Hello again for another week,

Here the Court of Appeal granted an injunction which restrained a building contractor (Harbour View) from presenting a winding-up petition, overturning the high court's decision at first instance.  Harbour View had been engaged under two separate contracts based on a JCT Intermediate WCD (2011) to carry out works at two separate sites.  The employer (Wilson) failed to pay against two interim certificates (August 2013 and September 2013), leaving a sum of over GBP 1.6 million owing.

The Supreme Court of Canada, in a decision that has implications for borrowers and lenders alike, particularly where pension funds are involved, has raised some new hurdles for the country’s banks and their business customers and, at the same time, has bolstered protection for lenders of last resort who finance insolvent companies.

The court’s decision in Sun Indalex Finance, LLC v. United Steelworkers, issued earlier this year, addresses critical questions in insolvency law regarding pension funds and DIP financing.