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Rhode Island Superior Court Establishes Non-Liquidating Receivership Calendar in Response to COVID-19 Crisis

On March 31, 2020, the Rhode Island Superior Court announced the creation of its COVID-19 Receivership Program. The Program establishes a unique non-liquidating receivership calendar intended to assist Rhode Island businesses that are unable to pay their debts as they become due as a result of the coronavirus pandemic. The Program is designed to give struggling businesses time to obtain emergency funding under the CARES Act or other source, to resume paying its ongoing obligations under Court supervision, and repay its prepetition debt.

USA, Rhode Island, Banking, Insolvency & Restructuring, Litigation, Seyfarth Shaw LLP, Coronavirus, Title 11 of the US Code, CARES Act 2020 (USA)
Alberta Court of Appeal confirms super-priority status of restructuring charges

The ongoing priority dispute between deemed trusts created under federal “fiscal statutes” (being the Income Tax Act, the Canada Pension Plan Act and the Employment Insurance Act) and priming charges arising under restructuring and insolvency legislatio

Canada, Alberta, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Companies' Creditors Arrangement Act 1933 (Canada), Canada Pension Plan Act 1985, Bankruptcy and Insolvency Act 1985 (Canada)
Alberta Court of Queen’s Bench Reiterates Court’s Discretion to Grant an Interim Financing Charge “Super-Priority” Status in the Face of a Deemed Trust Under the Income Tax Act

This blog’s most recent post considered the Supreme Court of Nova Scotia’s June 2017 decision of Rosedale Farms Limited, Hassett Holdings Inc., Resurgam Resources (Re) (“Rosedale”) where the Cou

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Secured creditor, Canada Revenue Agency, Bankruptcy and Insolvency Act 1985 (Canada)
Deemed Trust for Unremitted Withholdings Trumps Interim Financing Charge in Recent Nova Scotia Supreme Court Decision

In the recent decision of Rosedale Farms Limited, Hassett Holdings Inc., Resurgam Resources (Re) (“Rosedale”), the Supreme Court of Nova Scotia held that a deemed trust for unremitted withholdings under sections 227(4)

Canada, Nova Scotia, Alberta, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Canada Revenue Agency, Bankruptcy and Insolvency Act 1985 (Canada)