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Fasken 2023 Insolvency Insights

Case Trends

Canada, Insolvency & Restructuring, Litigation, Fasken, Insolvency, Supreme Court of Canada
Supreme Court Holds That a Non-Debtor Retaining a Debtor’s Property Does Not Exercise Control Over the Property in Violation of the Automatic Stay

In January 2020, we analyzed a split among the Circuit Courts regarding whether a non-debtor holding a debtor’s property on the petition date has an affirmative obligation under section 362(a)(3) of the Bankruptcy Code to return that property to the debtor immediately following the filing of the bankruptcy petition.

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Amendments to the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA)

Today, amendments to the Bankruptcy and Insolvency Act (BIA)and the Companies’ Creditors Arrangement Act (CCAA), introduced to Parliament in April 2019 as Bill C-97, came into force. Certain of these amendments are likely to impact the usual flow of business among insolvency and restructuring professionals.

Canada, Insolvency & Restructuring, Litigation, Fasken, Debtor, Companies' Creditors Arrangement Act 1933 (Canada), Bankruptcy and Insolvency Act 1985 (Canada)
Indalex: DIP lenders smile, ABLs frown and directors are perplexed

On February 1, 2013, the Supreme Court of Canada released its decision in Sun Indalex Finance, LLC v. United Steelworkers[1]. The ruling:

Canada, Insolvency & Restructuring, Litigation, Fasken, Fiduciary, Debtor in possession, Constructive trust, United Steelworkers, Supreme Court of Canada, Court of Appeal for Ontario