In a November 20,2013 decision in the Companies Creditors’ Arrangement Act (the “CCAA”) proceedings of Aveos Fleet Performance Inc. and Aero Technical US, Inc.
Canada, Quebec, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, United Steelworkers, Companies' Creditors Arrangement Act 1933 (Canada), Supreme Court of Canada, Quebec Superior Court
On February 1, the Supreme Court of Canada (the “SCC”) released its long-awaited decision in Sun Indalex Finance, LLC v. United Steel Workers. By a five to two majority, the SCC allowed the appeal from the 2011 decision of the Ontario Court of Appeal (the “OCA”) which had created so much uncertainty about the priority of pension claims in Companies’ Creditors Arrangement Act (the “CCAA”) proceedings.
Canada, Ontario, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, United Steelworkers, Companies' Creditors Arrangement Act 1933 (Canada), Personal Property Security Act 1990 (Canada), Supreme Court of Canada, Court of Appeal for Ontario