Yesterday, the Alberta insolvency community breathed a collective sigh of relief as the Alberta Court of Appeal issued its long-awaited decision in Canada v.
Yesterday the U.S. Supreme Court ruled that bankrupt trademark licensors cannot unilaterally rescind trademark license rights previously granted, resolving a longstanding split among the circuits and providing much needed certainty to intellectual property (IP) licensors and licensees. In fact, the International Trademark Association had dubbed this "the most significant unresolved legal issue in trademark licensing."
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act).
As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan) (the PPSA or the Act).
The Supreme Court of Canada (“SCC”) has released its decision in Orphan Well Association v.
Will this proposal capture unfunded liabilities under defined benefit pension plans?
Secured Creditor’s Priority Over Unremitted GST/HST: SCC Grants Callidus Capital Corporation Leave to Appeal
On March 22, 2018, the Supreme Court of Canada granted Callidus Capital Corporation (the “Secured Creditor”) leave to appeal the Federal Court of Appeal decision that interpreted subsection 222(3) of the Excise Tax Act (Canada) (the “ETA”) as giving the Crown super priority to property received by a secured creditor from a tax debtor before bankruptcy.
On March 22, 2018, the Supreme Court of Canada granted Callidus Capital Corporation (the “Secured Creditor”) leave to appeal the Federal Court of Appeal decision that interpreted subsection 222(3) of the Excise Tax Act (Canada) (the “ETA”) as giving the Crown super priority to property received by a secured creditor from a tax debtor before bankruptcy.
Le 22 mars 2018, la Cour suprême du Canada a accordé à Callidus Capital Corporation (le « créancier garanti ») l’autorisation d’interjeter appel de la décision de la Cour d’appel fédérale dont l’interprétation du paragraphe 222(3) de la Loi sur la taxe d’accise (Canada) (la « LTA ») donne à la Couronne la priorité absolue sur les biens reçus par un créancier garanti d’un débiteur fiscal avant la faillite.
The Sixth Circuit Court of Appeals in its recent decision in Town Center Flats, LLC v. ECP Commercial II LLC (In re Town Center Flats LLC), Case No. 16-1812 (6th Cir. May 2, 2017), reinforces an option that commercial lenders in certain states have as a defensive strategy in anticipation of a single-asset real estate bankruptcy involving a defaulted multi-family or hotel loans. The decision is dependent on state law regarding the effect of an absolute assignment of rents and the exercise of the lender’s rights under such an assignment clause.