A recent chambers decision holding that gross overriding royalties (“GOR”) can be vested off in a reverse vesting order (“RVO”) is on its way up to the Court of Appeal of Alberta (the “ABCA”). The ABCA has granted leave to appeal Invico Diversified Income Limited Partnership v NewGrange Energy Inc, 2024 ABKB 214 (“Invico”).

The Chambers Decision

In the Endoceutics case[1], the Superior Court recently clarified the application of section 32 of the Companies’ Creditors Arrangement Act

Just over a year ago, the Alberta Court of King’s Bench (“ACKB”) decision in Qualex-Landmark Towers v 12-10 Capital Corp (“Qualex”)[1] extended the application of an environmental regulator’s priority entitlements in bankruptcy and insolvency to civ

Comme nous l’avions prédit dans nos numéros précédents de L’Actualité en insolvabilité, l’augmentation attendue du nombre de dossiers d’insolvabilité des entreprises s’est matérialisée en 2023. Dans ce numéro de L’Actualité en insolvabilité, nous exposons en détail les conclusions suivantes tirées de nos données : – Le nombre de dossiers d’insolvabilité d’entreprises a atteint son plus haut niveau en 2023 depuis 2019, soit une augmentation de 41,4 % comparativement au nombre de dossiers d’insolvabilité d’entreprises en 2020 et une augmentation de 30,7 % comparativement à celui de 2019.

Insolvency Now Business Insolvencies in Canada Hit a Record Post-Pandemic High in 2023 Issue 10

There were 64 filings under the Companies’ Creditors Arrangement Act (Canada) in 2023, which is an approximately 64% year-over-year increase. While this surge is interesting in and of itself, we believe that the volume of 2023 CCAA filings is also notable for the rich data it makes available to insolvency professionals. We used this opportunity to better understand how the CCAA was being employed by reviewing each filling.

Recent teachings of the Supreme Court of Canada court in Canada v Canada North Group Inc., 2021 SCC 30 [Canada North] had confirmed that the Companies’ Creditors Arrangement Act (‘CCAA’) courts could grant super-priority charges (e.g. interim financing, administration charge, or directors’ and officers’ charges) ranking in priority to s.

In a recent case involving Mantle Materials Group, Ltd. (2023 ABKB 488, “Mantle“), the intersection of environmental obligations and insolvency law in Canada has again come into sharp focus.

ntroduction The priority of governments and financial authorities around the world in 2023, including in Canada, has been to reduce inflation while monitoring and addressing financial sector risks. The Bank of Canada estimates that inflation will likely remain near 3% through 2024, given strong household spending levels supported by tight labour markets, population growth and high levels of accumulated household savings.

The stakes in the appeal from a recent case in Alberta,  Qualex-Landmark Towers  Inc  v  12-10  Capital Corp (“Qualex”) are rising with the recent decision of the Court of Appeal of Alberta granting leave to intervene to the Canadian Bankers Association [Qualex-Landmark Towers Inc v 12-10 Capital Corp, 2023 ABCA 177].  The Canadian Bankers Association sought leave to intervene on the basis that the decision in Qualex creates significant uncertainty for secured lending, particularly where the borrower may have environmental remediat