Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable.

We are often engaged to assist creditors, directors and other stakeholders with negotiating standstill agreements or restructuring support agreements to give breathing space to put new terms in place and allow the relevant corporate entity (or group) to continue as a going concern.

We have published a series of articles dealing with directors’ duties in the zone of insolvency.

Following are this week’s summaries of the Court of Appeal for Ontario for the week of April 15, 2024.

Following are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of January 15, 2024.

Good afternoon. Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 18, 2023.

Following are this week’s summaries of the Court of Appeal for Ontario for the week of September 4, 2023.

In AssessNet Inc. v. Ferro Estate, the Court set aside an order dismissing the action, finding that the summary judgment motion judge had erred in determining the issue of discoverability of a claim against a trustee in bankruptcy.

Torgersrud v Lightstone is a family law decision where the Court dismissed an appeal from an order setting aside a marriage contract entered into in Quebec in 1988.

Good afternoon. Following are this week’s summaries of the Court of Appeal for Ontario for the week of August 28, 2023.

I hope everyone is enjoying the last long weekend of the summer.

Chippewas of Nawash Unceded First Nation v. Canada (Attorney General) is a 125-page decision dealing with the claim of the Saugeen Ojibway Nation to submerged lands in Lake Huron and Georgian Bay. The claim was mostly unsuccessful.

Following the UK Supreme Court decision in Sequana¹ at the end of 2022, the New Zealand Supreme Court has now weighed in on the issue of the duties owed by directors of a company in the zone of insolvency in a long-running case involving the liquidation estate of Mainzeal Property and Construction Limited.²

根据英国最高法院 2022 年底 Sequana¹ 的判决 ，新西兰最高法院在涉及 Mainzeal Property and Construction Limited²清算财产的长期案件中，对破产区公司董事所承担的义务问题进行了权衡及作出有力贡献。

当世界各地的董事们正努力应对各种宏观经济因素带来的困难和不确定时期时，这些决策为董事们应采取哪些保护自己及公司的方法提供了有用且及时的指导。

这可能意味着听取有关停止交易的建议，尝试签订重组支持协议或任命官员提供协助。在开曼群岛，新的重组支持官员制度提供了一个有用的体系，为董事提供休整期，以便在适当的情况下促进和实施可行的计划。

Mainzeal 的最新决定再次提醒大家，公司董事未能采纳建议和采取适当行动可能会导致严重后果。

Mainzeal 决定

Following are this week’s summaries of the Court of Appeal for Ontario for the week of July 17, 2023.