On December 30, 2019, the Supreme Court of Newfoundland and Labrador (the “NLSC”) released its decision in Re Norcon Marine Services Ltd.¹ (“Norcon Marine”), dismissing both an application by a debtor for continuance of its Bankruptcy and Insolvency Act² (“BIA”) proposal proceedings under the Companies’ Creditors Arrangement Act³ (“CCAA”) and a competing application by a secured creditor for the appointment of a receiver.

On October 10, 2019, the Supreme Court of British Columbia (the “BCSC” or the “Court”) released its decision in 8640025 Canada Inc. (Re)¹ (“8640025 Canada”), denying an application to replace the monitor (the “Monitor”) in a Companies’ Creditors Arrangement Act² (the "CCAA") proceeding because the applicant was not a creditor and therefore had no standing to bring such an application.

On January 29, 2020, the Alberta Court of Appeal (the “Alberta CA”) released its decision in PricewaterhouseCoopers Inc. v Perpetual Energy Inc.¹ (“Perpetual Energy”), granting applications requiring a trustee in bankruptcy (the “Trustee”) to post security for costs on appeals brought by the Trustee.

In 7636156 Canada Inc. v. OMERS Realty Corporation¹ (“7636156 v. OMERS”), the Ontario Superior Court of Justice (Commercial List) (the “Court”) held that a bankrupt’s landlord was only entitled to have drawn down on a letter of credit by an amount equal to the landlord’s priority claim for three months’ accelerated rent, rather than by the full amount of the letter of credit, and ordered that the landlord pay over the excess to the bankrupt’s trustee.

On November 14, 2019, the Alberta Court of Appeal (the “ABCA”) released its decision in PricewaterhouseCoopers Inc. v. 1905393 Alberta Ltd. (“1905393 Alberta”),¹ dismissing an appeal of an approval and vesting order made in the context of a receivership proceeding.

On September 10, 2019, Madrid Commercial Court number 6 delivered a decision arguing that it was necessary to examine whether the prior notice under article 5 bis of the Insolvency Law stemmed from steps taken to prepare or perform serious and effective negotiations.

In an April 30, 2019 endorsement accompanying a receivership order made in the matter of Royal Bank of Canada and D.M. Robichaud Associates Ltd. (“D.M. Robichaud”), Justice Hainey of the Ontario Superior Court of Justice, Commercial List (the “Court”) held that the receiver’s charge and the receiver’s borrowings charge should have priority over deemed trusts under provincial construction legislation.1

Final provision number three of the Trade Secrets Law, in force since March 13, 2019, authorized the government to approve a revised wording of the Insolvency Law within eight months. Under that authorization, on March 22 the Ministries of Justice and of Economy and Enterprise submitted a bill for the Revised Insolvency Law.

La Disposición Final Tercera de la Ley de Secretos Empresariales, en vigor desde el pasado 13 de marzo, habilitaba al Gobierno a aprobar un texto refundido de la Ley Concursal en el plazo de ocho meses. De acuerdo con dicha habilitación, los Ministerios de Justicia y Economía y Empresa presentaron el 22 de marzo un proyecto de Texto Refundido de la Ley Concursal.

El tribunal de un Estado miembro que conoce del procedimiento de insolvencia tiene competencia exclusiva para conocer de las acciones revocatorias ejercitadas dentro del mismo

Sentencia del Tribunal de Justicia de la Unión Europea de 14 de noviembre de 2018