to pay $15 billion in compensation for withholding information

National Bank avoiding cannabis partly due to concerns over potential tobacco

buy replica bags online National Bank of Canada is not investing in the cannabis industry partly due to concerns that tobacco style Handbags Replica lawsuits could be filed against marijuana companies. buy replica bags online

“There’s replica handbags china significant risks of class action lawsuits with respect to the cannabis industry,” said chief executive Louis Vachon during the bank’s annual shareholder meeting on Friday.

best replica bags “The tobacco industry operated for 50 years without class action. I think it’s only going to take maybe 50 months or 50 weeks before a significant class action is launched against cannabis producers and contributors,” Vachon wholesale replica designer handbags said. best replica bags

“There’s significant risk because of the regulatory uncertainty in the United States. It has increased following certain declarations of the Trump administration. activities which could have an impact on the Fake Handbags bank,” Vachon said.

high quality designer replica How the CEO of an old school credit union became Canada go to weed bankerBMO in on $100M financing deal for cannabis company CronosCanada’s large banks have largely avoided investing in the marijuana space, even as rapidly expanding licensed producers soak up billions of dollars Fake Designer Bags of capital and the country Replica Bags Wholesale moves towards legalizing recreational use. high quality designer replica

There have been a few exceptions, most notably BMO Designer Fake Bags Nesbitt Burns Inc., which helped underwrite $200 million in financing for Canopy Growth Corp. But for the most part, the industry has been financed by smaller investment banks such as Canaccord Genuity Group Inc. and GMP Capital Inc.

replica designer backpacks Bruce Linton, chief executive of Canopy Growth, dismissed Vachon’s concerns about potential lawsuits, suggesting they had more to do with National “having entirely missed the opportunity to bank the Wholesale Replica Bags most actively growing purse replica handbags sector” of the market. replica designer backpacks

“I suspect that (National Bank) needs a new answer,” Linton said.

aaa replica bags There’s little risk for legal liability, he added, “as long as the products are prepared and presented, and they are what they’re exhibited to be, with all the warning labels that you would see on the Designer Replica Bags containers.” aaa replica bags

replica wallets This was echoed by Allan Rewak, acting executive director of Cannabis Canada, an industry association. replica wallets

best replica designer bags “There’s no evidence that cannabis is lateral with tobacco in terms of harm,” said Rewak. “It’s not free of harm, no product is. That’s why we’re going to regulate this, we’re going to keep it away from kids, we’re going to make sure that adult consumers of cannabis are freely choosing knowing the risks.” best replica designer bags

good quality replica bags So far there’s been at least one lawsuit filed in the cannabis space. In 2017, a notice of action was filed KnockOff Handbags in the Nova Scotia Supreme Replica Bags Court against Organigram Inc. and replica Purse Mettrum aaa replica designer handbags Ltd. (now part of Canopy Growth) for selling cannabis containing banned pesticides in 2016. good quality replica bags

National (has) entirely missed cheap replica handbags the opportunity to bank the most actively growing sector of the market

luxury replica bags Bruce Linton, CEO, Canopy Growth luxury replica bags

The replica handbags online replica designer bags main potential for legal risk has to do with disclosure, said Andr Lesprance, one of the lawyers involved in a massive class action lawsuit against three tobacco companies in Quebec.

In 2015, Replica Designer Handbags a Quebec Superior Court judge ordered Imperial Tobacco Canada Ltd.; Rothmans, Benson Hedges Inc.; and JTI Macdonald Corp. to pay $15 billion in compensation for withholding information about the negative effects of smoking. The tobacco companies are appealing the decision.

“It’s not because a product is risky that it creates liability, it’s what you say about it and how you induce people (to use it),” said Lesprance. “There’s an Replica Handbags obligation on you to divulge all of the risk. And if you don’t then you can have a tobacco case. If, on top of it, high quality replica handbags you conspire to lie, then you get to a second level,” he said.

“If you say nothing about it, that could create a tobacco like case; it’s lying by omission,” Lesprance added.

high end replica bags Vachon said National Bank would reconsider investments in the cannabis industry if new information emerges that “demonstrates that our analysis is outdated or isn’t accurate.” high end replica bags.

By admin , October 30, 2013


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