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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)
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
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
Federal Government Introduces Bail-In Legislation: Bill C-15

On April 20, 2016, the Canadian federal government introduced Bill C-15, which is legislation that provides for, among other things, a bank recapitalization or “bail-in” regime for domestic systemically important banks (“D-SIBs”).

BAIL-IN

Canada, Banking, Insolvency & Restructuring, McCarthy Tétrault LLP, Financial regulation, Bail, Bailout