Legal & Regulatory
BRRD: FCA publishes modification by consent for Article 55 rules
Second Circuit holds that Bankruptcy Code preempts creditors’ state law constructive fraud claims.
On February 29, 2016, the Ontario Superior Court of Justice released a decision in the ongoing insolvency proceeding of U. S. Steel Canada Inc. (USSC). Two principal issues were addressed by the Court. First, whether amounts advanced by United States Steel Corporation (USS) to USSC (its indirect wholly-owned subsidiary) were properly characterized as debt obligations or “equity claims” under the Companies’ Creditors Arrangement Act (Canada) (CCAA).
Le 29 février 2016, la Cour supérieure de justice de l’Ontario (la « Cour ») a rendu une décision dans le cadre de la procédure d’insolvabilité en instance d’Acier U. S. Canada Inc. (« USSC »). Dans cette affaire, la Cour s’est penchée sur deux grandes questions.
UN | PÉTROLE ET GAZ
PENSION ADMINISTRATION
York (Police Services Board) v. York Regional Police Association, 2015 CanLII 62103 (ON LA)
The change provides clarity regarding the pledges over credit rights, restoring pledges as effective and efficient security interests.
Grant Forest Products Inc. v. The Toronto-Dominion Bank, 2015 ONCA 570
Material changes to the Italian bankruptcy law will likely result in increased interest of investors in the distressed market.
The Italian legislators passed significant amendments to the legal framework applicable to debt restructurings and bankruptcy proceedings with law decree No. 82/2015, subsequently converted, with amendments, in law No. 192/2015 (Law 192).
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