Former directors and officers of bankrupt company reach $4.75 million settlement with the Ministry of Environment over cleanup orders

On October 28, 2013, the Ontario Ministry of the Environment (MOE) announced that it had reached a settlement with the former directors and officers of Northstar Aerospace whereby those former directors and officers agreed to pay $4.75 million for costs associated with the remediation of contaminated lands owned by the now-bankrupt company. The Environmental Review Tribunal approved the Minutes of Settlement at the hearing held on October 28.

Filed under:
Canada, Ontario, Company & Commercial, Environment & Climate Change, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP, Public company, Bankruptcy
Authors:
Daniel Kirby , Edward A. Sellers , Andrew MacDougall , Jennifer Fairfax , Patrick G. Welsh
Location:
Canada
Firm:
Osler Hoskin & Harcourt LLP
When can environmental regulatory orders be compromised claims under the Companies’ Creditors Arrangement Act? Supreme Court of Canada provides clarification

Newfoundland and Labrador v. AbitibiBowater Inc., 2012 SCC 67

Filed under:
Canada, Environment & Climate Change, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP, US Constitution, Supreme Court of Canada, Quebec Court of Appeal
Authors:
Daniel Kirby , Edward A. Sellers , Jack Coop , Jennifer Fairfax , Mary Paterson , Stephanie Fujarczuk
Location:
Canada
Firm:
Osler Hoskin & Harcourt LLP