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Corporate minds do not all think alike: The Supreme Court affirms a purposive approach to the corporate attribution doctrine

Two recent Supreme Court of Canada decisions demonstrate that the corporate attribution doctrine is not a one-size-fits-all approach.

Canada, Company & Commercial, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Supreme Court of Canada
There’s Something About (Hail) Mary: Appeals of Sale Processes and Pre-Receivership Sale Agreements

Court approval of a sale process in receivership or Bankruptcy and Insolvency Act (“BIA”) proposal proceedings is generally a procedural order and objectors do not have an appeal as of right; they must seek leave and meet a high test in order obtain it. However, in Peakhill Capital Inc. v.

Canada, Ontario, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP
German Court lowers threshold for approval of an insolvency plan

The Federal Court of Justice has lowered the threshold for the approval of an insolvency plan by the insolvency court.

Background

Germany, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
German court clarifies the presumption that applies in insolvency avoidance proceedings

The German Federal Court of Justice (BGH) in its ruling of 12 January 2023 (IX ZR 71/22) clarifies the requirements for proving an 'intent to disadvantage creditors' that it established in its landmark ruling of 6 May 2021.

Background

Germany, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency
German court extends termination options in the event of insolvency

The German Federal Court of Justice (BGH) has ruled on the question of whether an agreement that grants release from a contract on grounds of insolvency or the opening of insolvency proceedings is effective.

Background

Germany, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice