Court of Appeal Decides Fate of “Crypto King” $500,000 Deposit

In 2021, the self-proclaimed “Crypto King,” along with an associate, paid a $500,000 deposit to purchase a commercial real estate property to store their exotic car collection. The “Crypto King,” Aiden Pleterski, had received more than $40 million from investors who thought they were investing in cryptocurrency. The investors had never authorized Mr. Pleterski to …

When Property Managers Change Jobs: Who Keeps the Client?

In the property management industry, where everything is deeply competitive, a critical question is whether or not a property manager is entitled to switch from one property management company to another and, at the same time, continue servicing the same condominium building with the property manager’s new employer. For example, suppose John is a property …

Commercial Lease Modifications: Why Oral Agreements Don’t Hold Up in Court

Most people likely understand the risks of trying to rely on an oral agreement to vary the terms of a commercial lease. Nonetheless, parties often get into disputes over whether there was an oral agreement that varied the terms of a lease. A recent Ontario decision, Parkland Corporation v. Caledon Fuels Inc.[1], confirms the risk …

Delaware Corporate Law to Follow Canadian Corporate Law

Corporate lawyers in Canada tend to follow decisions of the Delaware Courts involving corporate governance and shareholder matters, as decisions of the Delaware Courts are often a bellwether as to how certain aspects of corporate law may evolve in Canada, or at least be considered. The recent Decision of the Delaware Court of Chancery, West …

Are You Getting Bang for Your Buck with Canadian Trademarks?

On January 1, 2024, the Canadian Intellectual Property Office (CIPO) introduced significant increases to the government fees it levies on actions before the Canadian Trademarks Office, including fee increases of over 30% for filing applications and renewing registrations. Similar fee increases have also been implemented for opposition and non-use cancellation proceedings, among other transactions. With …

Dissent Rights and Shareholder Agreements – New Ruling Provides Guidance

Dissent rights, entrenched in most provincial corporate statutes, grant shareholders the power to contest significant corporate changes and compel the corporation to repurchase their shares at a fair market value. Central to the enforcement of these rights is the statutory framework, which can result in either an amicable valuation agreement or a court-mandated determination of …

When development deals go wrong, damages come in the form of land value, not lost profits

This column was originally published on RENX.ca. When a deal to buy and sell land for development goes awry, an innocent purchaser can sue for the damages suffered. However, in most cases, the measure of damages will be the difference between the purchase price of the land and the market value on the closing date. Lost …

Mass fraud, arson threats, murder, organized crime, kidnapping: What are the limits of ‘buyer beware’?

This column was originally published on RENX.ca. In an episode of The Simpsons in the late ’90s, Marge Simpson takes a job as a real estate agent to make some extra cash. She made her first sale by selling a big, reasonably priced home to the Flanders family. In her haste to close the deal and despite her …

Are written agreements and signatures required to make deals enforceable? Not always.

This column was originally published on RENX.ca. In the realm of real estate transactions, it’s well understood that for a purchase and sale contract to be legitimate, it must, at the very least, outline the identity of involved parties, describe the property in question and set forth the purchase price. There is also an implied mandatory …

Bullying and Legal Ethics: A Warning from Singh v Braich

In the legal world, mutual respect between counsel and adherence to professional standards are not just niceties – they are the cornerstone of a functional and effective justice system. A recent case, Singh v Braich, provides a stark reminder that lawyers have a professional responsibility to be courteous, particularly in interactions with junior colleagues, and …