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.
The Hong Kong High Court has found that cryptocurrencies are property in a landmark case, further boosting the city’s virtual asset industry and its ambition to become the Asian crypto hub.
The first High Court decisions in 2023; Metal Manufactures Pty Limited v Morton Metal Manufactures Pty Limited v Morton [2023] HCA 1 (‘Metal Manufactures’) and Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2 (‘Bryant’) have provided the final word on preference claims, establishing once and for all that:
1. set-off under s 553C of the Corporations Act 2001 (Cth) (‘the Act’) does not apply to unfair transactions; and
2. the peak indebtedness rule does not apply.
Our Restructuring & Insolvency Team reflects on the year, the industry trends and significant matters of 2022. The Team also looks forward as to what the next 12 months may have in store.
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.
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.
When a borrowing company goes into administration, lenders will want to enforce their security immediately. However, administration risk delays lenders from enforcing their security during the moratorium period without leave from the court or consent from the administrator.
This article provides an insight into administration risk, explains ways to mitigate administration risk and how featherweight securities can be effectively used.
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.
On December 10, 2021, the Supreme Court of Canada (“SCC”) rendered its decision in Montréal (City) v.
The Supreme Court of Canada’s recent decision in Canada v.Canada North Group Inc.[1] provided much needed clarity regarding the order of priority for unremitted source deductions in restructuring proceedings.