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It’s All Peakhill From Here: Appellate Confirmation of Courts’ Jurisdiction to Grant Reverse Vesting Orders in Receivership Proceedings

On July 2, 2024, the Court of Appeal for British Columbia (the “Court”) released its highly anticipated decision in British Columbia v. Peakhill Capital Inc., 2024 BCCA 246 (“Peakhill”) concerning the use of reverse vesting orders (“RVOs”) to effect sale transactions structured to avoid provincial property transfer taxes for the benefit of creditors.

Canada, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Receivership
Asserting Limitation Period Defences in the Bankruptcy Context

A Case Comment on AssessNet Inc. v. Ferro Estate, 2023 ONCA 577

Canada, Ontario, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Court of Appeal for Ontario
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