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Alberta Court of Queen’s Bench rules that end-of-life environmental obligations are not always first in priority, in contrast to the landmark Redwater decision

The recent decision of Justice B.E.

Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy and Insolvency Act 1985 (Canada)
Receivership Charges and Municipal Tax Claims: The Priority Debate Continues

Over the last year, several court decisions have touched on the legislative conflict between taxation authorities and secured creditors in insolvency situations.

Canada, Insolvency & Restructuring, Litigation, Tax, McCarthy Tétrault LLP, Bankruptcy, Bankruptcy and Insolvency Act 1985 (Canada)
Top Insolvency Cases and Highlights from 2017 - Part 2

We previously published Part 1 of our survey of interesting and important developments in Canadian insolvency and restructuring matters in 2017. This post is the second and final part – with an additional seven highlights and cases. You can also find a printable version containing the complete “Top Insolvency Cases and Highlights from 2017” bulletin on our website.

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Supreme Court of Canada, Court of Appeal of Alberta, Quebec Court of Appeal
Top Insolvency Cases and Highlights from 2017 - Part 1

2017 saw a number of interesting and important developments in Canadian insolvency and restructuring matters. Some of the highlights (which, in certain instances, will continue as issues in 2018 and beyond) are set forth below:

1) Trends: Fewer CCAA Filings and Retail Insolvencies in the News

Canada, Ontario, Quebec, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Liquidation, Secured creditor, Office of the Superintendent of Financial Institutions (Canada), Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada, Court of Appeal for Ontario
Operator’s Liens and the PPSA Priority Regime

Joint venture partners commonly enter into operating agreements which grant operators a security interest, referred to as an operator’s lien. Operator’s liens are, for the most part, consensual and contractual security interests subject to the provisions of the Personal Property Security Act, RSA 2000, c P-7 (the “PPSA”) and the priority regime set out therein.

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP
Proposed Amendments to Insolvency Legislation Granting Super-priority to Pension Plan Deficits and Employee Benefits

This fall, the NDP and the Bloc Québécois (“Bloc”) have both introduced private member’s bills seeking to amend the Bankruptcy and Insolvency Act(“BIA”) and the Companies’ Creditors Arrangement Act (“CCAA”).

Canada, Quebec, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Unemployment benefits, Canada Pension Plan Act 1985, Bankruptcy and Insolvency Act 1985 (Canada)
Court of Appeal upholds Redwater decision

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.

Canada, Alberta, Environment & Climate Change, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Alberta Energy Regulator, Bankruptcy and Insolvency Act 1985 (Canada), Court of Appeal of Alberta