A recent decision Yaiguaje v. Chevron Corporation, 2017 ONSC 135 has sparked debate around whether Hainey J. was correct to rule that the corporate veil could not be pierced.
We all hate passwords. Anyone who says s/he doesn’t is fibbing.
I had an experience recently, while at the International Bar Association conference in Washington, that renewed my hatred for passwords. The word “hatred” is inadequate to express how I actually feel about passwords – it’s more like the white-hot radiation of a million simultaneous supernovas.
I’ve been writing a lot lately on blockchains and how blockchain technology intersects with the law. It’s interesting stuff.
Now I want to write a bit about digital currencies, particularly since there are now encrypted digital currencies – like Bitcoin – that are enabled by blockchain technology. If you don’t know what blockchain technology is, take a peek at one of my earlier posts on the subject. (Just don’t operate heavy equipment or drive after reading. I won’t be responsible.)
The Canadian Securities Administrators have announced final amendments (the “Amendments”) to the early warning system designed to provide greater transparency about the securities holdings of Canadian reporting issuers. The Amendments are expected to come into force on May 9, 2016 throughout Canada.
The current early warning system is designed to disseminate information to market participants once certain security holders obtain ownership, control or direction over 10% of a certain class of voting or equity securities of a Canadian reporting issuer, and each subsequent 2% increase thereafter. The Amendments will, among other things, require disclosures of both subsequent increases and decreases of ownership.
The Canadian Securities Administrators (“CSA”) have announced major amendments (the “Amendments”) to the Canadian take-over bid regime that are expected to come into force on May 9, 2016 throughout Canada.
The Amendments reflect a re-balancing of the dynamics among offerors, offeree issuer board of directors (“offeree boards”) and offeree issuer security holders (“offeree security holders”). According to the CSA, the Amendments are intended to (i) facilitate the ability of offeree security holders to make voluntary, informed and co-ordinated tender decisions, and (ii) provide offeree boards with additional time and discretion when responding to a takeover bid. In effect, the Amendments take many aspects of privately-enacted shareholder rights plans and turn them into mandatory default rules for Canadian issuers.
What the Heck is the Blockchain?
No, it’s not a chain that stretches around your block. It is a peer-to-peer managed, publicly readable and secure database, chunks of which are located in multiple places. Each “place” (or node) is an isolated and independent computer on a network. Each computer is equipped with special software for management of the blockchain. The blockchain database itself contains an ever-expanding list of verified transaction data. Think of a blockchain as a bullet-proof record of proven transactions that everybody (with the appropriate software) can check.