On Tuesday, November 5, 2013, British Columbia and Alberta announced that the provinces have entered a framework agreement on moving energy resources to new markets and confirmed certain principles that will apply to the development of heavy oil pipelines from Alberta’s oil sands to the BC coast.
The results are in for Q3-2013 Canadian M&A and the outlook is decidedly mixed. While Q3 M&A activity rose sharply on a value basis as compared to Q2-2013, Q3 volume was down from last quarter and overall 2013 M&A remains in a slump at the lowest levels in nearly a decade.
On October 28, OSFI released its Cyber Security Self-Assessment Guidance (the “Guidance”) to aid Federally Regulated Financial Institutions (“FRFI”) in assessing its level of preparedness against cyber risks. The Guidance was drafted in response to OSFI’s Plans and Priorities for 2013-2016, a plan that emphasizes vigilance against the increasing frequency and sophistication of cyber threats.
In the case of XY, LLC v. Zhu, 2013 BCCA 352¸ the B.C. Court of Appeal has confirmed that employees of a company can be personally liable for the breach of a technology license agreement by their employer.
The recent In re Puda Coal, Inc. Stockholders Litigation decision serves as a cautionary note to directors of corporations with significant activities overseas.