On April 5, 2021, The Collected Group, LLC, along with certain affiliates that design, distribute, and retail three contemporary, consumer-inspired, apparel lifestyle brands: Joie, Equipment, and Current/Elliott, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10663).
On March 30, 2021, Houston-based retail power provider Entrust Energy, Inc., filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (Case No. 21-31070). The company reports $100 to $500 million in assets and $50 to $100 million in liabilities.
On March 29, 2021, AeroCentury Corp., a Calif.-based publicly traded aircraft operating lessor and finance company specializing in leasing regional aircraft and engines to regional airlines and commercial users in 15 countries, announced it and certain of its subsidiaries filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10636).
In what can only be described as a bitter pill to swallow for the professionals involved, the Ontario Superior Court of Justice (Commercial List) (the “Court”) in Duca Financial Services Credit Union Ltd. v.
On July 2, 2020, the Court of Appeal for Ontario (the “Court”) released its decision in Hutchingame Growth Capital Corporation v.
On July 2, 2020, the Court of Appeal for Ontario (the “Court”) released its decision in Hutchingame Growth Capital Corporation v.
On March 26, 2020, leave to appeal the decision of the Alberta Court of Appeal (the “Alberta CA”) in Canada v. Canada North Group Inc.1 (“Canada North Group”) was granted by the Supreme Court of Canada (the “SCC”).2 No reasons were given.
The global COVID-19 pandemic has resulted in widespread closures and suspension of operations, including within the justice system in Ontario. Ontario courts have issued a number of notices detailing the changes to regular court operations. In an effort to simplify the complicated situation already facing insolvency practitioners and their clients, we have summarized the current status of court operations germane to bankruptcy and insolvency matters.
Superior Court of Justice
On March 6, 2020, the Ontario Court of Appeal (the “OCA”) released its decision in Royal Bank of Canada v. Bodanis (“Bodanis”),1 holding that two debtors, each having an estate exceeding $10,000 in value, had appeals of their bankruptcy orders as of right under section 193 of the Bankruptcy and Insolvency Act2(the “BIA”) and thus did not need to seek leave to appeal.
Section 193 reads as follows:
On December 30, 2019, the Supreme Court of Newfoundland and Labrador (the “NLSC”) released its decision in Re Norcon Marine Services Ltd.1 (“Norcon Marine”), dismissing both an application by a debtor for continuance of its Bankruptcy and Insolvency Act2 (“BIA”) proposal proceedings under the Companies’ Creditors Arrangement Act3 (“CCAA”) and a competing application by a secured creditor for the appointment of a receiver.