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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)
Jersey Royal Court declares trustee's exercise of power void

This article was first published by the International Law Office, a premium online legal update service for major companies and law firms worldwide. Register for a free subscription.

Introduction

Jersey, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ogier, Trust law
Quebec Court of Appeal decision in Bluberi CCAA proceedings

PLAN SPONSOR ENTITLED TO VOTE AS CREDITOR AND CREDITOR APPROVAL REQUIRED TO IMPLEMENT LITIGATION FUNDING AGREEMENT.

Canada, Quebec, Company & Commercial, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Companies' Creditors Arrangement Act 1933 (Canada), Quebec Court of Appeal