Financial Assurance after business closes
An MOE order for financial assurance can be enforced even after the business has closed and been evicted from its premises, and even without a full hearing by the Environmental Review Tribunal. The ERT had enough evidence to know that the cleanup would cost much more than the existing financ…
View the post titled Financial Assurance after business closesFinancial Assurance and HST
Should financial assurance include HST? Financial assurance is designed to ensure that taxpayer doesn’t have to pay the bill, if an industrial operation becomes insolvent, abandoning an environmental mess. Most businesses provide financial assurance by posting cash or letter of credit.…
View the post titled Financial Assurance and HSTMaking parent companies pay: a sting in the tail of approval reform
This should add some surprising complications to a wide variety of transactions.
View the post titled Making parent companies pay: a sting in the tail of approval reformFinancial assurance: what counts?
Detox appealed the Ministry demand for $100,000 in financial assurance for transportation accidents relating to PCBs. As Detox pointed out, it holds $5 million of vehicle insurance, to cover precisely the same sort of accidents, and the MOE's amount, $100,000, was almost certainly inadequ…
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