Are a licensee’s rights to use a trademark safe if the licensor files for bankruptcy and rejects the trademark license? This is a question the U.S. Supreme Court may resolve later this year.

Section 523(a)(2)(B) of the Bankruptcy Code provides that a discharge under the Bankruptcy Code does not discharge an individual debtor from any debt for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by use of a statement in writing that is materially false, respecting the debtor’s financial condition, on which the creditor to whom the debtor is liable for such money, property, services, or credit reasonably relied, and that the debtor caused to be made or published with intent to deceive.

In Bakery and Confectionery Union Fund v. Just Born II, Inc., the 4th U.S. Circuit Court of Appeals on April 26, 2018, affirmed the district court’s judgment requiring Just Born to pay delinquent contributions into the Bakery and Confectionery Union and Industry International Pension Fund (the Pension Fund), as well as interest, statutory damages and attorneys’ fees.

Courts agree that bankruptcy trustees control bankrupt corporations' privilege – just as corporations' successor management controls privilege protection. But does the same approach apply in an individual's bankruptcy setting?

In October 2017, the 2nd U.S. Circuit Court of Appeals, in In re MPM Silicones (Momentive) LLC, held that a non-consenting class of creditors is entitled to receive post-confirmation interest at a market rate if an efficient market exists to determine such a rate. In reaching its decision, the 2nd Circuit overruled prior decisions by the Bankruptcy Court and the District Court, which had held that the applicable rate of interest should be determined using the formula method adopted by the Supreme Court in Till v. SCS Credit Corp., 541 U.S.

The Owners, Strata Plan VR 1966[1] marks the first time the BC Supreme Court has rejected an application to wind-up a strata corporation pursuant to Bill 40 under the Strata Property Act

The Alberta Court of Appeal has dismissed the appeal brought by the Alberta Energy Regulator and the Orphan Well Association from the decision of the Court of Queen’s Bench of Alberta in Re Redwater Energy Corporation. A majority of the panel held that the provisions of the provincial legislation governing certain actions of licensees of oil and gas assets do not apply to receivers and trustees in bankruptcy of insolvent companies, given the paramountcy of the Bankruptcy and Insolvency Act over provincial legislation where the governing provisions conflict.

As from 1 April 2017, any statement of claim as part of bankruptcy proceedings should be submitted online to the Central Solvency Register (Registre Central de la Solvabilité / Centraal Register Solvabiliteit) via the website www.regsol.be.

Given the substantial amount of capital invested in Canadian businesses by American investors a considerable number of trust indenture documents are governed by US law and are “qualified” under the Trust Indenture Act of 1939 (the “TIA”).

As we reported in our March 2017 bulletin "And then there were none; Ontario has repealed the Bulk Sales Act", the Bulk Sales Act (Ontario) (the “BSA”) was repealed as a result of the coming into force of Schedule 3 of Bill 27, the Burden Reduction Act, 2017.