Stockwoods successfully resists Norwich injunction against a Regulator

Stockwoods lawyers Luisa Ritacca and Carlo Di Carlo successfully represented the Investment Industry Regulatory Organization of Canada (IIROC) in an application that Harrington Global Limited, a hedge fund, brought against it seeking a Norwich Order requiring production of certain information.  The application related to the trading of a pharmaceutical company, Concordia International Corp.  The shares of Concordia plummeted between 2016 and 2018.  Harrington claimed that it suffered a loss as a result, and that this loss was caused by manipulative trading.  IIROC, as the regulator of investment dealers that sell investment products, was in possession of certain information relating to Concordia as a result of its market surveillance function, as well as an investigation of trading of Concordia that it undertook.  Harrington brought the application seeking an order that IIROC be required to provide it with this information.

The application was rejected. The Court noted, among other things, that the balance of interests favoured protecting IIROC’s status as a regulator and its ability to fulfill this role.  This is a decision that is likely to have ramifications for other regulators.  In particular, the rationale dismissing the application would be applicable to other regulators that seek to resist injunctive relief, particularly a Norwich Order.

A copy of the decision is here.

Gerald Chan named a 2021 Acritas Star

Stockwoods argues cyber-crime case in the Supreme Court of Canada

MARCH 2021 ISSUE OF THE STOCKWOODS ADMINISTRATIVE AND REGULATORY LAW CASE REVIEW

Brian Gover elected Secretary of International Relations of the International Academy of Trial Lawyers

Stockwoods Sponsors 14th Annual FACL Ontario Conference

New (festive) issue of the Administrative and Regulatory Law Case Review now available

Sam Robinson and Caitlin Milne successfully defend improvident sale action

Groundbreaking Climate Change Constitutional Challenge Allowed to Proceed

Gerald Chan speaks at The Advocates’ Society on Equity, Diversity and Inclusion

New issue of the Administrative and Regulatory Law Case Review now available

STOCKWOODS SUCCESSFUL IN UPHOLDING ORDER FOR ACCESS TO GOVERNMENT MANDATE LETTERS

Stockwoods Succeeds in Constitutional Challenge to Law Barring Conditional Sentences

Stockwoods Obtains Relief from Forfeiture in Real Estate Transaction

New issue of the Stockwoods Administrative & Regulatory Law Case Review

Paul Le Vay and Stephen Aylward succeed at the Court of Appeal
- Find a Lawyer -

Paul Le Vay

Brian Gover

Luisa Ritacca

Brendan van Niejenhuis

Samuel M. Robinson

Andrea Gonsalves

Gerald Chan

Nader R. Hasan

Edward (Ted) Marrocco

Justin Safayeni

Fredrick Schumann

Carlo Di Carlo

Stephen Aylward

Ryann Atkins

Karen Bernofsky

Caitlin Milne

Gillian Moore

Dragana Rakic

Spencer Bass

Zachary Al-Khatib

Ephry Mudryk