In certain provinces, the law specifically permits the
registration of a security interest on collateral prior to the
execution of the security agreement by the debtor. By way of
example, pre-registration is permitted by the Personal Property
Security Act1 and the Bank Act2 under certain
conditions. However, lenders should be cautious when attempting to
pre-register a hypothec in the province of Québec as neither
the Regulation respecting land registration3 nor the
Regulation respecting the register of personal and movable real
rights4 provide for the
pre-registration of hypothecs.
In fact, the Civil Code of Québec prevents the
registration of an immovable hypothec prior to its signing, as it
requires that a copy or authentic extract of the deed of hypothec
be presented to the land registry office for registration.
Following registration of the immovable hypothec, a copy of the
deed constituting the hypothec is published in the land registry
and becomes available to any third party. Therefore, the
registration of a hypothec against an immovable property located in
Québec, prior to its signing by the debtor, is clearly
As to hypothecs on movable property, there is no specific
requirement that obliges the presentation of the agreement
constituting the hypothec for purposes of registration. However,
the Regulation respecting the register of personal and movable real
rights requires that the application for such registration contain,
inter alia, the reference to the agreement constituting the
security interest, including the date on which the agreement was
signed and its place of signature. Therefore, one can reasonably
infer that the possibility of registering a hypothec against
movable property, prior to the signing of the agreement
constituting such hypothec, is excluded.
However, in Mine Jeffrey Inc. (Arrangement of)5, the
Superior Court of Québec suggested that it might be possible
to pre-register a movable hypothec prior to its creation (prior to
its signing) in the case of a security interest resulting from a
leasing agreement ("crédit-bail"). This judgement
has yet to be followed by other decisions in the province of
The prospect of an internal investigation raises many thorny issues. This presentation will canvass some of the potential triggering events, and discuss how to structure an investigation, retain forensic assistance and manage the inevitable ethical issues that will arise.
From the boardroom to the shop floor, effective organizations recognize the value of having a diverse workplace. This presentation will explore effective strategies to promote diversity, defeat bias and encourage a broader community outlook.
Staying local but going global presents its challenges. Gowling WLG lawyers offer an international roundtable on doing business in the U.K., France, Germany, China and Russia. This three-hour session will videoconference in lawyers from around the world to discuss business and intellectual property hurdles.
On March 31, 2014, BC's new Wills, Estates and Succession Act1 ("WESA") will come into force. WESA introduces new protections for beneficiaries of estates that are in danger of being disputed or deemed ineffective by a court.
It is not uncommon for parents to provide monetary gifts to their adult children. Parents may wish to help their child with a down payment on a property, or help pay out their child's existing mortgage.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).