March 05, 2019
Partner David Outerbridge spoke with Law Times regarding the Ontario Court of Appeal’s ruling in Solar Power Network Inc. v. ClearFlow Energy Finance Corp., and the uncertainty surrounding the disclosure requirements under section 4 of the federal Interest Act.
“The Court of Appeal overruled two very problematic findings relating to section 4,” David told Law Times.
Despite this, there is still a fair amount of uncertainty around disclosure requirements and loan agreements, the duration of which depends on whether the Supreme Court of Canada grants leave to appeal from the unanimous decision, which was filed in November.
“We expect a decision on the leave application in the spring,” David said.
David, along with Torys partner Patricia Jackson, represented the Canadian Bankers’ Association, interveners in the case.
For more expertise on recent appeals, visit the relevant practice page.