The recent decision from the Court of King’s Bench of Alberta (the “Court”) in Qualex-Landmark Towers Inc v 12-1- Capital Corp, 2023 ABKB 109 (“Qualex”) greatly extended the protective umbrella for costs associated with environmental reclamation obligations.

In Golfside Ventures Ltd (Re) (2023 ABKB 86) the Court of King’s Bench of Alberta (the “Court”) reaffirmed the Court’s authority to exercise inherent jurisdiction in proceedings under the Bankruptcy and Insolvency Act (the “BIA”) in circumstances where (1) the BIA is silent or has not dealt with a matter exhaustively; and (2) the benefit of granting the relief outweighs th

Introduction

De Herstructureringsrichtlijn van 20 juni 2019 zorgt voor het eerst op Europees niveau voor een harmonisatie van de wetgeving omtrent insolventie.

Een belangrijk onderdeel van deze Richtlijn heeft betrekking op preventieve herstructureringsstelsels, die tot doel hebben de vereffening van levensvatbare ondernemingen te vermijden.

In België zal dit voornamelijk een impact hebben op de gerechtelijke reorganisatie, en meer bepaald op de gerechtelijke reorganisatie door een collectief akkoord.

The Restructuring Directive of 20 June 2019 harmonises insolvency legislation for the first time at the European level.

An important part of this Directive concerns preventive restructuring frameworks, which aim to limit the unnecessary liquidation of viable companies.

In Belgium, this will mainly impact judicial reorganisation, and more specifically judicial reorganisation by means of collective agreement.

La directive du 20 juin 2019 relative aux restructurations harmonise pour la première fois la législation sur l'insolvabilité au niveau européen.

Une partie importante de cette directive concerne les cadres de restructuration préventive, qui visent à limiter la liquidation inutile d'entreprises viables.

En Belgique, cela aura principalement un impact sur la réorganisation judiciaire, et plus particulièrement sur la réorganisation judiciaire par accord collectif.

The Ontario Superior Court of Justice’s decision in Carillion Canada Inc. clarifies how the principles in Montréal (City) v. Deloitte Restructuring Inc. (Montréal) should be applied to contingent obligations that are only quantified after the debtor company files for creditor protection.

On July 13, 2022, the Court of Appeal for Ontario allowed an appeal from the Order of a bankruptcy judge in Sirius Concrete Inc. (Re), 2022 ONCA 524 (Sirius), which ruled that certain funds paid by a trade creditor formed part of the bankrupt’s estate. The issue on appeal was whether a constructive trust should be imposed over certain funds due to a claim of unjust enrichment arising from alleged fraudulent misrepresentations made by the bankrupt on the eve of its bankruptcy filing.

A recent law, which came into force on 21 July 2022, amends the regulation for the accounting professions with regard to their professional practice and the anti-money laundering prevention.

The law was enacted after the Constitutional Court ruled in two judgments that various provisions of the law relating to the audit profession and the anti-money laundering law were against the constitution.

Hereafter we discuss the impact of the new law on auditors, certified public accountants and the unregulated tax advisors.

The recent decision inErnst & Young Inc. v. Aquino, the Ontario Court of Appeal (OCA) analyzed the criteria for establishing voidable transfers at undervalue under section 96 of theBankruptcy and Insolvency Act RSC 1985, c B-3 (BIA), with a particular focus on the application of “corporate attribution” in the context of insolvency.