Canada, as is the case with other advanced jurisdictions, is
experiencing significant growth in the use of arbitrations to
resolve commercial disputes.
Although Toronto, in particular, is blessed with the Commercial
List of the Ontario Superior Court, an expeditious court facility,
many corporations, both domestic and foreign, have found that
arbitration has additional advantages, including procedural
flexibility, access to expert arbitrators, and excellent
Toronto has become a significant centre not only for domestic
arbitrations, of which there are many, but also for international
arbitrations, a growing number of which corporations are choosing
to conduct in Canada.
There are several reasons for this choice. Canada has an
excellent reputation for high quality legal services and fair
adjudications. Canadian commercial counsel, both in Toronto and
elsewhere, are very capable. Canadian courts, and the legal system
in Canada generally, are known for the fairness of their rulings.
Expenses incurred are often much less than what is paid for
comparable proceedings in other international centres such as
London, New York, Hong Kong and Singapore.
Last but not least, Canada has available to those who choose it
as their arbitration venue a large number of excellent arbitrators,
both in the ranks of retired judges and seasoned legal counsel.
Arbitrations can offer a number of advantages: speedy
determination of disputes; finality, without costly appeals; and
the opportunity for the successful party to obtain full
indemnification for costs.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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