Das V. George Weston Limited, 2017 ONSC 4129 COURT FILE NO.: CV-15-526628CP DATE: 20170705 ONTARIO SUPERIOR COURT of JUSTICE

Total Page:16

File Type:pdf, Size:1020Kb

Das V. George Weston Limited, 2017 ONSC 4129 COURT FILE NO.: CV-15-526628CP DATE: 20170705 ONTARIO SUPERIOR COURT of JUSTICE CITATION: Das v. George Weston Limited, 2017 ONSC 4129 COURT FILE NO.: CV-15-526628CP DATE: 20170705 ONTARIO SUPERIOR COURT OF JUSTICE BETWEEN: ) ) ARATI RANI DAS, REHANA KHATUN, ) Joel P. Rochon, Peter R. Jervis, Lisa M. MOHAMED ALAUDDIN, and KASHEM ) Fenech and Golnaz Nayerahmadi for the ALI ) Plaintiffs ) 2017 ONSC 4129 (CanLII) Plaintiffs ) – and – ) ) GEORGE WESTON LIMITED, ) Christopher D. Bredt, Markus Kremer, and LOBLAWS COMPANIES LIMITED, ) Alannah Fotheringham for the Defendants LOBLAWS INC., JOE FRESH APPAREL ) George Weston Limited, Loblaws CANADA INC., BUREAU VERITAS – ) Companies Limited, Loblaws Inc., Joe Fresh REGISTRE INTERNATIONAL DE ) Apparel Canada Inc. CLASSIFICATION DE NAVIRES ET D’AERONEFS SA, BUREAU VERITAS ) Michael A. Eizenga, Ranjan K. Agarwal, and CONSUMER PRODUCT SERVICES, ) Gannon G. Beaulne for the Defendants INC. and BUREAU VERITAS ) Bureau Veritas – Registre International de CONSUMER PRODUCTS SERVICES ) Classification de Navires et d’Aeronefs SA, (BD) LTD. ) Bureau Veritas Consumer Product Services ) Inc. and Bureau Veritas Consumer Products Defendants Services (BD) Ltd. ) ) Brent Kettles and Lisa La Horey for the ) Attorney General of Ontario, Intervenor ) Proceeding under the Class Proceedings Act, 1992 ) HEARD: April 3-7, 10-13, 2017 PERELL, J. REASONS FOR DECISION 25 And behold, a lawyer stood up to put him to the At present, I content myself with pointing out that test, saying, “Teacher, what shall I do to inherit in English law there must be, and is, some general eternal life?” 26 He said to him, “What is written in conception of relations giving rise to a duty of the Law? How do you read it?” 27 And he answered, care, of which the particular cases found in the “You shall love the Lord your God with all your books are but instances. The liability for heart and with all your soul and with all your strength negligence, whether you style it such or treat it as 2 and with all your mind, and your neighbour as in the other systems as a species of 'culpa', is no yourself.” 28 And he said to him, “You have answered doubt based upon a general public sentiment of correctly; do this, and you will live.” 29 But he, moral wrongdoing for which the offender must desiring to justify himself, said to Jesus, “And who is pay. But acts or omissions which any moral code my neighbour?” 30 Jesus replied, “A man was going would censure cannot in a practical world be down from Jerusalem to Jericho, and he fell among treated so as to give a right to every person injured robbers, who stripped him and beat him and by them to demand relief. In this way rules of law departed, leaving him half dead. 31 Now by chance a arise which limit the range of complainants and the priest was going down that road, and when he saw extent of their remedy. The rule that you are to him he passed by on the other side. 32 So likewise a love your neighbour becomes in law, you must not Levite, when he came to the place and saw him, injure your neighbour; and the lawyer's question, passed by on the other side. 33 But a Samaritan, as he who is my neighbour? receives a restricted reply. journeyed, came to where he was, and when he saw You must take reasonable care to avoid acts or him, he had compassion. 34 He went to him and omissions which you can reasonably foresee would bound up his wounds, pouring on oil and wine. Then be likely to injure your neighbour. Who, then, in he set him on his own animal and brought him to an law is my neighbour? The answer seems to be -- 35 inn and took care of him. And the next day he took persons who are so closely and directly affected by 2017 ONSC 4129 (CanLII) out two denarii and gave them to the innkeeper, my act that I ought reasonably to have them in saying, “Take care of him, and whatever more you contemplation as being so affected when I am spend, I will repay you when I come back.” 36 Which directing my mind to the acts or omissions which of these three, do you think, proved to be a neighbour are called in question. to the man who fell among the robbers?” 37 He said, [Donoghue v. Stevenson, [1932] AC 562 at p. 580] “The one who showed him mercy.” And Jesus said to him, “You go, and do likewise.” [Luke 10:25-37] A. Introduction and Overview [1] For many years, Loblaws, Canada’s largest retailer, purchased clothes from a manufacturer whose factory was in the Rana Plaza, a building in Bangladesh. On April 24, 2013, the Rana Plaza collapsed. 1,130 people died, and 2,520 people were seriously injured. On April 22, 2015, just before the second anniversary of the tragedy, four citizens of Bangladesh commenced a proposed class action in Ontario against Loblaws. [2] The Plaintiffs are Mohamed Alauddin, Arati Rani Das, and Rehana Khatun, who were among the injured garment workers, and Kashem Ali, whose two sons and a daughter-in-law were garment workers that died in the collapse. [3] The Plaintiffs’ action is brought pursuant to the Class Proceedings Act, 1992, S.O. 1992, c. 6. It is against George Weston Limited, Loblaws Companies Limited, Loblaws Inc., and Joe Fresh Apparel Canada Inc. (collectively, “Loblaws”). It is also against Bureau Veritas - Registre International de Classification de Navires et d’Aeronefs SA, Bureau Veritas Consumer Product Services Inc., and Bureau Veritas Consumer Products Services (BD) Ltd. (collectively “Bureau Veritas”). Bureau Veritas is a consulting services enterprise that Loblaws had retained to conduct what is known as a “social audit” of factories in Bangladesh, including one of the factories in Rana Plaza. [4] There are now multi-faceted motions before the court; the Plaintiffs’ motion for certification of their action as a class proceeding, and the Defendants’ motions to have the proposed class action dismissed. The opposing motions raise numerous issues including: 3 Does an Ontario court have jurisdiction simpliciter (territorial and subject-matter jurisdiction) for the proposed class action? Would it be unconstitutional for an Ontario court to assume jurisdiction simpliciter over putative Class Members who are “Absent Foreign Claimants;” i.e., persons: (a) who are resident outside of Ontario; and (b) who have not formally attorned to the jurisdiction of the court? If the Ontario court has jurisdiction simpliciter, how is choice of law determined and what is the choice of law to determine liability? If Bangladesh tort law applies, is it ousted to be replaced by Ontario law? o In this regard, is Bangladesh law ousted because it is uncertain, nascent, or underdeveloped? o In this regard, is Bangladesh law ousted on grounds of public policy because it 2017 ONSC 4129 (CanLII) includes Sharia law that discriminate between male and female heirs of a wrongful death claimant? o In this regard, is Bangladesh law ousted because it has not recognized the remedy of punitive damages? If Bangladesh law applies, then are the tort claims and the breach of fiduciary duty claims statute-barred in whole or in part under Bangladesh’s Limitation Act 1908 (Act No. IX of 1908)? If Bangladesh or if Ontario tort law applies, then is it plain and obvious that it does not include a legally viable tort claim against Loblaws? o In this regard, did Loblaws have a duty of care to the Plaintiffs and the putative Class Members because it adopted Corporate Social Responsibility Standards (“CSR standards”) under which Loblaws would not purchase goods from suppliers who did not have and comply with appropriate workplace safety standards? o In this regard, did Loblaws have a duty of care to the Plaintiffs and the putative Class Members who were working to manufacturer goods for Loblaws because Loblaws had control of their workplace through its substantial purchasing power and its CSR standards and because it knew that the workplace was hazardous and that Bangladesh’s public authorities were incompetent in keeping it safe? o In this regard, was Loblaws vicariously liable for the negligence of the employer because Loblaws knew that the employees were working in notoriously dangerous buildings and Loblaws had a non-delegable duty to protect the employees? If Bangladesh or if Ontario tort law applies, is it plain and obvious that it does not include a legally viable tort claim against Bureau Veritas? o In this regard, did Bureau Veritas have a duty of care to the Plaintiffs and the putative Class Members to conduct the social audit to ensure that Rana Plaza was structurally safe? 4 If Bangladesh or if Ontario law applies, is it plain and obvious that it does not include a legally viable breach of fiduciary duty claim against Loblaws? If the Ontario court has jurisdiction simpliciter and if there are viable causes of action, do the Plaintiffs satisfy the certification criteria for a class action? If the certification criteria are satisfied, should the paragraphs of the Statement of Claim that plead: (a) an apology; or (b) allege other factory accidents in Bangladesh be struck out as improper pleadings contrary to the Apology Act, 2009, S.O. 2009, c. 3 and rule 25.11 of the Rules of Civil Procedure? [5] For the reasons that follow, the ultimate answer to these questions is that the Plaintiffs’ action should be dismissed. A synopsis of my major conclusions is: An Ontario court has jurisdiction simpliciter for the Plaintiffs’ proposed class action against Loblaws and Bureau Veritas. 2017 ONSC 4129 (CanLII) o In this regard, the court has a constitutionally infra vires jurisdiction simpliciter based on a combination of: (a) the traditional attornment factors for jurisdiction; (b) the connecting factors from Club Resorts Ltd.
Recommended publications
  • Management's Discussion and Analysis
    Management’s Discussion and Analysis Table of Contents 4 At a Glance The following Management’s Discussion and Analysis (“MD&A”) for George Weston 5 Our Business Limited (“GWL” or the “Company”) should be read in conjunction with the audited annual consolidated financial statements and the accompanying notes on pages 89 8 Key Performance Indicators to 171 of this Annual Report. The Company’s audited annual consolidated financial Operating Segments statements and the accompanying notes for the year ended December 31, 2019 have 12 Loblaw been prepared in accordance with International Financial Reporting Standards (“IFRS” or “GAAP”) as issued by the International Accounting Standards Board (“IASB”). 14 Choice Properties The audited annual consolidated financial statements include the accounts of 16 Weston Foods the Company and other entities that the Company controls and are reported in 19 Financial Results Canadian dollars, except where otherwise noted. 76 Outlook Under GAAP, certain expenses and income must be recognized that are not necessarily reflective of the Company’s underlying operating performance. Non-GAAP financial 77 Non-GAAP Financial Measures measures exclude the impact of certain items and are used internally when analyzing 87 Forward-Looking Statements consolidated and segment underlying operating performance. These non-GAAP 88 Additional Information financial measures are also helpful in assessing underlying operating performance on a consistent basis. See Section 14, “Non-GAAP Financial Measures”, of this MD&A for more information on the Company’s non-GAAP financial measures. The Company operates through its three reportable operating segments, Loblaw Companies Limited (“Loblaw”), Choice Properties Real Estate Investment Trust (“Choice Properties”) and Weston Foods.
    [Show full text]
  • BMO Low Volatility Canadian Equity ETF (ZLB) Summary of Investment Portfolio • As at September 30, 2016
    Quarterly portfolio disclosure BMO Low Volatility Canadian Equity ETF (ZLB) summary of investment portfolio • as at september 30, 2016 % of Net Asset % of Net Asset Portfolio Allocation Value Top 25 Holdings Value Financials ......................................................................25.4 Fairfax Financial Holdings Limited ............................................ 5.0 Consumer Staples .............................................................15.4 Dollarama Inc. ................................................................. 4.1 Real Estate ....................................................................12.0 Waste Connection, Inc. ........................................................ 3.7 Utilities ........................................................................11.7 Intact Financial Corporation ................................................... 3.6 Consumer Discretionary ......................................................10.3 Canadian REIT .................................................................. 3.6 Telecommunication Services .................................................. 8.1 BCE Inc. ......................................................................... 3.0 Information Technology ....................................................... 6.9 RioCan REIT ..................................................................... 2.9 Industrials ...................................................................... 3.7 Empire Company Limited, Class A ...........................................
    [Show full text]
  • Growth Potential of Stocks: Security of a GIC
    BMO Financial Group BMO Growth GIC Growth potential of Stocks: Security of a GIC This medium term GIC allows you to participate in the growth of Canadian stocks with no risk to your principal investment. It offers the potential to generate returns based on the performance of a basket of 15 large Canadian companies. Is this GIC right for you? Product Features This GIC may be right for you if you: Term • are looking to diversify your portfolio with a medium term investment Minimum Investment • would like principal protection Maximum Rate of Return • are willing to forego a guaranteed return for the potential for the Term to earn higher market linked returns • can keep your money invested until the end of the term 100 % Principal protected Reference Portfolio Key Benefits This GIC is an excellent way for you to gain access to the Company (equally weighted) returns on a portfolio of 15 large Canadian companies with • Toronto-Dominion Bank (The) (TD) • Royal Bank of Canada (RY) the security of principal protection. • Canadian Imperial Bank of • George Weston Limited (WN) Commerce (CM) • Principal protection 100% of your original investment is • Nutrien Ltd. (NTR) returned to you at maturity • Bank of Nova Scotia (The) (BNS) • Canadian Tire Corp Ltd (CTC.A) • BCE Inc. (BCE) • Higher return potential based on the performance of a • Suncor Energy Inc. (SU) portfolio of Canadian stocks • Saputo Inc. (SAP) • Enbridge Inc. (ENB) • Designed in partnership with BMO Capital Markets®, a • National Bank of Canada (NA) • TransCanada Corporation (TRP) market
    [Show full text]
  • Blg.Com Mergers & Acquisitions Mining United States United Kingdom Agribusiness
    Steve Suarez Partner T 416.367.6702 Business Tax F 416.367.6749 International Tax Toronto Tax Disputes & Litigation [email protected] Mergers & Acquisitions Mining United States United Kingdom Agribusiness Steve works exclusively on income tax matters, focusing on mergers and acquisitions, inbound and outbound investment, corporate restructurings and audit management, and tax dispute resolution. He is the founder of Mining Tax Canada website, a website devoted to mining-related taxation issues. Experience Sterling Capital Brokers in its merger with Luedey Consultants Inc. to become one of the largest independent employee-owned benefit consulting firms in Canada. Epiroc Canada Holding Inc., a subsidiary of Epiroc Rock Drills AB, in its acquisition of 100% of MineRP Holdings Inc. from Dundee Precious Metals Inc. (TSX: DPM). BNY Mellon Wealth Management, Advisory Services, Inc. in its sale to Guardian Capital Group (TSX: GCG). SterlingCapitalBrokers Ltd. acquired all of the issued and outstanding shares of Riverview Insurance Solutions Inc. Virtu Financial (NASDAQ: VIRT), a leading provider of financial services and products that leverages cutting-edge technology, in its sale of MATCHNow marketplace to Cboe Global Markets. Canadian Premier Life Insurance Company in its acquisition of Gerber Life Insurance Company's Canadian insurance business from U.S.-based Western & Southern Financial Group. Berkshire Hathaway Energy Company ("BHE"), in its indirect share purchase acquisition of the Montana Alberta Tie-Line from Enbridge Inc. for an approximate purchase price of $200M. Atlas Copco AB on its divisive reorganization and spin-out of Epiroc AB. HollyFrontier Corporation in connection with its acquisition of Petro-Canada Lubricants Inc. from Suncor Energy.
    [Show full text]
  • 2018 Annual Report
    2018 Annual Report George Weston Limited Footnote Legend (1) See Section 18, “Non-GAAP Financial Measures”, of the Company’s 2018 Management’s Discussion and Analysis. (2) For financial definitions and ratios refer to the Glossary beginning on page 174. (3) To be read in conjunction with “Forward-Looking Statements” beginning on page 4. (4) Certain current and comparative figures have been restated to present Continuing Operations at Loblaw as a result of Loblaw’s spin-out of Choice Properties. See note 5 in the Company’s 2018 annual consolidated financial statements. (5) Certain figures have been restated as a result of IFRS 15, “Revenue from Contracts with Customers” and a change in accounting policy. See note 2 in the Company’s 2018 annual consolidated financial statements. Financial Highlights 1 / Report to Shareholders 2 / Management’s Discussion and Analysis 3 / Financial Results 79 / Three Year Summary 172 / Glossary 174 / Corporate Directory 176 / Shareholder and Corporate Information 177 Financial Highlights(2) As at or for the years ended December 31 ($ millions except where otherwise indicated) 2018 2017(5) Consolidated Operating Results Sales $ 48,568 $ 48,289 Operating income 2,585 2,561 Adjusted EBITDA(i) 4,528 4,337 Depreciation and amortization(ii) 1,746 1,685 Net interest expense and other financing charges 948 523 Adjusted net interest expense and other financing charges(i) 762 555 Income taxes 639 449 Adjusted income taxes(i) 680 712 Net earnings 998 1,589 Net earnings attributable to shareholders of the Company(iii)
    [Show full text]
  • Odgers Berndtson CFO Talent Report 2021
    CFO Talent Report 2021 WHAT’S NEXT FOR FINANCE LEADERSHIP ODGERS BERNDTSON CFO PRACTICE THE CFO REPORT Over the past 16 years, Odgers Berndtson tracked CFO TALENT movements in CFO leadership and analyzed trends in demographics, tenure, education and other aspects of professional development to better understand how the REPORT 2021 composition of top CFOs is evolving. We also interviewed leaders from Canada’s top organizations, including WHAT’S NEXT Shopify, Celestica and George Weston Limited, in order to gain insight into how public companies are recruiting, FOR FINANCE managing succession planning and developing their LEADERSHIP finance talent for the future. What we continue to see is that the growing demand The CFO role has never been more critical or more in for strategic acumen, transformational capabilities and demand — and yet the gap continues to grow between balanced oversight of an ever-expanding portfolio has what companies want in their CFOs and their ability to made the CFO role one of the most demanding and critical recruit and develop these top finance leaders. roles in the C-suite, and also increasingly harder to fill. Canada is in the midst of a CFO talent crunch and our new Chief Financial Officers have been thrust into the spotlight report explores what organizations can do about it. to help their companies adjust to market conditions, reinvent outdated business models or simply ensure enough liquidity to survive. To be successful, today’s finance leaders must quickly move beyond the numbers Succession planning is and understand the key levers to creating value across the more important than ever business and driving growth.
    [Show full text]
  • Loblaw President Vicente Trius to Speak at the Scotiabank Back to School Conference
    Loblaw President Vicente Trius to speak at the Scotiabank Back to School Conference BRAMPTON, Ontario (September 9, 2013) - Loblaw Companies Limited (TSX: L) will be participating in the Scotiabank Global Banking and Markets Back to School Conference: Focus on the Consumer on Tuesday, September 17, 2013. The conference will be held at The Ritz-Carlton hotel in Toronto. Vicente Trius, President of Loblaw Companies Limited will be presenting at 11:40 a.m. (ET). The audiocast can be accessed on the day of the conference through the following link: http://event.on24.com/r.htm?e=673812&s=1&k=BC2008AA60683863913983786159908E. This link will be available for three months following the conference. The presentation slides and link to the webcast will also be available on loblaw.ca in the Investor Centre. About Loblaw Companies Limited Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ approximately 134,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada's strongest control (private) label program, including the unique President's Choice®, no name® and Joe Fresh® brands.
    [Show full text]
  • English GWL Press Release Q4 2020
    NEWS RELEASE George Weston Limited Reports 2020 Fourth Quarter and Fiscal Year Ended December 31, 2020 Results(2) Toronto, Ontario March 2, 2021 George Weston Limited (TSX: WN) (“GWL” or the “Company”) today announced its consolidated unaudited results for the 13 weeks ended December 31, 2020. GWL’s 2020 Annual Report includes the Company’s audited annual consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) for the fiscal year ended December 31, 2020. The 2020 Annual Report has been filed on SEDAR and is available at sedar.com and in the Investor Centre section of the Company's website at weston.ca. As a result of the Company’s reporting calendar, the fourth quarter and full year 2020 include an extra week of operations (“the 53rd week”) compared to 2019. “George Weston performed well during the fourth quarter,” said Galen G. Weston, Chairman and Chief Executive Officer, George Weston Limited. “Our businesses showed resilience in the face of challenging circumstances as they delivered improved results across the board. Looking forward, as COVID-19 impacts continue to add short-term uncertainty, we remain confident in the long-term value creation opportunities for each of them.” Loblaw Companies Limited (“Loblaw”) delivered positive results with strong same-store and e-commerce sales growth in a quarter heavily impacted by COVID-19. Costs remained elevated to ensure the safety and security of customers and colleagues. Loblaw continued to deliver value in categories that mean the most to its customers and focused on accelerating its three strategic growth areas of Everyday Digital Retail, Payments and Rewards, and Connected Healthcare Network.
    [Show full text]
  • ANNUAL INFORMATION FORM (For the Year Ended December 31, 2020)
    ANNUAL INFORMATION FORM (for the year ended December 31, 2020) March 1, 2021 GEORGE WESTON LIMITED ANNUAL INFORMATION FORM TABLE OF CONTENTS I. FORWARD-LOOKING STATEMENTS 1 II. CORPORATE STRUCTURE 2 Incorporation 2 Intercorporate Relationships 2 III. GENERAL DEVELOPMENT OF THE BUSINESS 3 Overview 3 COVID-19 3 Loblaw 3 Retail Segment 3 Financial Services Segment 5 Choice Properties 5 Acquisition of Canadian Real Estate Investment Trust 5 Reorganization of Choice Properties 6 Acquisition, Disposition and Development Activity 6 Weston Foods 10 Acquisitions 10 Dispositions 10 Capital Investment 10 Restructuring Activities 10 Financial Performance 10 IV. DESCRIPTION OF THE BUSINESS 11 Loblaw 11 Retail Segment 11 Financial Services Segment 15 Labour and Employment Matters 15 Intellectual Property 15 Environmental, Social and Governance 15 Choice Properties 16 Retail Portfolio 16 Industrial Portfolio 16 Office Portfolio 16 Residential Portfolio 16 Acquisitions 17 Development 17 Competition 18 Employment 18 Environmental, Social and Governance 18 Weston Foods 18 Principal Products 18 Production Facilities 19 Distribution to Consumers 19 Competitive Conditions 19 Brands 19 Raw Materials 20 Intellectual Property 20 Seasonality 20 Labour and Employment Matters 20 Environmental, Social and Governance 20 Food Safety and Public Health 20 Research and Development and New Products 21 Foreign Operations 21 V. PRIVACY AND ETHICS 21 VI. OPERATING AND FINANCIAL RISKS AND RISK MANAGEMENT 22 Enterprise Risks and Risk Management 22 COVID-19 Risks and Risk Management 22 Operating Risks and Risk Management 23 Financial Risks and Risk Management 33 VII. CAPITAL STRUCTURE AND MARKET FOR SECURITIES 35 Share Capital 35 Trading Price and Volume 36 Medium-Term Notes and Debt Securities 37 Credit Ratings 37 Dominion Bond Rating Service 38 Standard & Poor’s 39 VIII.
    [Show full text]
  • Bank of Montreal Canadian DCA Callable Deposit, Series 3
    Bank of Montreal Canadian DCA Callable Deposit, Series 3 > Investment Highlights • 7 year term to maturity • 100 % Principal Protected by Bank of Montreal, as issuer, if held to maturity. • Portfolio consists of a basket of twenty (20) Canadian common equities diversified across eight (8) different sectors. • Callable by Bank of Montreal at any time prior to maturity at a 10% compounded annual rate of return calculated from the closing date to the call date. • If not called, investors are entitled to receive 100% of the percentage increase - which could be zero - from the Initial Average Portfolio Value to the Portfolio Value at Maturity. The portfolio return will not include any dividends or distributions declared on the securities. As of June 16, 2010 the average 12-month dividend yield was 4.32%. If there is no price appreciation of the underlying portfolio over the term, the variable return will be zero. • Dollar Cost Averaging Entry Point: for purposes of calculating the Variable Return, the Initial Average Portfolio Value is the value of a $100 investment in the Portfolio on the Closing Date as determined by averaging seven (7) monthly valuation dates observed during the first six (6) months, including date of closing. • The Dollar Cost Averaging feature allows the investor to lock in a potentially attractive entry point by taking advantage of the current market volatility. > Diversified Portfolio Alimentation Astral Bell Alliant Canadian Capital Power CML Healthcare Cogeco Emera Enbridge Finning Couche-Tard Media Regional Utilities Income L.P Income Fund Cable Incorporated Inc. International Inc. Inc. Communications Limited Inc. Inc.
    [Show full text]
  • Women in Leadership at S&P/Tsx Companies
    WOMEN IN LEADERSHIP AT S&P/TSX COMPANIES Women in Leadership at WOMEN’S S&P/TSX Companies ECONOMIC Welcome to the first Progress Report of Women on Boards and Executive PARTICIPATION Teams for the companies in the S&P/TSX Composite Index, the headline AND LEADERSHIP index for the Canadian equity market. This report is a collaboration between Catalyst, a global nonprofit working with many of the world’s leading ARE ESSENTIAL TO companies to help build workplaces that work for women, and the 30% Club DRIVING BUSINESS Canada, the global campaign that encourages greater representation of PERFORMANCE women on boards and executive teams. AND ACHIEVING Women’s economic participation and leadership are essential to driving GENDER BALANCE business performance, and achieving gender balance on corporate boards ON CORPORATE and among executive ranks has become an economic imperative. As in all business ventures, a numeric goal provides real impetus for change, and our BOARDS collective goal is for 30% of board seats and C-Suites to be held by women by 2022. This report offers a snapshot of progress for Canada’s largest public companies from 2015 to 2019, using the S&P/TSX Composite Index, widely viewed as a barometer of the Canadian economy. All data was supplied by MarketIntelWorks, a data research and analytics firm with a focus on gender diversity, and is based on a review of 234 S&P/TSX Composite Index companies as of December 31, 2019. The report also provides a comparative perspective on progress for companies listed on the S&P/TSX Composite Index versus all disclosing companies on the TSX itself, signalling the amount of work that still needs to be done.
    [Show full text]
  • Q2 2020 Quarterly Report
    Q2 2020 Quarterly Report 24 Weeks Ended June 13, 2020 Footnote Legend (1) See Section 8, “Non-GAAP Financial Measures”, of the Company’s 2020 Second Quarter Management’s Discussion and Analysis. (2) GWL Corporate refers to the non-consolidated financial results and metrics of GWL. GWL Corporate is a subset of Other and Intersegment. (3) To be read in conjunction with Section 9, “Forward-Looking Statements”, of the Company’s 2020 Second Quarter Management’s Discussion and Analysis. (4) Comparative figures have been restated to conform with current year presentation. Management’s Discussion and Analysis 1 / Forward-Looking Statements 43 / Unaudited Interim Period Condensed Consolidated Financial Statements 45 / Financial Summary 76 / Corporate Profile 77 Management’s Discussion and Analysis At a Glance 3 Key Performance Indicators 4 1. Overall Financial Performance 6 1.1 Consolidated Results of Operations 6 1.2 Consolidated Other Business Matters 14 2. Results of Reportable Operating Segments 14 2.1 Loblaw Operating Results 14 2.2 Choice Properties Operating Results 18 2.3 Weston Foods Operating Results 19 3. Liquidity and Capital Resources 21 3.1 Cash Flows 21 3.2 Liquidity 22 3.3 Components of Total Debt 24 3.4 Financial Condition 27 3.5 Credit Ratings 27 3.6 Share Capital 28 3.7 Off-Balance Sheet Arrangements 29 4. Quarterly Results of Operations 30 5. Internal Control Over Financial Reporting 31 6. Enterprise Risks and Risk Management 31 7. COVID-19 Update 32 8. Non-GAAP Financial Measures 33 9. Forward-Looking Statements 43 10. Additional
    [Show full text]