More Regulatory Reviews Will Be Resolved With Litigation

In recent years we have observed that merger reviews under the Competition Act are becoming more complex and that regulatory intervention under the Investment Canada Act is increasing, particularly in connection with small, non-reportable transactions. A consequence of this trend is that some parties are opting to litigate, and we expect this to continue in 2016.

Recent Regulatory Disputes in Canada

In 2015, its ruling in the Tervita case marked The Supreme Court of Canada's first merger decision under the Competition Act since 1997. The transaction involved the acquisition of a waste landfill site with a value of only C$6 million, falling well below the notification threshold for mandatory merger review under the Competition Act. In allowing the merger, the Court resolved a matter that had begun in 2010, when the deal was originally challenged by the Competition Bureau. The case involved complex litigation proceedings before the Competition Tribunal and Federal