This week’s TGIF is the second of a two-part series considering Commonwealth v Byrnes [2018] VSCA 41, the Victorian Court of Appeal’s decision on appeal from last year’s Re Amerind decision about the insolvency of corporate trustees.
In a recent decision that is relevant to oil and gas receiverships, the Alberta Court of Queen’s Bench lifted a stay of proceedings against an insolvent operator to allow the non-operating party to enforce its right to take over operatorship pursuant to the CAPL 2007 Operating Procedure.
We have recently profiled conflicting cases (available here and here) dealing with a priority contest between supe
In June 2017, the New South Wales Parliament introduced the Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW Act), designed to clarify the rights of claimants to proceed directly against insurance companies. But in the context of insolvent corporations, has it created more problems than it has solved?
This blog’s most recent post considered the Supreme Court of Nova Scotia’s June 2017 decision of Rosedale Farms Limited, Hassett Holdings Inc., Resurgam Resources (Re) (“Rosedale”) where the Cou
A recent unreported decision in the Alberta Court of Queen’s Bench has clarified the ranking of certain municipal tax claims against a bankrupt in Alberta. In Bank of Nova Scotia et al v. Virginia Hills Oil Corp.
Key Employee Retention Plans are a common feature in restructurings occurring under the Companies’ Creditors Arrangement Act. The basis for a KERP is simple and easily explainable.
In a majority two to one decision released on April 24, 2017, the Alberta Court of Appeal has upheld the lower court ruling in Re Redwater Energy Corporation.
The restructuring of Sanjel Corporation and its affiliates (previously discussed here) continues to provide interesting developments on the application and interpretation of the Companies’ Creditors Arrangement Act.
It is well-established that Canadian courts have jurisdiction to approve a plan of compromise or arrangement under the Companies’ Creditors Arrangement Act that includes releases in favour of third-parties. The leading decision on the issue remains Metcalfe & Mansfield Alternative Investments II Corp., which arose in response to the liquidity crisis that threatened the Canadian market in asset-backed commercial paper after the U.S.