Fulltext Search
SCOTUS Denies Relief for Sacklers’ OxyContin Pains

On June 27, 2024, the Supreme Court of the United States (“SCOTUS” or the “Court”) released its widely-anticipated decision in Harrington, United States Trustee, Region 2 v. Purdue Pharma L.P.

Canada, USA, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Supreme Court of the United States, United States bankruptcy court
Firepower: Guidance on Whether Commissions Owed to Salespersons Are Held in Trust by a Business and Outside of Insolvency

In Firepower Debt GP Inc. v.

Canada, USA, Ontario, Insolvency & Restructuring, Litigation, Real Estate, McCarthy Tétrault LLP
CCAA Debtor in Possession Financing without “Adequate Protection”

There are a number of similarities between restructuring legislation in Canada and the United States.  Each of Canada and the United States have adopted a form of the UNCITRAL Model Law Cross-Border Insolvency in order to facilitate cooperation and efficient administration of cases with an international component.  In Canada this has occurred through implementation of both Part XIII of the 

Canada, USA, Insolvency & Restructuring, McCarthy Tétrault LLP, Debtor, Debtor in possession
Rule of law may be newest victim of the credit crisis

There has been no shortage of victims in this financial crisis. Pensions and retirement savings have been severely reduced, jobs have been lost and once powerful financial institutions have failed. But, there is, perhaps, another victim that has largely gone unnoticed: the rule of law.

In his Evil Empire speech before the British House of Commons in June 1982, President Ronald Reagan refocused American political values on the rule of law.

USA, Banking, Insolvency & Restructuring, McCarthy Tétrault LLP, Bankruptcy, Shareholder, Unsecured debt, Debt, Stakeholder (corporate), US Federal Government, UK House of Commons, American International Group, Bank of America, Merrill, Lehman Brothers, Citibank, Bear Stearns
Do you have to sell to an insolvent purchaser?

Given the state of the economy, it will not be a rare occurrence in the short term for a supplier to receive a request to sell and deliver further goods to a purchaser who has filed proceedings under the Companies Creditors Arrangement Act (CCAA) or Chapter 11 of the United States Bankruptcy Code — and who is already indebted for unpaid pre-filing sales.

USA, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Letter of credit, Credit (finance), Debtor, Unsecured debt, Injunction, Debt, Supply chain, Precondition, Default (finance), United States bankruptcy court, Seventh Circuit
Technology licenses upon bankruptcy

Imagine that a critical part of your business is dependent on a software program that you license from a software supplier. This scenario is not that hard to imagine, because in fact most businesses and other organizations are indeed reliant on licensed software – it is simply a fact of life in the computer age.

Canada, USA, Insolvency & Restructuring, IT & Data Protection, Litigation, McCarthy Tétrault LLP, Bankruptcy, Debtor, Computer program, Bankruptcy and Insolvency Act 1985 (Canada)