U.S. Steel Declares Investment Rules as Void
The failure to impart the companies with the right to properly defend in court has been blamed on the Canadian foreign investment rules, which are termed unconstitutional by the lawyers for U. S. Steel Corp. They seek immediate removal of these rules, declaring them as void.
Despite of the fact that the steelmaker faced significant fines of up to $14.6 million under the Act, the law gives it no guarantee of a fair hearing, the firm's lawyers argued.
U. S. Steel urged a Canadian judge to overthrow a government lawsuit that sites the company to be unable to fulfil its commitments it made when it acquired Stelco Inc.
The firm reveals that the Act violates the Charter of Rights and Freedoms by hampering its right to a fair hearing and presumption of innocence. In addition, it is inefficient in guiding an investor about how to proceed to prevent such troubling sanctions.
The government has argued that the Charter does not apply to the case, as per the Court’s documents.
Canada isn’t required to provide disclosure, or the evidence it’s basing its case on, because it’s only seeking a finding from the judge that the company failed to comply and an order that includes monetary penalties, stressed Jeffrey Johnston, the government’s lawyer revealing the court’s discretion.