language rights of an accused in a ruling that admonishes trial judges and Crown counsel for failing to protect them.

In setting aside the guilty verdict of second degree murder delivered on June 2006 by a Quebec Superior Court jury, the appeal court found that the rights of Bertam Dow under under governing appellate case law interpreting s. 530.1 of the Criminal Code, and s.14 of the Canadian Charter of Rights and Freedoms were not respected, and hence the curative provisions of sub-section 686(1)(b) Cr. C. cannot be applied.

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Appeal court takes tougher line on spousal support

When the Quebec Court of Appeal recently overturned an order that compelled a financial analyst to pay his ex-wife spousal support for an indefinite period, it caught family law experts by surprise.

Even though s. 15.2(3) of the Divorce Act, which came into force in 1985, allows judges to make an order requiring a spouse to secure and pay his ex-spouse sums for a definite period or until a specified event occurs, the appeal court has traditionally shunned from applying such orders and almost always have overturned lower court rulings that issued that time-limited support orders, particularly if children are in the picture and the spouse – usually women – have been out of the workplace for a long time.

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