"Two in the Bush: When Registered Security is not a Bird in the Hand", Focus on Financial Services, December 2010
Date:
December 3 2010
In this issue of Focus on Financial Services, Jennifer Dezell and Jill Macgillivray discuss two companion cases involving security granted under section 427 of the Bank Act (Canada) (the “Bank Act Security”) in competition with security granted under the Personal Property Security Act (Saskatchewan) (the “PPSA”).
The two cases, Bank of Montreal v. Innovation Credit Union and Royal Bank of Canada v. Radius Credit Union Ltd., gave the Court an opportunity to bring some clarity to what had become, in the Court’s words, “a muddled area of law”.
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