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On May 21, 2020, the Québec Court of Appeal (QCA) released its reasons in Arrangement relatif à 9323-7055 Québec inc. (Aquadis International Inc.)[1](the Aquadis case).
Introduction
On May 8, 2020, the Supreme Court of Canada (SCC) released its written reasons in 9354-9186 Québec Inc. v. Callidus Capital Corp.[1](the Bluberi case).
On April 15, 2020, the British Columbia Supreme Court denied an application by a married couple previously found to have contravened B.C. securities laws for an absolute or suspended discharge from bankruptcy under s. 172 of the Bankruptcy and Insolvency Act (the “BIA”). The ruling sends a strong message that securities law violators will have difficulty using the bankruptcy process to absolve themselves of the financial consequences of their misdeeds.
In cosa consistono le misure di moratoria previste per le PMI dal decreto “cura Italia”?
Il Decreto “cura Italia” prevede che le micro e le PMI che hanno sofferto crisi di liquidità a causa dell’epidemia da Covid-19 possano:
Italy is already implementing the Directive (EU) 2019/1023 of the European Parliament and the Council of 20 June 2019 (the “Directive”), related to the preventive restructuring frameworks, discharge and measures aiming at increasing the effectiveness of restructuring, insolvency and discharge procedures, that Member States shall implement within 17 July 2021.
L’Italia sembra essere in netto anticipo nel recepimento della direttiva (UE) 2019/1023 del Parlamento Europeo e del Consiglio del 20 giugno 2019 (la “Direttiva”), riguardante i quadri di ristrutturazione preventiva, l'esdebitazione e le interdizioni, e le misure volte ad aumentare l'efficacia delle procedure di ristrutturazione, insolvenza ed esdebitazione, che gli Stati membri dovranno fare propria entro il 17 luglio 2021.
Introduction
On August 29, 2019, the majority of the Alberta Court of Appeal held in Canada v. Canada North Group Inc., 2019 ABCA 314 (Canada North) that priming charges granted in a Companies’ Creditors Arrangement Act (CCAA) Initial Order can have priority over the Crown’s deemed trust for unremitted source deductions. [1]
Il 14 febbraio 2019 è stato pubblicato sulla Gazzetta Ufficiale il Decreto Legislativo 12 gennaio 2019, n. 14 che, in attuazione della Legge delega 19 ottobre 2017, n. 155, introduce il nuovo “Codice della crisi d’impresa e dell’insolvenza”.
On 14 February 2019, the Legislative Decree 12 January 2019, n. 14, implementing the Delegated Law 19 October 2017, no. 155 and introducing the new “Code of the business crisis and insolvency” was published in Official Gazette.
In application of the transitional provisions, the regulatory measure (hereinafter only “Code”) will enter into force 18 months after its publication, with the exception of certain provisions (including the express repeals in the criminal sector), which are deemed to be in force, 30 days after the publication of the Code.