Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.
Uncrystallised pension pot remains protected following bankruptcy
The Court of Appeal resolves some of the conflict between insolvency and pensions law in its decision on Horton v Henry.
The Court of Appeal has upheld the High Court decision of the Deputy Judge in Horton v Henry (2014) confirming that a trustee in bankruptcy cannot access uncrystallised funds in a bankrupt's pension arrangements (or force the bankrupt to access them himself).
The economies of the United States and Canada are closely intertwined. As operations expand across the border, so too do the complexities associated with carrying on business — particularly the insolvency of a company spanning both jurisdictions. As such, understanding how to navigate the complexities of Canadian insolvency regimes is essential to successfully doing business in the country.
37026 Steven Paul Boone v. Her Majesty the Queen
(Ont.)
Criminal law – Offences – Elements of offence
The recent decision of the Ontario Court of Appeal in Crate Marine Sales 1serves as a reminder regarding the trigger for the obligation of a court appointed receiver to pay occupation rent.
Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.
This article was first published on the Practical Law website and in the PLC Magazine in June 2016.
Challenger banks, which are set up to compete with the larger traditional banks, have seen rapid growth in the wake of increased openness to change in the banking sector and a desire for more consumer choice. Their clever targeting of niche markets is opening up plenty of scope for growth. While this opportunity does not come without difficulties, the rewards for challenger banks that succeed can be considerable.
36979 Darin Andrew Randle v. Her Majesty the Queen
(B.C.)
Criminal law – Evidence – “Mr. Big” confessions
In a prior post, we set forth the potential liability of employers for collection of debts owed by employees in violation of the bankruptcy stay. To protect themselves from such liability, employers that accrue claims against their employees in the ordinary course of business should implement written protocols designed in consultation with bankruptcy counsel.
The Bankruptcy Court for the District of Delaware recently held that the Bankruptcy Code Section 546(e) safe harbors do not prevent a liquidation trust from pursuing some state law constructive fraudulent conveyance claims assigned to the trust by creditors.1 Notably, the Bankruptcy Court declined to follow the Second Circuit's recent Tribune decision, in which the Second Circuit concluded that the Section 546(e) safe harbors apply to state law constructive fraudulent conveyance claims on federal preemption grounds.2 Instead, the Bankruptcy Court decided that federal preemption did not appl