In the recent decision in the CCAA Proceedings of Timminco Ltd. et al.[1], the Ontario Court of Appeal has affirmed the CCAA Court’s jurisdiction to grant super-priority status to DIP financing charges (including over provincial deemed trusts) and, effectively, confirmed that a supervising CCAA Court has a broad discretion to do so.
Canada, Ontario, Insolvency & Restructuring, Litigation, Fasken, Debtor, Companies' Creditors Arrangement Act 1933 (Canada), Court of Appeal for Ontario