Fulltext Search
Bankruptcy Court Upholds Indian Tribe’s Sovereign Immunity

 In a decision published October 19, 2020, Judge Frank J. Bailey of the U.S. Bankruptcy Court for the District of Massachusetts found that an Indian tribe was not subject to the Bankruptcy Code’s automatic stay.

USA, Massachusetts, Insolvency & Restructuring, Litigation, Mintz, Title 11 of the US Code, United States bankruptcy court
Third Circuit Upholds Cramdown, Downplays Subordination Agreement

The U.S. Court of Appeals for the Third Circuit recently confirmed that bankruptcy plans need not always recognize subordination agreements among creditors.

USA, Insolvency & Restructuring, Litigation, Mintz, Title 11 of the US Code
Can a plan of arrangement authorize a monitor appointed to supervise insolvency proceedings to exercise rights on behalf of the debtor's creditors?

In the matter of Aquadis, the Quebec Court of Appeal recently rendered a decision on the power of a judge supervising restructuring proceedings under the Companies' Creditors Arrangement Act ("CCAA") to approve a plan of arrangement giving the monitor the power to exercise rights against third parties on

Canada, Quebec, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Companies' Creditors Arrangement Act 1933 (Canada), Quebec Court of Appeal
Un plan d’arrangement peut-il autoriser un contrôleur nommé pour superviser des procédures d’insolvabilité à exercer des droits au nom des créanciers de la débitrice?

Dans l’affaire d’Aquadis, la Cour d’appel du Québec rend un arrêt sur la possibilité pour un juge supervisant des procédures de restructuration en vertu de la Loi sur les arrangements avec les créanciers des compagnies (« LACC ») d'approuver un plan d'arrangement accordant au contrôleur le pouvoir d'exer

Canada, Insolvency & Restructuring, McCarthy Tétrault LLP
Les frais de démobilisation encourus par le locateur d’un bien loué selon un contrat résilié lors des procédures d’insolvabilité doivent-ils être payés par la débitrice?

Dans l’affaire de la Loi sur les arrangements avec les créanciers des compagnies relative à Nemaska Lithium, la Cour supérieure du Québec rend une décision intéressante en ce qui concerne la possibilité pour une débitrice de résilier des contrats auxquels elle est partie et sur son obligation, le cas échéant, de payer à son cocontractant les frais qu’il doit encourir pour reprendre possession de biens loués.

Canada, Insolvency & Restructuring, McCarthy Tétrault LLP, Companies' Creditors Arrangement Act 1933 (Canada)
Are demobilization costs incurred by the lessor of property leased pursuant to an agreement which was disclaimed during insolvency proceedings to be paid by the debtor?

In the matter of the Companies’ Creditors Arrangement Act of Nemaska Lithium, the Québec Superior Court rendered an interesting decision regarding the possibility for a debtor to disclaim agreements and its obligation, if any, to pay its counterparty the costs it must incur to repossess leased property.

Background: Nemaska Lithium disclaims a housing modules rental agreement

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Coal mining, Companies' Creditors Arrangement Act 1933 (Canada)
Keep On Truckin’: Priority Rules Still Rule in Structured Dismissals

In 2015, Distressing Matters reported on the Third Circuit’s decision in In re Jevic Holding Corp., wherein that panel ruled that, in rare circumstances, bankruptcy courts may approve the distribution of settlement proceeds in a manner that violates the Bankruptcy Code’s statutory priority scheme.

USA, Banking, Insolvency & Restructuring, Litigation, Mintz, Supreme Court of the United States, Third Circuit