In Newfoundland and Labrador v. AbitibiBowater Inc., 2012 SCC 67, the Supreme Court of Canada was called upon to consider whether orders issued by a regulatory body with respect to environmental remediation work are “provable claims” in a proceeding commenced under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c.C-36 (the “CCAA”).

Azevedo and another v Imcopa Importacao, Exportaacao E Industria De Oleos Ltda and others [2012] EWHC 1849 (Comm)

Summary

The recent TCC decision in Brit Inns Ltd (in liquidation) v. BDW Trading Ltd (Costs) [2012] EWHC 2489 (TCC) is a useful summary of the costs principles that will be applied where Claimants pursue inflated claims – either deliberately or through lack of sufficient care. The relevant principles will be:

Government’s plan to boost UK house building

Recently the Prime Minister announced a new housing and planning package that is intended to stimulate:

During the current economic slowdown businesses in many industries, including some in the industrial engineering sector, are struggling to make payments to suppliers; some have even gone into bankruptcy. However, under Polish law it is possible for a creditor to achieve some protection even if specific provisions are absent from the contract.

On 27 July 2012, Justice Morawetz of the Ontario Superior Court of Justice (Commercial List) released reasons for decision in the Sino-Forest CCAA case concerning the scope and effect of the 2009 amendments to the CCAA that subordinate “equity claims” to all other claims and provide that under a CCAA plan, no payment can be made in respect of equity claims until all other claims are paid in full.

Financial support directions and insolvency: the Regulator's statement

Natural England makes geographic information datasets available under the Open Government licence  

This means that datasets about areas of significance for the natural environment such as protected site boundaries, are now made available under a perpetual licence for commercial and non-commercial use. See link to natural England website for further information.

Squatting criminalised

On April 6, 2011, the Ontario Superior Court of Justice released its decision in the priority disputes between the lessors and aviation authorities resulting from the Skyservice receivership. The Court, in interpreting and applying the decisions in Canada 3000 and Zoom, raised the bar for lessors to defeat the seizure and detention rights of the aviation authorities in Canada.

FOS upholds two Keydata complaints against IFAs but concludes that compensation should only be paid in one

The Financial Ombudsman Service ("FOS") has provisionally upheld two complaints made by Mr W and Mr and Mrs K against IFAs who recommended that they invest in the Keydata Bonds in 2005. FOS found that the products presented a greater risk than the investors were willing to take. Interestingly, however, compensation has only been offered to Mr and Mrs K.