National Leasing Group Inc. v. Raymond Veterinary Clinic Ltd., [2009] A.W.L.D. 2017, 2009 ABQB 219 (Alta. Q.B.)

The Lessor leased specialized medical equipment to the corporation and three individuals as lessees. The veterinary clinic failed and closed its doors.

TD Bank v. Dunn-Rite Cattle Corp. [2009] A.W.L.D. 2075; 2009 ABQB 227 (Alta. Q.B.), on hearing of issue from (2006) 26 C.B.R. (5th) 1 (Alta. C.A.)

The master granted TD priority to the subject cattle ahead of the Dunns’ lien pursuant to the since repealed Livery Stable Keepers Act. The Dunns appealed to the Alberta Court of Appeal, which allowed the appeal and because of sparse evidence, directed the matter of priority be heard by the Court of Queen’s Bench.

KWL Advertising Limited (in liquidation) ("KWL") -v- Kountouris & Kountouris, Guernsey UnreportedJudgment, 18 October 2006

If you are interested in submitting a bid to buy assets from a Court appointed receiver in Ontario and there is a Court approved sales process, then it is important to submit your bid as part of that Court approved sales process. A bid tendered outside the sales process time line and procedure (even if it turns out to be the highest bid) will generally end up being a losing bid.

In the matter of the Representation of Gregory Branch and Lee Manning, Joint Liquidators of AAA Holdings Limited (in liquidation) [2009]JRC110

This judgment is of interest as being the first occasion on which the Royal Court in Jersey was asked to sanction the compromise of a claim under Article 170 of the Companies (Jersey) Law 1991 (the "Companies Law").

Often, when creditors start to take action against a debtor, the debtor will seek relief through the Bankruptcy and Insolvency Act(i). Some Trustees in bankruptcy even advertise that the bankruptcy process can be an important step on the road to “financial well being”. Creditors, upon receiving notice of their Debtor’s bankruptcy, may feel that the chance of any recovery all but disappears with the assignment into bankruptcy.

Bisson -v- Barker, P. Bish, H. Bish and Viscount 2008 JLR N[46]

This decision addresses the court's powers to order the winding up of a company on just and equitable grounds pursuant to Article 155 of the Companies (Jersey) Law 1991.
The company in question (the "Company") had operated two businesses in the Island. Relations between certain of the shareholders, involved in the management of the two businesses, broke down, such that it became impossible for them to continue to work together.

The Viscount

No doubt by now, every creditor knows of the new protections given to employees in the face of a company’s insolvency as a result of the enactment of the Wage Earner Protection Program Act (“WEPPA”) and related amendments to the Bankruptcy and Insolvency Act (“BIA”) on July 7, 2008.

Debtor in Possession (“DIP”) financing is essentially new bridge financing that is provided to a corporation as it undergoes insolvency proceedings. The term exists because the corporation maintains possession of its assets during this process as opposed to having a bankruptcy trustee take possession. The concept derived from the United States of America where DIP financing is expressly provided for under c.11 of the Bankruptcy Code and allows a bankrupt corporation to incur new debt for the purposes of carrying on business operations.

Radius Credit Union Limited v. Royal Bank of Canada [2009] S.J. No. 148, 2009 SKCA 36, on appeal from
2007 SKQB 472

1992: Farmer Wayne Hingtgen (“Debtor”) granted a general security agreement to Radius
Credit Union Limited (“CU”) granting a security interest on all his present and after
acquired assets.