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Asserting Limitation Period Defences in the Bankruptcy Context

A Case Comment on AssessNet Inc. v. Ferro Estate, 2023 ONCA 577

Canada, Ontario, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Court of Appeal for Ontario
Appellate Guidance on Appealing Receivership Orders

Introduction

Canada, British Columbia, Company & Commercial, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Receivership, British Columbia Supreme Court, British Columbia Court of Appeal
In re: The Hacienda Company, LLC - A Budding Change in Bankruptcy Law for Cannabis Companies?

There may be hope on the horizon for insolvent Canadian cannabis companies who wish to seek recognition proceedings south of the border.

Canada, Company & Commercial, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Bankruptcy, Insolvency
Enforcing Crypto-Litigation Orders: Practical Difficulties Seen in Cicada 137 LLC v. Medjedovic

The enforcement of court orders that are designed to preserve, trace or track crypto-assets within North America is often limited in practice. As seen in the recent Ontario decision of Cicada 137 LLC v. Medjedovic (“Cicada”),[1] mechanisms by which legal enforcement principles can be effectively applied against stolen or misappropriated crypto-assets are constrained.

Canada, Banking, Insolvency & Restructuring, IT & Data Protection, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Due diligence, Cryptocurrency, Ontario Superior Court of Justice
Secured Lending in Canada: A Guide for U.S. Lenders

Close economic ties and interdependence between the US and Canada have been bolstered by free trade policies and intensified global competition, paving the way for continued opportunities for US businesses to tap into the Canadian market. These opportunities have resulted in an active cross-border lending market. In light of this, US lenders who are lending into Canada may encounter, and should be aware of, Canadian-specific legal issues and considerations.

Canada, USA, Banking, Capital Markets, Company & Commercial, Corporate Finance/M&A, Environment & Climate Change, Insolvency & Restructuring, IT & Data Protection, Real Estate, McMillan LLP, Office of the Superintendent of Financial Institutions (Canada), Uniform Commercial Code (USA)
Environmental Priorities in Insolvency Proceedings and the Impact on Lenders: Alberta Court Broadens Redwater Principles

A recent Alberta case continues the development of a line of cases at the intersection of environmental protection and bankruptcy and insolvency law in Canada.

Canada, Alberta, Environment & Climate Change, Insolvency & Restructuring, Litigation, McMillan LLP, Mediation, Due diligence, Supreme Court of Canada
Prior Employee Experience May Enhance Common Law Entitlements

In the recent decision of Chin v Beauty Express Canada Inc. (“Chin”), the Ontario Superior Court of Justice considered the impact of an employee’s service with a prior employer on the employee’s entitlement to reasonable notice of termination.

Canada, Employment & Labor, Insolvency & Restructuring, Litigation, McMillan LLP, Employment Standards Act 2000 (Ontario) (Canada), Ontario Superior Court of Justice
Single Proceeding Model Trumps Contractual Rights - Arbitration Clause Held “Inoperative” in Insolvency Proceeding

A recent decision of the Ontario Court of Appeal invalidated an arbitration and forum selection clause in a commercial agreement in favour of having a dispute between the debtor and its former customer adjudicated within a receivership proceeding.

Canada, Ontario, Arbitration & ADR, Insolvency & Restructuring, Litigation, McMillan LLP, Insolvency, Receivership, Supreme Court of Canada, Ontario Superior Court of Justice
Reverse Vesting Orders - When Is This “Extraordinary Measure” Appropriate?

Reverse vesting orders (or “RVOs”) have become an increasingly popular and useful tool for maximizing recovery in complex insolvencies in Canada, particularly in circumstances where traditional alternatives of asset sales or restructuring plans are not effective or practical. RVOs are very attractive to purchasers of distressed businesses because they can efficiently preserve the value of permits, tax losses and other assets which cannot be easily transferred to a purchaser through an asset transaction.

Canada, Insolvency & Restructuring, Litigation, McMillan LLP, Ontario Superior Court of Justice
SCC Rules No Absolute Bar on Pre-post Compensation (setoff), Overrules kitco and Provides Roadmap for Possible Pre-post Setoff in CCAA Cases

On December 10, 2021, the Supreme Court of Canada (“SCC”) rendered its decision in Montréal (City) v.

Canada, Insolvency & Restructuring, Litigation, McMillan LLP, Due diligence, Supreme Court of Canada