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April 4 & 5, 2019

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ACIC Private Notes                       December 2018
Season's greetings, and welcome to the December 2018 edition of the ACIC Private Notes!

This edition brings you:
  • The latest legal developments from Canada (courtesy of Danielle Maksimow of Norton Rose Fulbright) and the United Kingdom (courtesy of Tom Bannister of Akin Gump); and
  • A spotlight on the newest officers and trustees of the ACIC, prepared by Lisa Love of Love and Long.
Also, in this final edition for 2018, we would like to convey our sincere appreciation to all of the authors who have contributed to the newsletter this past year. Thank you for working so hard to keep our readers up-to-date on relevant legal developments, ACIC events and more!

We wish everyone a festive holiday season and a very happy new year. See you in 2019!
International Legal Developments 
In a highly anticipated decision in Solar Power Network Inc. v. ClearFlow Energy Finance Corp., 2018 ONCA 727, a unanimous panel of the Ontario Court of Appeal rejected the lower court's findings and found in favor of ClearFlow (the lender) with respect to whether using a nominal annual rate conversion formula in a loan agreement complies with Section 4 of Canada's federal Interest Act. Click here to learn more. 

United Kingdom

In recent years, the UK government has engaged on issues relating to insolvency and corporate governance, and their reform. On August 28, 2018, the UK government published its proposals for reform and, where relevant, its suggestions for further contemplation and deliberation.  While the timeline for implementation is unclear, these proposals arguably constitute the largest overhaul of the UK corporate insolvency framework in almost 20 years. Click here to learn more.

New Officers and Trustees 
Congratulations to each of the following new officers and trustees who were elected at the October 2018 Annual Meeting:

New Officers:
  • President: Armando M. Gamboa, The Prudential Insurance Company of America
  • Vice President 1: Anthony D. Yager, Chapman and Cutler LLP
  • Vice President 2: Tina Smith, Thrivent Financial for Lutherans
  • Secretary: Renee M. Daily, Akin Gump Strauss Hauer & Feld LLP
  • Treasurer: Christopher S. Dallas, Pacific Life Insurance Company
New Trustees:
  • Bryan S. Cho, MetLife
  • Catherine Hood, Pillsbury Winthrop Shaw Pittman LLP
  • Mary Jo Quinn, Allstate Investments
To learn more about the ACIC's newest leaders, please click here.