Canada: Fairmont: Ont SCJ Unwinds Share Redemption And Substitutes Loan Arrangement

The common law doctrine of rectification operates to correct mistakes in transactions that produce (or may produce) unintended and adverse tax results. This was established in the landmark case of Juliar et. al. v A.G. (Canada) (50 O.R. 3d 728) (Ont. C.A.) (Dentons was counsel to the successful taxpayers).

In Fairmont Hotels Inc. et al. v A.G. (Canada) (2014 ONSC 7302) the Ontario Superior Court of Justice has provided another example of the manner in […]

By |January 2nd, 2015|

Canada: Lau: BC SC Corrects Articles Of Incorporation After $17.3 Million Reassessment

Many tax rectification cases address situations in which certain transaction documents contain errors that do not accord with the parties’ intent to minimize or avoid taxes. However, there are several cases in which the courts are asked to correct errors in a company’s constating documents – errors that lead to unintended and adverse tax results for the company or its shareholders.

In Lau v. A.G. (Canada) (2014 BCSC 2384), the British Columbia Supreme Court considered […]

By |January 2nd, 2015|

Russian Federation: Tax And Other Concessions In The Republic Of Crimea And The Federal City Of Sevastopol

Keeping GRATA’s practice of informing clients on important legal developments that might influence their business, we would like to draw your attention to some important legal changes regarding tax, customs and some other concessions granted to persons operating in the Republic of Crimea and the Federal city of Sevastopol.

The Republic of Crimea and the federal city of Sevastopol (hereinafter – ‘Crimea’ and ‘Sevastopol’, respectively) became constituent entities of the Russian Federation on 18 March […]

By |January 1st, 2015|