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Lion Electric tests the limits of Directors’ and Officers’ releases under the Companies’ Creditors Arrangement Act

The collapse of The Lion Electric Company and its affiliates (Lion Electric) has attracted considerable attention as a sign of potential trouble in Québec’s manufacturing and electric vehicle sectors1.

Canada, Insolvency & Restructuring, Litigation, Torys LLP, Electric vehicle
Québec Court of Appeal settles controversy regarding the appointment of national receivers under section 243 of the BIA

On July 20, 2020, the Court of Appeal of Québec (the QCA) released its reasons in Séquestre de Media5 Corporation,[1] putting an end to a long-lasting debate on the availability of national receivers to Québec secured creditors.

Canada, Quebec, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP
The Aquadis case: Québec Court of Appeal confirms the broad powers of the CCAA monitor

On May 21, 2020, the Québec Court of Appeal (QCA) released its reasons in Arrangement relatif à 9323-7055 Québec inc. (Aquadis International Inc.)[1](the Aquadis case).

Canada, Ontario, Quebec, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP, General contractor
Supreme Court of Canada releases reasons for its decision in Bluberi: Improper purpose and litigation funding in CCAA proceedings

Introduction

On May 8, 2020, the Supreme Court of Canada (SCC) released its written reasons in 9354-9186 Québec Inc. v. Callidus Capital Corp.[1](the Bluberi case).

Canada, Ontario, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP, Due diligence, Coronavirus