Archive for: March 2018

Supreme Court of Canada Provides Guidance on Trustees’ Duty to Disclose Construction Bonds to Beneficiaries

The Supreme Court of Canada (SCC) ruled in its recent decision, Valard Construction Ltd. v. Bird Construction Co. (Valard Construction), that an “obligee” or trustee under a labour and material payment bond (usually the owner or general contractor) may be required to disclose the bond’s existence to its beneficiaries...

AXA acquires XL Group in $15.3bn deal

French insurer AXA is acquiring Bermuda-based property/casualty commercial lines re/insurer XL Group for $15.3 billion (€12.4 billion) in cash. The price represents a premium of 33 percent to XL Group closing share price on March 2, 2018. The move will shift AXA’s business profile from L&S (life & savings)...

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