Les opérations de gestion du passif gagnent en popularité dans le monde du financement par emprunt. Lorsque les emprunteurs et les émetteurs de titres de créance éprouvent des difficultés à honorer les obligations liées à leurs facilités de crédit, à leurs obligations d’épargne ou à d’autres titres de créance, ils ont recours à des opérations de gestion du passif pour restructurer leurs engagements afin d’obtenir des liquidités supplémentaires sans avoir à obtenir le consentement unanime de leurs créanciers actuels.
The highest profile duty to consult case this past year was the Federal Court of Appeal’s decision in Coldwater First Nation v. Canada (Attorney General), 2020 FCA 34, relating to the Trans Mountain Pipeline Expansion Project (TMX Project). This was a judicial review of the federal Cabinet’s decision to approve the TMX Project for the second time subject to numerous conditions. The TMX Project involves the twinning and expansion of an existing pipeline from Edmonton, Alberta to Burnaby, British Columbia.
In Galantis v Alexious, [2019] UKPC 15 the Privy Council concluded that the oppression remedy existing under the Bahamian Companies Act cannot be invoked after the dissolution of a company, with respect to oppressive conduct by directors that occurred before the dissolution of the company.
PLAN SPONSOR ENTITLED TO VOTE AS CREDITOR AND CREDITOR APPROVAL REQUIRED TO IMPLEMENT LITIGATION FUNDING AGREEMENT.
While 2018 saw a slight decrease in nationwide CCAA filings (with 19 total cases commenced, compared to 23 in 2017), there were a number of important decisions rendered throughout the country. The highlights are summarized below:
Supreme Court of Canada clarifies Crown priority for GST claims
McCarthy Tétrault’s Doing Business in Canada provides a user-friendly overview of central aspects of the Canadian political and legal systems that are most likely to affect new and established business in Canada. The newest edition includes sections on: Immigration (at page 129); Employment (at page 151); and Dispute Resolution (at page 171).
General guidance is included throughout the publication on a broad range of discussions. We also recommend that you seek the advice of one of our lawyers for any specific legal aspects of your proposed investment or activity.
In a previous post we discussed how the Court of Queen’s Bench of Alberta recently authorized a sale transaction after being satisfied with the appropriateness of a sales process that was undertaken prior to the issuance of the receivership order.
Individuals who serve as directors or offices of public companies in Canada face an increasing amount of shareholder litigation and a complex web of legal and regulatory provisions that must be managed, navigated and adhered to. The challenge to directors only increases when the company is insolvent, on the eve of insolvency or otherwise in some form of financial distress. If the insolvency is driven by a liquidity crisis the company may be hard-pressed to maintain day-to-day operations and preserve going concern value for stakeholder groups. Alternatively, if the pr
The Financial Accounting Standards Board (FASB) issued proposed amendments on June 26, 2013, to provide guidance about management's responsibilities in evaluating a company's going concern uncertainties in addition to the timing and content of related footnote disclosures. Even before a company’s liquidation is imminent, there may be uncertainties about a company’s ability to continue as a going concern and, therefore, about its going concern presumption (going concern uncertainties). Currently, there is no guidance in the U.S.
During the spring of 2012, the Canadian Appeals Monitor posted a five-part series on the Supreme Court’s judgments in Van Breda, Black, and