The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future. The not-so-good news is that municipal bankruptcy filings are on the rise, and they are likely to increase. The issues facing parties under contract with a municipality when it files for bankruptcy protection are playing out nationally in places like Stockton, California, and Detroit, Michigan.
USA, Insolvency & Restructuring, Projects & Procurement, Duane Morris LLP, Bankruptcy, Title 11 of the US Code
After reserving judgment for more than a year, the Supreme Court of Canada (“SCC”) has released its decision in the matter of Her Majesty the Queen in Right of the Province of Newfoundland and Labrador v. AbitibiBowater Inc., et al [1].
Canada, Environment & Climate Change, Insolvency & Restructuring, Litigation, Fasken, NAFTA, Companies' Creditors Arrangement Act 1933 (Canada), Supreme Court of Canada, Quebec Court of Appeal