Canada
Canadian Province Proposes Surety Bonds as Option for Securing Municipal Obligations
In a development related to past reporting of standby and bond usage at the municipal level in Canada, the Canadian
Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2024]
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
Eurobank Ergasias S.A. v. Bombardier Inc. [2024]
The Canadian Supreme Court affirmed Quebec appellate and trial courts, upholding permanent injunction restraining Counter-Guarantor against payment of demand by Counter-Guarantee Beneficiary.
Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2023]
Canada's Court of King’s Bench of Alberta denied injunction application of LC Applicant who sought to enjoin Beneficiary demand on standby LC.
Eurobank Ergasias S.A. v. Bombardier Inc.:
Guarantors Caught Between Home Courts That Do Not Apply the Fraud Exception and Courts in the Counter-Guarantor's Country