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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
UK High Court judgment on ISDA Default Rate calculations in Lehman Waterfall IIC, and supplemental judgment on statutory interest and currency conversion claims in Waterfall IIA and IIB

The High Court in London handed down judgment on Part C of the Lehman Waterfall II Application on 5 October 2016.

The judgment examines the extent of creditors’ entitlements to Default Rate interest on debts arising under ISDA Master Agreements governed by English law and New York law. As some £4.4 billion of LBIE’s admitted claims arise under ISDA Master Agreements and the debts were outstanding for more than five years, this judgment will materially influence the amount of money which must be applied in satisfaction of creditors’ entitlements to statutory interest.

United Kingdom, Banking, Derivatives, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, International Swaps and Derivatives Association, Lehman Brothers