Emerging entity’s solvency is condition precedent to the use of a CBCA plan of arrangement restructuring secured debt

A recent Alberta case1 has addressed the proposed use of a plan of arrangement under theCanada Business Corporations Act (“CBCA”) where proceedings under insolvency statutes may be more appropriate.  In Connacher Oil, Connacher Oil and Gas Limited (“Connacher”) and 9171665 Canada Ltd.

Filed under:
Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Gowling WLG, Condition precedent, Canada Business Corporations Act 1985
Authors:
Erica M. Bordun
Location:
Canada
Firm:
Gowling WLG