This is the third instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. This article discusses insolvencies from the perspective of corporate parents of distressed Canadian retailers.
Costello J in the High Court recently gave judgment in the case of In re James Coady (a Former Bankrupt) [2017] IEHC 653. In this case the Official Assignee ("OA") had sought directions in respect of what rights could vest in the OA from the bankrupt's pre-retirement personal pension policy (the "PP"). The bankrupt had reached normal retirement age under the PP after he was adjudicated bankrupt but before he was discharged from bankruptcy.
Costello J in the High Court recently gave judgment in the case of In re James Coady (a Former Bankrupt) [2017] IEHC 653. In this case the Official Assignee ("OA") had sought directions in respect of what rights could vest in the OA from the bankrupt's pre-retirement personal pension policy (the "PP"). The bankrupt had reached normal retirement age under the PP after he was adjudicated bankrupt but before he was discharged from bankruptcy.
Jurisprudence canadienne récente en matière d’insolvabilité : ce que les prêteurs doivent savoir Linc Rogers, Caitlin McIntyre et Ilia Kravtsov L’issue d’un certain nombre de dossiers d’insolvabilité portés devant les tribunaux de diverses provinces du Canada en 2017 pourrait avoir une incidence importante sur les droits de réalisation et de recouvrement des prêteurs commerciaux dans le cadre de procédures de restructuration et d’insolvabilité.
Alberta Energy has increasingly been targeting insolvent lessees and the historical gas cost allowances claimed by those insolvent companies.
Alberta Energy deducts allowances for capital and operating costs and custom processing fees incurred and paid in Alberta for compressing, gathering and processing its royalty share of gas and gas products through the Crown share of allowable costs. Accordingly, there are three allowances available from the Crown: capital cost, operating cost and custom processing fee allowance.
Examinership A number of significant decisions were made by the High Court and Court of Appeal relating to different aspects of the examinership process in 2017. |
Srie sur l'insolvabilit des dtaillants au Canada : Le point de vue des fournisseurs
Linc Rogers et Aryo Shalviri
In Wingview Limited t/a Elphin Public House v Ennis Property Finance DAC the High Court granted an interlocutory injunction prohibiting the defendant from appointing a receiver over Elphin Public House, the Dublin pub which featured in the film "The Van" (1996).
The Court of Appeal recently ruled, in Re KH Kitty Hall Holdings & Ors, that an agreement to restructure and discharge the secured debts of a number of companies by selling certain secured assets was not a bar to the appointment of an examiner to those companies. This was the case despite the fact that the application for the appointment of an examiner was inconsistent with the obligations imposed on the companies under the restructuring agreement and was objected to by the secured creditor.
In 2017, a number of insolvency cases were litigated, in various provinces across Canada, which may materially affect the realization and recovery rights of commercial lenders in restructuring and insolvency proceedings. This article summarizes the core issue of importance to lenders in each of these cases and provides an update on their appeal status.
November 2, 2017 September 11, 2017
INTEGRITY OF COURT-ORDERED SALE PROCESS
Squestre de Gestion EGR inc. et Lemieux Nolet inc., syndics de faillite et gestionnaires