Justice Sharlow wrote for the panel which also included Justice
Evans and Justice Stratas. She agreed with the reasoning
of the trial judge that
Ikea Ltd. v. Canada is indeed the leading case on the
characterization of extraordinary or unusual receipts in the
business context, and found that his application of the principles
stated by the Supreme Court of Canada in Ikea was correct. The
court noted that Ikea was not based on a
particular factual finding, but "involved consideration
of a number of factors, including the commercial purpose of the
payment and its relationship to the business operations of the
The Court of Appeal found that the trial judge made no
error in concluding, on the facts of the case, that the break fee
received by Morguard as the result of a failed takeover bid
was income and not capital. The appeal was dismissed with
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Ten days following the election, join us for a discussion with Gary Doer, former Canadian Ambassador to the US, and Gordon Giffin, US Ambassador to Canada under Bill Clinton, to discuss how the new President and Congressional makeup will shape US-Canada relations for years to come.
On November 8, 2016, the United States will go to the polls to elect their 45th president. Whether it is Hillary Clinton or Donald Trump, this decision will profoundly shape American policy for the next four to eight years. As our largest trading partner and neighbour to the south, the next US administration will influence a broad range of policy issues that directly impact Canada. These include the future of NAFTA and the TPP, the Arctic and geo-politics, the renewal of the Softwood Lumber Agreement, and the energy sector.
On Thursday, September 22, 2016, Dentons hosted a panel discussion about the management of liabilities and risks associated with environmental crises, including potential liabilities for directors and officers and provided insight into risk and liability techniques associated with environmental crisis management.
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