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Corporate minds do not all think alike: The Supreme Court affirms a purposive approach to the corporate attribution doctrine

Two recent Supreme Court of Canada decisions demonstrate that the corporate attribution doctrine is not a one-size-fits-all approach.

Canada, Company & Commercial, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Supreme Court of Canada
There’s Something About (Hail) Mary: Appeals of Sale Processes and Pre-Receivership Sale Agreements

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.

Canada, Ontario, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP
The Third Circuit Definitively Rejects Triangular Setoff

On March 19, 2021, the United States Court of Appeals for the Third Circuit issued a unanimous decision[1] affirming that the mutuality requirement of section 553(a) of the Bankruptcy Code must be strictly construed and, therefore, that triangular setoffs are not permissible in bankruptcy.

USA, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets

Introduction

USA, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Debtor
Furniture retailer, Carl's Patio, files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Retail
Penson Worldwide files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
Preference complaints filed in RG Steel bankruptcy

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USA, Insolvency & Restructuring, Fox Rothschild LLP, Bankruptcy, United States bankruptcy court
Bankruptcy trustee in ultimate electronics files more preference actions

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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code
Overseas Shipholding Group files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Shipping & Transport, Fox Rothschild LLP, Bankruptcy, Liquefied natural gas, United States bankruptcy court
First Place Bank Holding Co. files for bankruptcy in Delaware

Introduction

USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Holding company, Office of the Comptroller of the Currency (USA), United States bankruptcy court