What happens when the counterparties on both sides of a contract are debtors in separate bankruptcy cases and their estates have contrary views about whether to reject or assume a contract?

Hello everyone.

Except for a brief addendum to an order made in a criminal matter, the Court of Appeal only released civil law decisions this week, which is rare. Topics covered included whether or not leave to appeal a vesting order made on a receivership sale under the Bankruptcy and Insolvency Act is required (it is), an ironic case in which a lawyer initially resisted a professional negligence claim for missing a limitation period by arguing the limitation period had been missed (nice try), insurance law and adjournments.

As avid blog readers know, we’ve posted extensively on make whole issues, including several articles covering the ongoing make whole litigations in the chapter 11 cases of Energy Future Holdings and its affiliated debtors, which can be found here, 

Hello again.

Most of the Court of Appeal civil decisions this week were procedural in nature.  Topics included the standard of review of discretionary orders (deference), municipal law, leave to appeal and stays pending appeal in the CCAA context and the consolidation of appeals to the Court of Appeal as of right with Divisional Court appeals requiring leave.

Have a nice weekend.

Table of Contents

Civil Decisions

Pickering (City) v. Slade, 2016 ONCA 133

Hello again for another week,

Are you feeling a bit of déjà vu?  We certainly are.  As readers know, here at the Weil Bankruptcy Blog we’ve written extensively about make-wholes.  In two previous posts, What the Future Holds for Make-Whole Claims in Bankruptcy: Examining the Energy Future Holdings EFIH First Lien Make-Whole Decision – 

Two recent decisions from the District Court for the Southern District of New York have renewed interest in the Trust Indenture Act and the ability of minority bondholders to use it as a shield to protect their rights in an out-of-court nonconsensual restructuring:  Marblegate Asset Management, LLC v.

Two recent decisions from the District Court for the Southern District of New York have renewed interest in the Trust Indenture Act and the ability of minority bondholders to use it as a shield to protect its rights in an out-of-court nonconsensual restructuring:  Marblegate Asset Management, LLC v.

Today, we follow up on our earlier post where we reviewed the United States Bankruptcy Court for the District of Delaware’s decision in Energy Future Holdings

Two recent decisions from large and highly contested chapter 11 cases add to the developing body of case law on the treatment of make-whole claims in bankruptcy.  First, in a two-part post, we discuss the United States Bankruptcy Court for the District of Delaware’s decision in Energy Future Holdings, and later, in a follow-up post, we discuss the United States District Court for the Southern District of