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Ontario Court of Appeal Holds Contempt Motion Can Be Subject to Stay in Bankruptcy

In Walchuk v. Houghton, the Ontario Court of Appeal held that the stay of all proceedings against a bankrupt pursuant to the Bankruptcy and Insolvency Act applies to a contempt motion brought by a judgment credi​tor where the contempt arises after the bankruptcy.

Canada, Ontario, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Bankruptcy, Debtor, Contempt of court, Capital punishment, Bankruptcy and Insolvency Act 1985 (Canada), Court of Appeal for Ontario, Court of Appeal of Singapore
Delaware Bankruptcy Court Rules Gift Cards Not Eligible for Priority Treatment

Decision clarifies standards for priority treatment under section 507(a)(7); important implications in retail bankruptcy cases for debtors, creditors - and consumers

Overview

USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Seyfarth Shaw LLP, Bankruptcy, Retail, Debtor, Unsecured debt, Consideration, Legal burden of proof, US Congress, United States bankruptcy court, US District Court for District of Delaware
Alberta Court of Appeal Grants Intervener Status to Four Participants in Appeal of Re Redwater Energy Corp.

The much-debated and closely-monitored Re Redwater Energy Corp.

Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Bankruptcy, Natural gas, Common law, Alberta Energy Regulator, Court of Appeal of England & Wales, Supreme Court of Canada, Court of Appeal of Alberta
Where do we go from here? Alberta Court approves renouncement of AER-licensed assets by Trustees and Receivers to avoid monetary environmental obligations

The Alberta Court of Queen’s Bench has released its highly anticipated decision in Redwater Energy Corporation (Re), 2016 ABQB 278 (“Redwater”).

Canada, Alberta, Energy & Natural Resources, Environment & Climate Change, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Bankruptcy, Bankruptcy and Insolvency Act 1985 (Canada)
Shifting Environmental Liabilities after the Redwater Decision

Summary

Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Environmental remediation, Liability (financial accounting), Alberta Energy Regulator
Ontario Court Refuses to Add Underwriters to Class Action against Bankrupt Issuer

In a decision released April 27, 2016 in LBP Holdings Ltd. v. Allied Nevada Gold Corp., Justice Belobaba dismissed a motion by a representative plaintiff to add certain underwriters as defendants to a securities class proceeding. The defendant gold mining company, Allied Nevada, effected a secondary public offering financed as a "bought deal" by two underwriters.

Canada, Ontario, Capital Markets, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Bankruptcy, Class action, Underwriting
Prior Involvement as Advisor to Debtor Company - Possible Bar to Appointment in Restructuring Proceedings

Financial institutions need to be mindful of the effect of the engagement of financial advisors with respect to their special loan clients.

Canada, Ontario, Banking, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Debtor
End of the Road: The Supreme Court of Canada Denies Leave to Appeal in Iona Contractors Ltd. v Guarantee Company of North America

The Supreme Court of Canada today released its highly anticipated decision in Iona Contractors Ltd. v Guarantee Company of North America, 2015 ABCA 240 dismissing the application for leave to appeal by the Trustee in Bankruptcy (the "Trustee") of the bankrupt, Iona Contractors Inc. ("Iona").

Canada, Alberta, Construction, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Supreme Court of Canada, Court of Appeal of Alberta
How Sports Authority’s Bankruptcy Filing Impacts Landlords and Trade Creditors, and Creates Opportunities for Retailers

On March 2, 2016, Sports Authority, Inc. (“Sports Authority”) and six of its affiliates filed for Chapter 11 bankruptcy in Delaware.  The filing will significantly impact Sports Authority’s landlords and trade creditors.  In a press release, Sports Authority stated that it intends to close or sell approximately 140 locations and two distribution centers in the coming months.  The company is also seeking $595 million in post-bankruptcy financing to continue operations.  Sports Authority is a sporting goods retailer with 463 locations in 41 states and Puerto Rico.

USA, Insolvency & Restructuring, Real Estate, Seyfarth Shaw LLP, Bankruptcy, Retail, Landlord
Third Circuit Allows Termination of Expired CBA Obligations

Employers scored a big victory in In re Trump Entertainment Resorts, a case of first impression in the Third Circuit, which held that a debtor-employer can terminate their obligations under an expired Collective Bargaining Agreement (CBA) and implement the terms of a final offer.

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USA, Employment & Labor, Insolvency & Restructuring, Litigation, Seyfarth Shaw LLP, Third Circuit