In a recent application for directions from the High Court, the Office of the Director of Corporate Enforcement (the “ODCE”) brought a motion to compel a liquidator contest an appeal by directors of a restriction order made against them in the High Court.

Section 683 of the Companies Act 2014 (“CA14”) requires the liquidator of an insolvent company to apply for an Order restricting the directors. It does not require liquidator to contest an appeal by directors. The ODCE ultimately withdrew the application and paid costs, but the application raises concerns for all liquidators.

The Alberta Court of Appeal has dismissed an appeal brought by three municipalities (the "Municipalities") seeking status as secured creditors entitled to special priority for payment of linear property taxes.

In Northern Sunrise County v Virginia Hills Oil Corp, 2019 ABCA 61, the primary issue was whether the Municipal Government Act ("MGA") grants to an Alberta municipality a special lien for linear property taxes, which lien ranks senior in priority to contractual security interests if the tax debtor is not bankrupt or subject to other insolvency proceedings.

Background

The Alberta Court of Appeal has dismissed an appeal brought by three municipalities (the “Municipalities”) seeking status as secured creditors entitled to special priority for payment of linear property taxes.

With the growing concern over the environmental impacts of commercial activity, provinces have enacted and expanded environmental legislation in order to hold companies accountable for the costs of remediating the environmental harm they cause. However, regulators have struggled with how to hold companies accountable for environmental harm when they become insolvent. For many years, clean-up obligations have been treated as unsecured claims lacking priority over secured claims. On January 31, 2019, the Supreme Court o

With the growing concern over the environmental impacts of commercial activity, provinces have enacted and expanded environmental legislation in order to hold companies accountable for the costs of remediating the environmental harm they cause. However, regulators have struggled with how to hold companies accountable for environmental harm when they become insolvent. For many years, clean-up obligations have been treated as unsecured claims lacking priority over secured claims.

A five judge majority of the Supreme Court of Canada has allowed an appeal brought by the Alberta Energy Regulator ("AER") and the Orphan Well Association from the decision of the Alberta Court of Appeal in Orphan Well Association v Grant Thornton Limited, 2017 ABCA 124 ("Redwater"). The case has been one of the most closely watched by the Canadian oil and gas industry in decades.

The dispute in Redwater centred on the renunciation of uneconomic oil and gas wells, pipelines and facilities that are subject to provincial abandonment and remediation liabilities.

A five judge majority of the Supreme Court of Canada has allowed an appeal brought by the Alberta Energy Regulator (“AER”) and the Orphan Well Association from the decision of the Alberta Court of Appeal in Orphan Well Association v Grant Thornton Limited, 2017 ABCA 124 (“Redwater”). The case has been one of the most closely watched by the Canadian oil and gas industry in decades.

The sale of gift vouchers and their terms and conditions is largely unregulated in Ireland.

Although there is no specific legislation, gift vouchers provided to consumers are subject to the provisions of general consumer protection legislation, such as the Consumer Protection Act 2007.

Gift vouchers that cover a wide range of traders and retailers such as the “All4One” vouchers come within the definition of “electronic money” in the European Communities (Electronic Money) Regulations 2011 are subject to the provisions of those Regulations.

We previously wrote about the decision in The Queen v. Callidus Capital Corporation of the Federal Court of Appeal in our Restructuring and Tax Bulletin, here. The decision, released in July 2017, was overturned on November 8, 2018 by the Supreme Court of Canada, offering sought-after certainty for secured lenders. Access the ruling here.

Coast Stores, the occasional wear retailer and high street stallworth has gone into administration in the UK.

Coast’s sister brand Karen Millen had partially rescued the company, buying its department store concessions arm, website, safe guarding up to 600 jobs. However, as part of a pre pack administration deal, it will not be maintaining Coasts overseas stores or its UK high-street stores.