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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)
The need for a legal ground to stand on: a shareholders class action is dismissed at the authorization stage for failure to meet article 1003 b) C.p.c. (Groupe d’action d’investisseurs dans Biosyntech c. Tsang, 2015 QCCS 3265)

In the spring of 2010, BioSyntech, a start-up biotechnology company, developing a cartilage-repair product, BST-Car Gel, filed a Notice of Intention to make a proposal under the Bankruptcy and Insolvency Act. In the subsequent bankruptcy proceedings, the intellectual property relating to the BST-Car Gel was sold.

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP