No mere rubber-stamp: Ontario court challenges the admissibility of fairness opinion in arrangement transaction

A recent decision at the Ontario Superior Court of Justice (Commercial List) brought to the fore the role of fairness opinions in solvent arrangement transactions. In Re ChampionIron Mines Limited (Champion) the court approved the arrangement but deemed the fairness opinion inadmissible on the basis that it failed to disclose the reasons underlying its conclusion.

Filed under:
Canada, Ontario, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Admissible evidence, Bell Canada
Authors:
Colin Cameron-Vendrig , Alfred L.J. Page
Location:
Canada
Firm:
Borden Ladner Gervais LLP