A recent Canadian insolvency filing could provide insight into how U.S. courts will approach Chapter 15 applications from foreign cannabis-related entities.

A Case Comment on AssessNet Inc. v. Ferro Estate, 2023 ONCA 577

Selon la Banque de France, les procédures collectives affectant les moyennes entreprises sont en hausse de 85% sur un an. Cette tendance affecte particulièrement les entreprises de la French Tech pour des start-ups qui n’ayant pas trouvé leur modèle économique, se trouvent confrontées à un mur de dettes.

Duties and Implications of financial Information in s.214 claims

Introduction

This article follows Part 1 in which I set out the key issues we have recently seen and the case law arising in Misfeasance and Wrongful Trading claims. This Part 2 considers the duties and implications surrounding the financial information that is available to directors when faced with a s.214 wrongful trading claim.

This article is a part one of two series that explores the key issues we have recently seen and the case law arising in Misfeasance and Wrongful Trading claims.

Introduction

What is Wrongful Trading?

Introduction

Selon Paul Chollet, économiste de Crédit Mutuel Arkea 2024 sera "une année noire" avec un record de défaillances d’entreprises en France. Cela fait maintenant 3 ans que les économistes prédisent un ras-de-marrée de défaillances. Cela étant, avec près de 49.000 de défaillances en France sur 12 mois glissants, il y a une tendance à un retour aux chiffres de 2019.

Il est donc indispensable de rappeler que des procédures de prévention (mandat ad hoc et la conciliation) sont là pour traiter les difficultés en amont de la défaillance.

The restructuring of Casino Group, one of France's top 6 retailers, is at the point of reaching a favourable outcome. An agreement is expected at the end of July 2023. The commonalities between the restructuring of Casino and Orpéa are the preservation of secured debt, the conversion of unsecured debt into capital, asset disposals and, of course, a significant injection of new money.

There may be hope on the horizon for insolvent Canadian cannabis companies who wish to seek recognition proceedings south of the border.

The enforcement of court orders that are designed to preserve, trace or track crypto-assets within North America is often limited in practice. As seen in the recent Ontario decision of Cicada 137 LLC v. Medjedovic (“Cicada”),^[1] mechanisms by which legal enforcement principles can be effectively applied against stolen or misappropriated crypto-assets are constrained.