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Court of Appeal summaries (December 6- 11)

Hello again for another week,

Canada, Employment & Labor, Family, Healthcare & Life Sciences, Insolvency & Restructuring, Legal Practice, Litigation, Non-profit Organizations, Private Client & Offshore Services, Real Estate, Blaney McMurtry LLP
United States Bankruptcy Court for the Southern District of New York identifies new jurisdictional hook to provide Chapter 15 relief to foreign debtors

On October 28, 2015, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) issued a decision that significantly expands the jurisdictional bases that foreign issuers can rely upon to obtain relief in the United States under Chapter 15 of the Bankruptcy Code.

USA, New York, Insolvency & Restructuring, Litigation, A&O Shearman, Debtor, Title 11 of the US Code, United States bankruptcy court
Supreme Court offers some financiers protection, creates new risks for others, in its decision on Sun Indalex, LLC v. United Steelworkers

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. 

Canada, Ontario, Banking, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Blaney McMurtry LLP, Debtor, Liquidation, Debtor in possession, United Steelworkers, Bankruptcy and Insolvency Act 1985 (Canada)