Two recent Supreme Court of Canada decisions demonstrate that the corporate attribution doctrine is not a one-size-fits-all approach.
Court approval of a sale process in receivership or Bankruptcy and Insolvency Act (“BIA”) proposal proceedings is generally a procedural order and objectors do not have an appeal as of right; they must seek leave and meet a high test in order obtain it. However, in Peakhill Capital Inc. v.
There are many practical steps, pitfalls and strategies available for recovering commercial rent arrears, both before and after tenant insolvency
Challenges to apparently prejudicial CVAs remain fraught with uncertainty but could provide a means of negotiating more favourable terms
An eagerly awaited appeal of the high-profile case of Lazari Properties 2 Ltd & others v New Look Retailers Ltd & others has settled, leaving landlords and tenants with no further clarity on aspects of company voluntary arrangements (CVAs), an increasingly litigious area in real estate disputes.
KEY POINTS
UK judgment is a prompt for landlords to consider all angles to maximise rent recovery in harsh economic conditions
The UK High Court has ruled in in favour of a landlord whose original tenant and guarantor were held liable for the rent accrued on a gym in Leeds despite the subsequent assignee operating under a restructuring plan.
In brief
The courts were busy in the second half of 2021 with developments in the space where insolvency law and environmental law overlap.
In Victoria, the Court of Appeal has affirmed the potential for a liquidator to be personally liable, and for there to be a prospective ground to block the disclaimer of contaminated land, where the liquidator has the benefit of a third-party indemnity for environmental exposures.1
In brief
Australia's borders may be closed, but from the start of the pandemic, Australian courts have continued to grapple with insolvency issues from beyond our shores. Recent cases have expanded the recognition of international insolvency processes in Australia, whilst also highlighting that Australia's own insolvency regimes have application internationally.
Key takeaways
In brief
With the courts about to consider a significant and long standing controversy in the law of unfair preferences, suppliers to financially distressed companies, and liquidators, should be aware that there have been recent significant shifts in the law about getting paid in hard times.