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Case summary of Concrete Equities Inc. (Re)

What this means for the shareholders of a business facing insolvency

Canada, Capital Markets, Company & Commercial, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP
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