In the matter of the Companies' Creditors Arrangement Act ("CCAA") of SM Group, the Supreme Court of Canada rendered a decision regarding compensation in CCAA proceedings. The court ruled that a creditor's right to pre-post compensation under civil or common law may be stayed by a court pursuant to sections 11 and 11.02 of the CCAA.

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.

The new formal rescue process for small and medium sized companies, SCARP, is now formally a part of Irish law. The legislation underpinning the new rescue process was officially commenced on Tuesday 7 December 2021.

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 High Court recently refused a winding up petition brought by a landlord against a tenant company that had not paid rent on its commercial premises for more than a year.

Lestown Property Limited v The Companies Act 2014 [2021] IEHC 513.

A dispute arose between a landlord, Lestown Property, and a tenant that operated a Leisureplex in Charlestown Shopping Centre. The Leisureplex was only accessible through the lobby of an adjacent cinema. The cinema was leased to a separate entity and was closed during the COVID-19 pandemic.

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 Government has issued a press release stating that it has approved the publication of an upcoming Bill providing the legislative basis for a new insolvency process: the Small Company Administrative Rescue Process (“SCARP”). The announcement follows the publication of the General Scheme of the Bill last month and its indications that it would be prioritising this legislation.

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.