On March 22, 2010, the Superior Court of Quebec approved a plan of arrangement under the Canada Business Corporations Act [CBCA], R.S.C. 1985, c. C-44, that allowed a corporation, MEGA Brands Inc., to achieve a worldwide restructuring of its business under a corporate statute, rather than a more typical insolvency and restructuring statute like the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36.

The United States and Canada enjoy a close and extensive relationship that is unique in the world. The two nations share the world's largest and most comprehensive trading relationship, with bilateral trade exceeding $565 bilion in 2008.

The Securities and Exchange Commission has recently published a timetable setting forth a schedule for the release of reports, rule proposals and adoption of final rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act"). The Act was signed into law on July 2010 and requires applicable regulators, including the Securities Exchange Commission to a accomplish substantial rule making and to deliver reports to Congress or various topics. The Act consists of sixteen distinct Titles on a wide variety of topics.

On July 13, 2010, a three-judge panel of the United States Court of Appeals for the Third Circuit unanimously held that auto-parts supplier Visteon Corporation could not terminate health and life insurance benefits for approximately 2,100 retirees during its chapter 11 bankruptcy unless Visteon followed the specific requirements laid out in section 1114 of the Bankruptcy Code, even if Visteon would have had the unilateral right to terminate these benefits outside bankruptcy.

In a client memo dated March 7, 2007, we reported that the Bankruptcy Court for the Southern District of New York had issued a decision holding that secured lenders to a chapter 11 debtor could assert a valid, but unsecured, damages claim for breach of a contractual provision —known as a “no call” — that prohibits redemption of debt prior to maturity. In re Calpine Corp., 365 B.R. 392 (Bankr. S.D.N.Y. 2007).

Salinas v. Texas: How the Supreme Court’s Decision in a Murder Case Impacts the Issue of “Remaining Silent” in Corporate White Collar Investigations

On July 24, 2013, the United States Court of Appeals for the First Circuit in Sun Capital Partners III LP v. New England Teamsters & Trucking Industry Pension Fund, held that a private equity fund was a “trade or business” under the controlled group rules of ERISA, and, as a result, could be held jointly and severally liable for the pension obligations of a bankrupt portfolio company.

It has long been held that the English court has power to grant a freezing injunction against a third party (against whom no claim lay), provided that it is ancillary and incidental to a good arguable claim against a defendant (TSB Private Bank International SA v Chabra [1992] 2 All ER 245).

In a written statement to Parliament on 26 July 2010, the government announced its intention to consult in the autumn on implementing a number of the recommendations in Lord Justice Jackson's final report on civil litigation costs, published on 14 January 2010.