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In the matter of the Companies’ Creditors Arrangement Act (“CCAA”) of the S.M. Group, the Québec Court of Appeal rendered a ruling on the effect of the law of set-off on debts arising out of alleged fraud and the application of the same Court’s ruling in Kitco to this type of debts.

The Ontario Court of Appeal determines when it is appropriate to vest out a royalty interest as part of an insolvency proceeding

The Importance of the Decision