Earlier this year, the Ontario Court of Appeal released its decision in Urbancorp Cumberland 2 GP Inc. (Re)[PDF], which clarifies the scope and effectiveness of a section 9(1) vendor’s trust under the Ontario Construction Lien Act in insolvency proceedings.
Summary
Canada, Alberta, Franchising, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP, Bankruptcy, Retail, Unsecured debt, Collateral (finance), Consent, Concession (contract), Franchise agreement, Prejudice, Ford Motor Company, Bankruptcy and Insolvency Act 1985 (Canada), Trustee, Court of Appeal of Alberta