Avant de rendre sa décision, la Cour fait état de la « controverse jurisprudentielle » quant à la nécessité de signifier au préalable les préavis d’exercice du droit hypothécaire du Code civil du Québec avant d’être autorisé à procéder à une vente d’actifs en vertu de l’article 243 LFI. Trois (3) décisions en ce sens ont été rendues par la Cour du district de Saint-François à ce sujet, alors qu’une (1) décision rendue dans le district de Montréal est à l’effet contraire.
We are asked from time to time to assist with the dissolution of an existing registered charity. However, often we suggest to our clients that it might be better for them to either amalgamate the existing charity into another charity or keep it in existence but inactive.
There are various reasons why charities wish to dissolve. Sometimes the problem that they were established to address has been solved. Sometimes there is no leadership left to govern or manage the charity. Other times the work once done by the charity has been taken over by another charity.
One of the primary reasons why people declare bankruptcy is that upon being discharged, the bankrupt person is released from their obligation to repay most of the debts that had existed at the time they went bankrupt. I say most because there are certain exceptions to this rule, debts that the Bankruptcy and Insolvency Actitemizes as debts not released by an order of discharge.
Intellectual property rights are meant to protect that which cannot be easily protected: ideas, images, music and brands. The creators of these intangible concepts are given an economic monopoly over them, in the hopes of fostering greater creativity and economic growth. Bankruptcy law, on the other hand, seeks to equitably distribute the property of the bankrupt among its creditors, subject to the rights of secured creditors. There is an inherent conflict between the rights of two groups.
Introduction
The Manitoba Court of Appeal will consider an interesting insolvency case involving hog feed suppliers who claim of priority for the cost of feed over Farm Credit Canada and Bank of Montreal, the hog producer’s secured creditors.
In general, the Court found Suppliers may have an unjust enrichment claim arising from an alleged fraud on the part of producer, who allegedly ordered feed while preparing for the Companies Creditors Arrangement Act (“CCAA”) application with no intention of paying for the feed.
Introduction
Incidents of insolvency in the construction industry are under the spotlight after the recent failure of a number of construction companies1. Insolvency events affect not only the insolvent company, but all of those involved in the project supply chain, from suppliers and subcontractors who have not received payment for goods and works supplied, to owners and developers who experience delays and increased costs to their projects.
In August 2012 the NSW Government commissioned an Independent Inquiry into Construction Industry Insolvency. The Inquiry was asked to assess the causes and extent of insolvency in the building and construction industry and to recommend measures to better protect subcontractors from the effects of insolvency.
For some, environmental liability is akin to a game of hot potato. In other words, no one wants to be the one left holding the potato when the music stops playing - otherwise they could be facing significant obligations to remedy contaminated lands. As remediation costs can be significant, owners, purchasers and creditors must tread carefully when dealing with contaminated real estate.
On 19 September 2012, the Norton Rose Construction and Engineering team presented a breakfast briefing titled: “Financial Distress in Construction Projects: What happens when the wheels fall off?”
This briefing identified the warnings signs of insolvency, what steps parties can take to minimise exposure, how best to respond to a party’s insolvency and the options available to prevent insolvency in the first place.