On July 31, 2024, the Supreme Court of Canada released its decision in Poonian v. British Columbia (Securities Commission), on whether financial sanctions imposed by securities regulators are dischargeable through bankruptcy. The decision resolves a conflict between Alberta and B.C. jurisprudence and will have a significant impact on the treatment of all administrative orders in bankruptcy proceedings.
The facts
In deze blog signaleren wij kort enkele belangwekkende bestuursrechtelijke en omgevingsrechtelijke uitspraken van de afgelopen periode.
Hoge Raad: regeling proceskostenvergoeding voor fiscale bezwaarprocedures mogelijk in strijd met discriminatieverbod (art. 1 Grondwet)
Financial restructurings are becoming increasingly common in the current financial climate, also in the Netherlands. Since the implementation of the Dutch scheme of arrangement on 1 January 2021, a relatively new tool to restructure debts of Dutch corporate entities in order to prevent their insolvency is available in the Netherlands. Under the Dutch scheme of arrangement, a creditors composition is binding on all creditors if a sufficient number of (classes of) creditors vote in favour of the scheme. In principle, the preferential order of priority for secured creditors, e.g.
In the decision in Woodhouse, in the matter of Panoramic Resources Limited [2024] FCA 449, handed down this week (1 May 2024) by Feutrill J, the Federal Court of Australia considered the meaning of ‘Secured Property ‘as defined in a specific security deed and the extent to which phrases such as ‘…in respect of’ could expand the types of collateral the subject of that defined term (and hence the collateral the subject of the specific security d
Legal proceedings need to be filed before the end of any relevant limitation period, otherwise they will be time-barred — often irreparably. There are various reasons why a person may delay commencing proceedings – for example, they may be waiting on litigation funding before prosecuting their claim or need more time to gather evidence in order to decide whether to proceed.
The decision in RPPS v Brookfield is the first recorded instance of s 151 of the PPSA being enforced (with a $30,000 penalty imposed for an improper registration). It serves as a caution to those making spurious registrations, but reasonably diligent and responsible parties should have no cause for alarm.
The decision in RPPS v Brookfield is the first recorded instance of s 151 of the PPSA being enforced (with a $30,000 penalty imposed for an improper registration). It serves as a caution to those making spurious registrations, but reasonably diligent and responsible parties should have no cause for alarm.
Overview of section 151 of the Personal Property Securities Act 2009
The Dutch Supreme Court handed down a judgment (ECLI:NL:HR:2023:1751) on 15 December 2023 clarifying whether agreements entered into by a bankruptcy trustee with the approval of the supervisory judge can be affected by an application under Article 69 of the Dutch Bankruptcy Act (DBA).
De Tijdelijke wet transparantie turboliquidatie (“TWTT”) omvat de tijdelijke aanpassing van de wettelijke regeling omtrent turboliquidatie in Boek 2 BW en is gefaseerd in werking getreden op 15 november 2023. De maatregelen die zijn opgenomen in de TWTT zijn van tijdelijke aard en gelden in beginsel voor een periode van twee jaar na de inwerkingtreding, te weten tot 15 november 2025.
Section 192 of the Canada Business Corporations Act (CBCA) provides a flexible tool that allows corporations to achieve important change and undertake various corporate transactions, subject to court approval and oversight. This article aims to provide an update on the Québec courts’ acceptance of virtual securityholder meetings and approach to the solvency requirement.
Overview of the arrangement process