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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
Scanlan v. Eisenberg, et al., 2012 U.S. App. Lexis 1112 (January 20, 2012)

Seventh Circuit reverses district court decision that discretionary beneficiary lacked standing to bring surcharge claim for $200 million in investment losses from investment concentration.

USA, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, McGuireWoods LLP, Fiduciary, Beneficiary, Standing (law), Trustee, Seventh Circuit
Carlyle Investment Management LLC et al. v. Carlyle Capital Corporation Limited, 2011 U.S. Dist. Lexis 85710 (Delaware, August 4, 2011)

Forum selection clause in an investment management agreement is valid and enforceable.

USA, Delaware, Insolvency & Restructuring, Litigation, McGuireWoods LLP, Breach of contract, Investment management, Unjust enrichment, Default (finance), Forum selection clause, Mortgage-backed security