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)
A recent Alberta appellate decision establishes that a trustee in bankruptcy may sell a franchise agreement to a third party, in spite of objections by the franchisor, under the Bankruptcy and Insolvency Act (BIA). The Alberta Court of Appeal’s decision in Ford Motor Company of Canada Ltd v Welcome Ford Sales Ltd contains three important messages for franchisors:
Canada, Alberta, Franchising, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Consent, Legal burden of proof, Franchise agreement, Ford Motor Company, Bankruptcy and Insolvency Act 1985 (Canada), Trustee, United States bankruptcy court, Court of Appeal of Alberta