Dans l’affaire de la Loi sur les arrangements avec les créanciers des compagnies (« Lacc ») relative à Groupe SM, la Cour suprême du Canada prononce une décision sur la compensation dans le cadre de procédures en vertu de la Lacc.

On October 20, 2021, Democratic senators Elizabeth Warren (D-Mass.), Tammy Baldwin (D-Wisc.), Sherrod Brown (D-Ohio), and Jeff Merkley (D-Oregon), and Independent senator Bernard Sanders (I-Vermont), introduced to the United States Senate proposed legislation S. 3022, the Stop Wall Street Looting Act of 2021 (the “SWSLA”),¹ as a reworked version of legislation previously proposed in 2019.

In what appears to be an attempt at wholesale reform of the private equity industry and bankruptcy practice, the SWSLA proposes to:

Third-party, or nondebtor, releases have continued to attract attention from both commentators and legislators in the wake of recent cases such as Purdue Pharma LP, Boy Scouts of America and USA Gymnastics. Most recently, Senators Elizabeth Warren (D-Mass.), Dick Durbin (D-Ill.) and Richard Blumenthal (D-Conn.), and Representatives Jerrold Nadler (D-N.Y.) and Carolyn B.

In the matter of the Companies’ Creditors Arrangement Act (the “CCAA”) of Bloom Lake, the Superior Court of Québec rendered a judgment regarding the expansion of the powers of the monitor in a context where a creditor refused to produce documentation requested by the debtors.

Dans le cadre de l’affaire Bloom Lake relative à la Loi sur les arrangements avec les créanciers des compagnies (la « Lacc »), la Cour supérieure du Québec prononce un jugement au sujet de l'élargissement des pouvoirs du contrôleur dans un contexte où un créancier refusait de produire la documentation demandée par les débitrices.

The UK Government has announced today that temporary measures to protect businesses in distress introduced in response to the Covid-19 pandemic through the Corporate Insolvency and Governance Act 2020 will be lifted from 1 October 2021.

New measures intended to protect small businesses as the economy reopens, particularly in the retail, hospitality and leisure sectors, are to be introduced, with effect until 31 March 2022.

The Supreme Court of Canada (“SCC”) has released its decision in Canada North, conclusively resolving the priority dispute between deemed trusts created under the federal “fiscal statutes” (being the Income Tax Act (the “ITA”), the

On June 17, 2021, McCarthy Tétrault virtually hosted A Panel Discussion about the CCAA with Partners Heather Meredith, Jacques Rousse, and Awanish Sinha. The discussion focused on the Companies’ Creditors Arrangement Act (“CCAA”), reasons why organizations use the CCAA, and particular insights about the Laurentian University CCAA proceeding.

The following are some key takeaways from the panel:

The liquidity-fueled lull in restructuring activity provides both an interesting historical echo of the late 1990s and a useful opportunity for market participants to take note of a deceptively interesting opinion in Giuliano ex rel. Consolidated Bedding, Inc. v. L&P Financial Services Co. (In re Consolidated Bedding, Inc.), Case No. 19-50727, 2021 WL 2638594 (Bankr. D. Del. June 25, 2021) (Shannon, J.).

Dans l’affaire Chandos Construction Ltd c Restructuration Deloitte Inc, la Cour suprême rend une décision concernant le test applicable à la règle anti-privation, qui a pour but d’empêcher de contourner les règles législatives et de common law d’insolvabilité par voie contractuelle.