A recent unreported decision in the Alberta Court of Queen’s Bench has clarified the ranking of certain municipal tax claims against a bankrupt in Alberta. In Bank of Nova Scotia et al v. Virginia Hills Oil Corp.
Canada, Alberta, Insolvency & Restructuring, Litigation, Real Estate, McCarthy Tétrault LLP, Bankruptcy, Property tax, Bankruptcy and Insolvency Act 1985 (Canada)
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