In the recent decision of Chin v Beauty Express Canada Inc. (“Chin”), the Ontario Superior Court of Justice considered the impact of an employee’s service with a prior employer on the employee’s entitlement to reasonable notice of termination.

Summary

Once again, since spring 2020, the German legislator is adapting fundamental provisions of German insolvency law. Find out here what this is about and what implications the changes have for enterprises.

At the beginning of the COVID-19 pandemic, the obligation for businesses in Germany to file for insolvency was temporarily suspended by the COVID-19 Insolvency Suspension Act (COVInsAG). Accompanied by financial support measures, the German government wanted to counter the economic effects of the pandemic and enable companies to survive.

A recent decision of the Ontario Court of Appeal invalidated an arbitration and forum selection clause in a commercial agreement in favour of having a dispute between the debtor and its former customer adjudicated within a receivership proceeding.

Summary

Reverse vesting orders (or “RVOs”) have become an increasingly popular and useful tool for maximizing recovery in complex insolvencies in Canada, particularly in circumstances where traditional alternatives of asset sales or restructuring plans are not effective or practical. RVOs are very attractive to purchasers of distressed businesses because they can efficiently preserve the value of permits, tax losses and other assets which cannot be easily transferred to a purchaser through an asset transaction.

The bankruptcy Pegasus: stalking horse agreements in aviation

Summary

If a person presents a petition for their own bankruptcy (“self-petition”), are there any safeguards to ensure that the self-petition is genuine, as opposed to a cynical device by the person to buy themselves time to pay, or to give themselves some negotiating position with their creditors?

This interesting question was considered in a recent Hong Kong judgment.

On December 10, 2021, the Supreme Court of Canada (“SCC”) rendered its decision in Montréal (City) v.

Summary

With government support instigated by the Covid-19 pandemic coming to an end, there is an inevitability that some hotel owners will sadly not have the liquidity to continue to operate in the medium term. Eager investors are seeing opportunities and are waiting to deploy capital. We examine the main considerations for investors who are looking to purchase distressed hotel assets out of an insolvency process.

General Introduction

The Supreme Court of Canada’s recent decision in Canada v.Canada North Group Inc.[1] provided much needed clarity regarding the order of priority for unremitted source deductions in restructuring proceedings.