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Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
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Canada | Publication | February 20, 2025
An Ontario court has delivered yet another unfortunate termination clause decision1. Employers may see articles and blogs once again announcing that a wide range of termination clauses are unenforceable and employees are free to claim expansive damages upon dismissal.
The reality is that the law of employment contract termination clauses is unsettled in Ontario at the moment, and this latest decision merely adds to the uncertainty.
This time around:
The reasoning here was that such language reserves the right to terminate when an employee is subject to legal protections, such as during a statutory leave of absence.
This ruling was made despite the fact the clause in question committed to payment of “any minimum compensation or entitlements prescribed by the Employment Standards Act.” The reasoning here was that “a regular employee cannot be expected to appreciate the difference” between scenarios in which employees are entitled to statutory amounts, and scenarios where they are not.
Both of these conclusions run counter to recent decisions from the same court – the Ontario Superior Court of Justice. Until the Ontario Court of Appeal steps in to resolve this competing case law, employers and employees cannot know whether:
Until we receive clarity, employers should:
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In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
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We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
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