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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
Third Circuit to directors of insolvent entity – you may be in “deepening” trouble now

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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Debtor, Fraud, Fiduciary, Federal Reporter, Negligence, Business judgement rule, Corporate bond, Chief financial officer, Third Circuit
Fifth Circuit upholds expense reimbursement for non-stalking horse bidders: now that’s a horse of a different color…

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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Debtor, Federal Reporter, Due diligence, Business judgement rule, Second Circuit, United States bankruptcy court, Fifth Circuit, Third Circuit
Stern v. Marshall – bankruptcy court jurisdiction: cut to the core

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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Punitive damages, Bankruptcy, Debtor, US Constitution, Article III US Constitution, Supreme Court of the United States, United States bankruptcy court