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Debtor in possession charge in priority to Canada Revenue Agency’s deemed trust

TrustIn Canada (Deputy Attorney General) v. Temple City Housing Inc., the Alberta Court of Appeal had to consider an application for leave to appeal a provision in a Companies Creditors Arrangement Act (Canada) (“CCAA”) order granting a DIP lender a charge in priority over the claims of CRA. The claims of CRA consisted of deemed trust claims arising under sections 224(1.2), 227(4) and 227(4.1) of the Income Tax Act (Canada).

Canada, Alberta, Banking, Insolvency & Restructuring, Litigation, Dentons, Tax deduction, Involuntary dismissal, Debtor in possession, Civil Rights Act 1964 (USA), Constitutional amendment, Court of Appeal of Alberta
The importance of registering name changes

In Royal Bank of Canada v. Head West Energy Inc., the Court of Appeal considered the priority of two security interest registrations against the same collateral, namely industrial camp trailers, and the obligations, pursuant to the Personal Property Security Act, R.S.A. 2000, c. P-7 (“PPSA”) of a security holder to amend its registration to reflect a name change when the security holder has knowledge of that name change.

Canada, Insolvency & Restructuring, Litigation, Dentons, Debtor, Collateral (finance), Interest, Voting, Wells Fargo, Royal Bank of Canada, Personal Property Security Act 1990 (Canada)