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Faithless Fiduciaries May Not Be Released From Bankruptcy

In Convoy Supply Ltd. v.

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy and Insolvency Act 1985 (Canada), Court of Appeal for Ontario
Arbitration versus the “Single Proceeding Model” in Insolvency Proceedings - Which prevails?

Overview and Why This Case Matters

Canada, British Columbia, Arbitration & ADR, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, UNCITRAL, Bankruptcy and Insolvency Act 1985 (Canada), Ontario Superior Court of Justice
The Ontario Court of Appeal determines when it is appropriate to vest out a royalty interest as part of an insolvency proceeding

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

Canada, Ontario, Energy & Natural Resources, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP
Mergers & acquisitions in a more uncertain world: using the Companies’ Creditors Arrangement Act

You are probably aware of the useful restructuring and creditor protection process available to insolvent entities in the United States under Chapter 11 of the United States Bankruptcy Code. In Canada, more than one insolvency regime is available in respect of debtor companies in financial difficulty and those interested in acquiring such companies or their assets. However, because of its flexibility, the most commonly used Canadian regime for larger debtor companies or complicated restructurings is the Companies’ Creditors Arrangement Act (Canada) (the "CCAA").

Canada, Corporate Finance/M&A, Insolvency & Restructuring, McCarthy Tétrault LLP, Bankruptcy, Debtor, Title 11 of the US Code