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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
Bankruptcy discharge not an option for securities law violators B.C. Court rules

On April 15, 2020, the British Columbia Supreme Court denied an application by a married couple previously found to have contravened B.C. securities laws for an absolute or suspended discharge from bankruptcy under s. 172 of the Bankruptcy and Insolvency Act (the “BIA”). The ruling sends a strong message that securities law violators will have difficulty using the bankruptcy process to absolve themselves of the financial consequences of their misdeeds.

Canada, British Columbia, Capital Markets, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP