Connect with us

Business

First Nation Issues eviction notice to Coastal GasLink pipeline

Published

 on

VANCOUVER — A First Nation in British Columbia has served a company that wants to build a natural gas pipeline through its territory an eviction notice.

“This notice is to inform you that all Coastal GasLink staff and contractors currently trespassing on unceded Wet’suwet’en territory must vacate our territory immediately,” reads a letter from the First Nation’s hereditary chiefs to the company whose $6.6-billion pipeline would transport natural gas across 670 kilometres from northeastern B.C. to the LNG Canada export terminal in Kitimat.

Coastal GasLink workers and contractors in the area near Houston, B.C., complied with the notice peacefully Saturday night, confirmed two spokespeople for Indigenous groups.

A spokeswoman for Coastal GasLink, Suzanne Wilton, said in an emailed statement that “the only people on site Saturday were security staff.” The company expects construction to resume this week after a holiday break, she wrote.

At first, the workers were reluctant, said Na’Moks, who also goes by John Ridsdale and is the highest ranking hereditary chief of Tsayu, one of the five clans that make up the First Nation.

He estimates it took workers between 90 minutes and two hours to leave.

Coastal GasLink, which did not immediately respond to a request for comment beyond the emailed statement, said on its website that it received the notice.

It “demanded that we remove our equipment from areas in which we are legally permitted to operate,” the company said.

Coastal GasLink also said it was notified on Jan. 3 by Unist’ot’en that the Indigenous group intends to terminate an access agreement effective Jan. 10.

The company’s workers also discovered felled trees early Sunday morning that make a road impassable, it said.

“While it is unclear who felled these trees, this action is a clear violation of the interlocutory injunction as it prevents our crews from accessing work areas,” it said in the statement.

On Dec. 31, the B.C. Supreme Court granted the company an injunction against members of the Wet’suwet’en First Nation and others who oppose the company’s pipeline.

Na’Moks said his group’s position is that the ruling was misinformed.

Coastal GasLink said it was “disappointed” Unist’ot’en decided to terminate the agreement after it was in place for a year and is requesting to meet with the group and hereditary chiefs as soon as possible.

Source link

Business

Lufthansa sets 2024 goal, eyes capital increase

Published

 on

Germany’s flagship carrier Deutsche Lufthansa said it aims to boost its return on capital employed (ROCE) and laid out plans for a capital increase as it prepares for a business recovery amid an easing coronavirus pandemic.

The largest German airline aims to have an adjusted EBIT margin of at least 8% and an adjusted ROCE of at least 10% in 2024, it said late on Monday.

Adjusted ROCE was –16.7% in 2020 and 6.6% in 2019.

The group added it had mandated banks to prepare a possible capital increase, though size and timing have not yet been determined and the German state, which has bailed out the airline during the pandemic, has not yet given its approval.

 

(Reporting by Ludwig Burger; editing by Jonathan Oatis)

Continue Reading

Business

Virtual Law Firms Are on the Rise in Canada

Published

 on

Virtual law firms have been on the rise for a while. In a 2019 roundtable discussion conducted by the American Bar Association, several firm leaders met to discuss the growing presence of online legal services. The consensus was clear: virtual is the new reality.

That was 2019. In the intervening two years, the world was gripped by a global pandemic that forced most people to conduct their business indoors. As you might have guessed, demand for contactless, remote legal services has only ballooned since that roundtable discussion.

While the roundtable primarily focused on the legal industry in the US, you can witness similar trends here in Canada. Like the taxi industry and entertainment distribution industry before it, law is increasingly moving toward digital spaces.

This article explores what virtual law firms are, what benefits they present for Canadian clients, and what kind of clients are driving the virtual law boom.

Not a Change but an Addition

At its best, the shift from brick-and-mortar law firms to virtual isn’t an alteration of legal services as much as it is an addition.

The best virtual law firms do not compromise on service – they still offer traditional legal services with the expertise of real lawyers. The only difference is that they have added a new medium: a more accessible, transparent means of communication and billing.

Why Canadians Choose Online Law Firms

For some clients, the traditional brick-and-mortar firm was hard to give up. They viewed their lawyer like they viewed their doctor: a professional whose in-person expertise couldn’t be replicated in a digital space. Then, the pandemic hit. As millions more Canadians acclimatized to working online, they also habituated to the idea of doing business online.

 

Credit: Ketut Subiyanto Via Pexels

The benefits were immediately apparent. Virtual law firms feature streamlined communication, available seven days a week. They eliminate the need to go to a physical office. They offer all the same legal expertise and services as a brick-and-mortar lawyer. And, crucially, they often leverage transparent pricing: flat, predetermined legal fees with no hidden costs. A client looking for affordable legal services in Mississauga or Toronto, for instance, can simply click a few buttons and hire a lawyer on the spot.

Who Is Using These New Services?

You might be wondering: do they wheel a computer into the courtroom when someone avails themselves of a virtual lawyer? No, that isn’t quite the case.

Clients tend to use virtual law firms for everyday legal services – not necessarily courtroom representation. A client looking to create a will or name a power of attorney might choose a virtual lawyer for the sake of simplicity. A homebuyer, looking to keep costs manageable might hire a virtual lawyer for closing since their prices are both more transparent and affordable. A couple seeking to draft a cohabitation agreement may find similar benefits in an online lawyer.

The fact is that virtual legal services are not only here to stay – they are on the rise. Fortunately, the future is friendly; online law firms offer the same legal expertise as their physically housed counterparts, with the added benefits of being accessible and affordable.

Continue Reading

Business

Tourmaline to expand in Montney with C$1.1 billion deal for Black Swan

Published

 on

Canada‘s Tourmaline Oil Corp said on Friday it would buy privately owned Black Swan Energy Ltd in a C$1.1 billion ($908.79 million) deal, as the oil and gas producer looks to expand in the Montney region, one of North America’s top shale plays.

Canada‘s Montney, which straddles Alberta and British Columbia, has seen a wave of consolidation as companies buckled under collapsing oil prices amid the COVID-19 pandemic.

Tourmaline said the deal represents a key part of its ongoing North Montney consolidation strategy and the company sees the area as a key sub-basin for supplying Canadian liquefied natural gas.

The company in April acquired 50% of Saguaro Resources Ltd’s assets in the Laprise-Conroy North Montney play for $205 million and entered into a joint-venture agreement to develop these assets.

Analysts at brokerage ATB Capital Markets called the Black Swan assets a “hand in glove” fit with its recent acquisitions.

Tourmaline stock rose 4.5% to C$32.1.

The deal value consists of 26 million Tourmaline shares and a net debt of up to $350 million, including deal costs.

Tourmaline will acquire an expected average production capacity of over 50,000 boepd when the deal closes, likely in the second half of July.

The company, which also raised its dividend by 1 Canadian cent per share, expects the Black Swan assets to generate free cash flow of $150 million to $200 million in 2022 and beyond.

The Canadian energy sector has seen a flurry of deals with companies expecting to benefit from the rebound in oil prices as global fuel demand picks up.

ARC Resources Ltd in April bought Seven Generations Energy Ltd for C$2.7 billion to create Montney’s largest oil and gas producer.

($1 = 1.2104 Canadian dollars)

 

(Reporting by Rithika Krishna in Bengaluru; Editing by Vinay Dwivedi)

Continue Reading

Trending