Give this post superpriority – Supreme Court decides Sun Indalex Finance, LLC v. United Steelworkers
Introduction
The Supreme Court has issued its much-anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers.
Canada, Banking, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Conflict of interest, Debtor, Fiduciary, Beneficiary, United Steelworkers, Bankruptcy and Insolvency Act 1985 (Canada), Court of Appeal for Ontario
Did you know... that the court may, in special circumstances, exercise its discretion to appoint pre-existing receivers as a company’s provisional liquidators.
In the recent decision ofRe K Vision International Investment (Hong Kong) Limited, the Honourable Mr. Justice Barma confirmed that, where the circumstances require it, the court will exercise its discretion to appoint pre-existing receivers of a company’s assets as that company’s provisional liquidators provided that potential conflicts of interest are identified and appropriately addressed.
Hong Kong, Insolvency & Restructuring, Litigation, Mayer Brown, Conflict of interest, Liquidator (law)