The court offers guidance on reversing lawful dividend payments and when directors need to take intoaccount creditors’ interests.

On 6 February 2019, the UK Court of Appeal published a judgment in BTI v. Sequana that will impact both creditors and directors of English companies.

The Alberta Court of Appeal has dismissed an appeal brought by three municipalities (the "Municipalities") seeking status as secured creditors entitled to special priority for payment of linear property taxes.

In Northern Sunrise County v Virginia Hills Oil Corp, 2019 ABCA 61, the primary issue was whether the Municipal Government Act ("MGA") grants to an Alberta municipality a special lien for linear property taxes, which lien ranks senior in priority to contractual security interests if the tax debtor is not bankrupt or subject to other insolvency proceedings.

Background

The Alberta Court of Appeal has dismissed an appeal brought by three municipalities (the “Municipalities”) seeking status as secured creditors entitled to special priority for payment of linear property taxes.

With the growing concern over the environmental impacts of commercial activity, provinces have enacted and expanded environmental legislation in order to hold companies accountable for the costs of remediating the environmental harm they cause. However, regulators have struggled with how to hold companies accountable for environmental harm when they become insolvent. For many years, clean-up obligations have been treated as unsecured claims lacking priority over secured claims. On January 31, 2019, the Supreme Court o

Latham & Watkins operates worldwide as a limited liability partnership organized under the laws of the State of Delaware (USA) with affiliated limited liability partnerships conducting the practice in France, Hong Kong, Italy, Singapore, and the United Kingdom and as an affiliated partnership conducting the practice in Japan. Latham & Watkins operates in South Korea as a Foreign Legal Consultant Office. Latham & Watkins works in cooperation with the Law Office of Salman M. Al-Sudairi in the Kingdom of Saudi Arabia.

With the growing concern over the environmental impacts of commercial activity, provinces have enacted and expanded environmental legislation in order to hold companies accountable for the costs of remediating the environmental harm they cause. However, regulators have struggled with how to hold companies accountable for environmental harm when they become insolvent. For many years, clean-up obligations have been treated as unsecured claims lacking priority over secured claims.

The Weinstein Company Holdings bankruptcy decisions clarify a buyer’s ongoing obligations under contracts purchased in bankruptcy, subject to resolution of appeals.

Executive Summary

Via libera definitivo del Consiglio dei Ministri al decreto legislativo attuativo della riforma organica del diritto della crisi d’impresa e dell’insolvenza.

A five judge majority of the Supreme Court of Canada has allowed an appeal brought by the Alberta Energy Regulator ("AER") and the Orphan Well Association from the decision of the Alberta Court of Appeal in Orphan Well Association v Grant Thornton Limited, 2017 ABCA 124 ("Redwater"). The case has been one of the most closely watched by the Canadian oil and gas industry in decades.

The dispute in Redwater centred on the renunciation of uneconomic oil and gas wells, pipelines and facilities that are subject to provincial abandonment and remediation liabilities.

A five judge majority of the Supreme Court of Canada has allowed an appeal brought by the Alberta Energy Regulator (“AER”) and the Orphan Well Association from the decision of the Alberta Court of Appeal in Orphan Well Association v Grant Thornton Limited, 2017 ABCA 124 (“Redwater”). The case has been one of the most closely watched by the Canadian oil and gas industry in decades.