CHAPTER 16 Civil Litigation
In Québec, the Autorité des marchés financiers (AMF) administers all the laws governing the supervision of Québec’s financial sector, including the securities sector. Québec’s independent Financial Markets Administrative Tribunal (Tribunal administratif des marchés financiers, or TMF) exercises certain powers provided for in the Québec Securities Act . The TMF can, for example, make an order regarding a takeover bid or issuer bid, order the cessation of an activity in respect of a transaction in securities or derivatives, or make an order prohibiting a person from acting as a director or senior executive. Once filed with the Superior Court, a decision of the TMF becomes executory in the same way as a decision of the Superior Court. The TMF can also review decisions of the AMF. The TMF has its own rules of procedure. Some decisions of the AMF or the TMF can be appealed to a court, but others are final.
In Ontario, most proceedings commenced in the Superior Court are subject to mandatory mediation. There are exceptions to this general rule, including actions that are listed on the Commercial List, a specialized division of the Superior Court in Toronto that deals with complex commercial matters. In Québec, parties are required to consider private prevention and resolution processes (like mediation and arbitration) before referring their disputes to the courts. In practice, however, this requirement is largely ignored. The Québec courts also provide the option, at any stage of the proceedings, of settlement conferences that are conducted by a judge in private, confidentially, without prejudice and at no cost to the parties. Parties to litigation in Québec may also agree to appoint a private mediator to hold a settlement mediation.
Alternative Dispute Resolution
In Canada, disputes can be resolved by agreement of the parties through various alternative dispute resolution (ADR) mechanisms, including mediation and/or arbitration. MEDIATION Mediation involves a neutral mediator who assesses the dispute between the parties and attempts to facilitate a settlement. Mediation is generally non-binding in nature and can result in a resolution of a dispute only if all the parties to the dispute agree to the terms of a settlement.
In Canada, disputes can be resolved by agreement of the parties through various alternative dispute resolution mechanisms, including mediation and/or arbitration.
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