To Your Credit - CIC e-Newsletter

Welcome to the CIC e-Newsletter - Spring 2010

Editor's Message

Welcome to the spring 2010 edition of To Your Credit. This issue provides updates on the hot topics in credit, things you need to know to stay on top of the game—legally, statistically, financially, technology wise, and personal development wise as well.

Here is a preview of what’s in store for you:

We start with a profile of Keith Richard, CCP, Chair of the National Education Committee, the committee that oversees the CIC’s educational programs.
Adam Atlas, a lawyer specializing in the online payments industry has written a special article for the CIC outlining the threats from security breaches that creditors need to be aware of and how to guard against them.
A recent Supreme Court decision ruled that the tax man will always collect, even from the Caisse Populaire, and even when the Caisse appears to have some iron clad guarantees.
Have you heard term – Du Pont Analysis? Wonder what it refers to? Find out by reading the article in our spring edition.
Check out our regular features on legislative changes as well as links to the OSB website and bankruptcy statistics.

Please remember we’re always interested in receiving articles from our members, and hearing about topics that interest you. Feel free to contact me at: rdelovitch@creditedu.org

Happy reading…

Reggie Delovitch

Disclaimer
The views expressed in the articles are the opinions of the writers and contributors not those of the Credit Institute of Canada. Nothing in this publication is intended as legal advice, or tax or accounting advice. Nothing in this publication should be considered an alternative to seeking professional legal or professional advice. You are encouraged to use your judgment in deciding which of the ideas to accept or adopt, and which to reject and ignore.

In this Issue:

Bankruptcy & Insolvency:

Keeping Up to Date with Bankruptcy and Insolvency Issues
Below are a few easy ways of keeping up to date on news from the Office of the Superintendent of Bankruptcy (OSB)...

Latest Bankruptcy Statistics - December 2009

Credit & Collections Management:

Creditors, Suppliers and Security Breaches
by Adam N. Atlas, lawyer advising payments businesses
Once upon a time, all the suppliers had to worry about what was the credit of their customers and the legal effectiveness of the security liens that they took on inventories. Now, debtors and creditors alike, for that matter, live under the constant threat of security breaches which can have consequences of a material order of magnitude. As a lawyer advising payments companies, I thought it would be interesting to discuss security breaches from the perspective of creditors and suppliers...

Credit Laws:

CRA Trust Overrides Contractual Right To Set Off
Adapted from an article by David Mann and David Legeyt, lawyers at the Fraser, Milner Casgrain LLP, Calgary Restructuring Group
In a recent decision involving the Canada Revenue Agency (CRA), and the Caisse populaire du bon Conseil (Caisse), the Supreme Court of Canada, (SCC) considered whether a lender’s contractual rights in respect of its customer’s term deposit account could be overridden by a deemed statutory trust in favor of the Crown...

Changes To Ontario Small Claims Court Rules And Forms
On January 1, 2010 some very significant changes came into effect in Ontario regarding the filing of claims in small claims court...

Financial Analysis:
	Return on Equity Financial Expression Efficient use of assets is important for the profitability and growth of any organization. One of the easiest ways to gauge whether a company is an asset creator or cash user is to look at the return on equity (ROE) ratio. ROE is a strong measure of how well management is creating value for shareholders.

Focus on Members:
	Introducing Keith Richard, CCP Keith has been a C.C.P. - Certified Credit Professional since 2001. Over the years, he has served in various capacities on the Credit Institute of Canada’s provincial and national board of directors...

Professional Development:
	Lessons From The Olympics Few things unite a nation or our world more than watching the Olympic Games. The inspiring stories of years of practice, recovering from injuries and overcoming incredible odds give us renewed hope that we too can reach some goal or dream in our lives...