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COVID-19: Crisis Management for End-Users of Swaps and Repos: Key Issues in Responding to Margin Calls and Early Termination Notices

Counterparties to swap and repurchase transactions have come under pressure following the financial dislocations caused by the novel coronavirus pandemic in 2020 (“COVID-19”). Falling and illiquid markets may result in margin calls that create immediate liquidity risk and may lead to an event of default if required margin is not posted in accordance with the contract.

USA, Derivatives, Insolvency & Restructuring, K&L Gates LLP, Force majeure, Coronavirus, International Swaps and Derivatives Association
Amendments to PMSI Rules in Saskatchewan

As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act).

Canada, Saskatchewan, Banking, Insolvency & Restructuring, Litigation, Real Estate, Miller Thomson LLP, Personal Property Security Act 1990 (Canada)
A Second Chance at Perfection: Saskatchewan’s PPSA Amendments and Re-Registration

As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act).

Canada, Saskatchewan, Banking, Insolvency & Restructuring, Real Estate, Miller Thomson LLP, Secured creditor, Personal Property Security Act 1990 (Canada)
Secured Lenders Beware! Saskatchewan is Proposing to Create a Superpriority for Employer Obligations to Pension Plans

Will this proposal capture unfunded liabilities under defined benefit pension plans?

Canada, Saskatchewan, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Miller Thomson LLP, Financial regulation, Defined benefit pension plan
Saskatchewan Court of Appeal confirms that emails can extend limitation periods under the Limitations Act

Earlier this year, we wrote here about the decision in I.D.H. Diamonds NV v Embee Diamond Technologies Inc., 2017 SKQB 79, where Mr. Justice Layh held:

Canada, Saskatchewan, Insolvency & Restructuring, Internet & Social Media, Litigation, Miller Thomson LLP
Receivership or CCAA? Having already given significant time, a creditor is not forced to wait longer to enforce

Affinity Credit Union 2013 v. Vortex Drilling Ltd. 2017 SKQB 228

Canada, Insolvency & Restructuring, Litigation, Miller Thomson LLP
U.S. Supreme Court to Review Scope of “Settlement Payment Defense” for Bankruptcy Clawback Suits

On May 1, 2017, the U.S. Supreme Court announced that it would review the Seventh Circuit’s decision in FTI Consulting, Inc. v. Merit Management Group, LP, 830 F.3d 690 (7th Cir. 2016) (“Merit”), which addressed the scope of the safe harbor found in Section 546(e) of the Bankruptcy Code for settlement payments.

USA, Capital Markets, Derivatives, Insolvency & Restructuring, Litigation, K&L Gates LLP, Bankruptcy, Class action, Swap (finance), Commodity broker, Supreme Court of the United States, Seventh Circuit
Things You May Not Know About The Farm Debt Mediation Act

National Insolvency Review, February 2017

Most or all creditors who lend to farmers will be familiar with the Farm Debt Mediation Act, S.C. 1997, c. 21 (the “FDMA”) and the need to serve a notice under the FDMA before taking action against a farmer. However, there are some details of how the FDMA operates that may not be as well-known. This piece will highlight some of those details.

Canada, Agriculture, Insolvency & Restructuring, Litigation, Real Estate, Miller Thomson LLP
Things You May Not Know About the Farm Debt Mediation Act

Most or all creditors who lend to farmers will be familiar with the Farm Debt Mediation Act, S.C. 1997, c. 21 (the “FDMA”) and the need to serve a notice under the FDMA before taking action against a farmer. However, there are some details of how the FDMA operates that may not be as well-known. This piece will highlight some of those details.

Canada, Insolvency & Restructuring, Litigation, Real Estate, Miller Thomson LLP, Property tax, Debt, Mortgage loan, Foreclosure, Mediation, Secured creditor
Stopping the revolution in its tracks: the Supreme Court of Canada decides Lemare Lake Logging Ltd. v. 3L Cattle Company Ltd.

On November 13, 2015, the Supreme Court rendered its decision in Lemare Lake Logging Ltd. v.

Canada, Insolvency & Restructuring, Litigation, Real Estate, Miller Thomson LLP, Supreme Court of Canada