This is the third instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. This article discusses insolvencies from the perspective of corporate parents of distressed Canadian retailers.

La Cour du Banc de la Reine de l’Alberta (la « Cour ») a clarifié la façon dont seront traitées les demandes en cas d’abus dans le cadre de procédures en vertu de la Loi sur les arrangements avec les créanciers des compagnies (la « LACC »). Dans sa décision récente concernant l’affaire Lightstream Resources Ltd.

The Alberta Court of Queen’s Bench (Court) has provided clarity on how oppression claims will be adjudicated in the context of the Companies’ Creditors Arrangement Act (CCAA). In the recent decision in Lightstream Resources Ltd. (Re), the Court confirmed that it has jurisdiction to hear oppression claims, but held that the exercise of this discretion is limited to appropriate circumstances.

The Ontario Court of Appeal (OCA) has closed the door on the application of equitable subordination in Companies’ Creditors Arrangement Act (CCAA) proceedings. In U.S. Steel Canada Inc.