- INTRODUCTION
S4 of the PPSA, provides that "except as otherwise provided" in the PPSA, the PPSA does not apply to a number of enumerated liens, charges or other interests, including as set out in s4(a) "a lien, charge or other interest given by an Act or rule of law in force in Alberta".
On March 13, 2014 the Supreme Court of Canada dismissed applications for leave to appeal by a group of alleged former institutional shareholders of Sino-Forest Corporation. These institutions unsuccessfully sought leave to appeal from orders approving Sino-Forest’s Companies’ Creditors Arrangement Act (CCAA) plan and approving a settlement reached between Ernst & Young and the plaintiff group that was awarded carriage of Sino-Forest class actions in Ontario.
Pan Canadian Mortgage Group v. 679972 B.C. Ltd., 2013 BCSC 1078 (Pan Canadian), addresses the nature and priority of a purchaser’s lien, which, in general terms, is a financial charge that results when a purchaser pays a deposit toward the purchase price under a contract of purchase and sale.
DOING BUSINESS IN ALBERTA
November 2013
© Davis LLP 2013 i
TABLE OF CONTENTS
A. INTRODUCTION .............................................................................................................................. 1
B. GOVERNMENT AND LEGAL SYSTEM ......................................................................................... 1
C. TYPES OF BUSINESS ORGANIZATION ....................................................................................... 2
In the recent decision of the Alberta Court of Appeal in Orion Industries Ltd. (Trustee of) v Neil's General Contracting Ltd.1("Orion Industries") the Court interpreted and applied the rule added as part of the 2009 amendments to section 95(2) of theBankruptcy and Insolvency Act ("BIA") which deals with preferential payments. That amendment provides that evidence of pressure by a creditor is inadmissible to support a preferential payment.
The Status of Pension Benefits Standards Act, 1985 and Pooled Registered Pension Plans Act Deemed Trust Claims in Insolvency1
In a November 20,2013 decision in the Companies Creditors’ Arrangement Act (the “CCAA”) proceedings of Aveos Fleet Performance Inc. and Aero Technical US, Inc.
Chapter 11
and CCAA
» A Cross-Border Comparison
RELIEF MEASURES EXTENSION
On November 27, 2013, the Government of Québec published the Regulation Providing New Relief Measures for the Funding of Solvency Deficiencies of Pension Plans in the Private Sector (the “New Regulation”), which will come into effect on December 31, 2013.