On October 18, 2023, the Québec Court of Appeal confirmed the Superior Court’s authority to declare that court-ordered charges under the Bankruptcy and Insolvency Act (BIA) rank before deemed trusts in favour of the Crown for deductions at source.
Canada, Quebec, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Supreme Court of Canada
On April 14, 2016, the priority of statutory trust protections afforded to subcontractors and suppliers under Alberta’s lien legislation was strengthened: the Supreme Court of Canada dismissed an appeal in Iona Contractors Ltd. v. Guarantee Company of North America, 2015 ABCA 240, thereby bolstering the priority of the trust even in the face of a bankrupt general contractor.
Canada, Construction, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Subcontractor, Bankruptcy and Insolvency Act 1985 (Canada)