In a recent Bennett Jones Update—Property Tax Priorities in Alberta Insolvency Proceedings: Current Uncertainty—we discussed three recent decisions of the Court of Queen's Bench of Alberta that had addressed the question of the priority of municipal property taxes in insolvency proceedings.

The Alberta Energy Regulator's Statutory Power is Not in Conflict With the Bankruptcy and Insolvency Act

In a unanimous decision issued November 8, 2018, the Supreme Court of Canada granted the appeal of the decision of the Federal Court of Appeal in Canada v Callidus Capital Corp, 2017 FCA 162.

In a unanimous decision issued November 8, 2018, the Supreme Court of Canada granted the appeal of the decision of the Federal Court of Appeal in Canada v Callidus Capital Corp, 2017 FCA 162.

Recent decisions of the Court of Queen's Bench of Alberta have put into question the priority of municipal property taxes in insolvency proceedings. Two such decisions are the subject of pending appeals. A third recent decision of the Court of Queen's Bench of Alberta has confirmed the scope of a special lien for municipal property taxes. This article is the first in a series addressing these issues.

Virginia Hills: Linear Tax Claims

On June 26, 2018, Regional Senior Justice Morawetz of the Ontario Superior Court of Justice granted an order approving a plan of arrangement under the Canada Business Corporations Act (“CBCA”), in respect of Concordia International Corp.

2017 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity Funds and

Other Private Funds

2017 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity

Funds and Other Private Funds

The following annual review and outlook (Annual Review) is a summary of some of the significant changes and developments that occurred in the past year and certain recommended practices that investment advisers to hedge funds, private equity funds and other private funds (collectively, private funds) should consider when preparing for 2018.

The Alberta Court of Queen's Bench recently reviewed the law regarding priority of operator’s liens and emphasized the heavy evidentiary burden to be satisfied by a creditor asserting a possessory lien in Cansearch Resources Ltd v Regent Resources Ltd, 2017 ABQB 535.

Cansearch’s Operator’s Lien and the Bank’s Security

The Saskatchewan Court of Appeal recently released a landmark decision National Bank of Canada v KNC Holdings Ltd, 2017 SKCA 57 (National Bank) which will significantly affect the priority ranking of certain Saskatchewan builders' lien claims in insolvency proceedings. In a unanimous decision, the Court overruled a long line of authorities which had held that builders' liens arising in connection with the recovery of minerals could defeat prior-registered security interests.

The Ontario Court of Appeal recently released a decision allowing a certification application by a union to proceed in the face of a receivership of the employer. The decision garnered a strong dissent from Justice Lauwers, suggesting that the decision of the majority would "effect a sea change in insolvency law."