On November 10, 2022, the Supreme Court of Canada (the "SCC") released its long-awaited decision in Peace River Hydro Partners v Petrowest Corp., 2022 SCC 41(“Peace River”), which addresses the interaction between insolvency law's single proceeding model and arbitration law’s emphasis on contractually bargained-for rights – an interaction often described as “a conflict of near polar extremes”.
Canada, Ontario, Arbitration & ADR, Insolvency & Restructuring, Litigation, Stikeman Elliott LLP, Insolvency, Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada
Finance Minister Grant Robertson yesterday afternoon announced a number of proposed temporary changes to the Companies Act, with the stated purpose to help businesses facing insolvency due to COVID-19 remain viable.
The temporary changes include: