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Les sociétés en faillite ne peuvent se soustraire à leurs obligations environnementales, tranche le plus haut tribunal

Dans une décision historique rendue dans l’affaire Orphan Well Association c Grant Thornton Ltd. qui a été publiée le 31 janvier 2019, la Cour suprême du Canada (la « CSC ») a conclu que les obligations d’assainissement environnemental d’une société pétrolière et gazière en faillite doivent être satisfaites avant toutes les autres obligations, y compris les obligations garanties. Outre les créanciers du secteur pétrolier et gazier de l’Alberta qui sont directement touchés par la décision, les créanciers de tous les secteurs ont intérêt à bien en analyser les conséquences.

Canada, Energy & Natural Resources, Environment & Climate Change, Insolvency & Restructuring, Litigation, Davies Ward Phillips & Vineberg LLP, Alberta Energy Regulator, Supreme Court of Canada
Callidus Capital Corporation v HMQ: Last Word Goes to the Secured Creditor

The Supreme Court of Canada (the SCC) has overturned the decision rendered by a majority of the Federal Court of Appeal (the FCA) in Callidus Capital Corporation v Her Majesty the Queen.

The case originated out of a motion filed in the Federal Court (the FC) by Callidus Capital Corporation (Callidus) to determine the following question of law:

Canada, Insolvency & Restructuring, Litigation, Davies Ward Phillips & Vineberg LLP, Secured creditor, Canada Revenue Agency, Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada
Liquidating CCAAs and Pension Deemed Trust Priorities

The very clearly written decision of Québec Superior Court Justice Stephen Hamilton in the Bloom Lake and Wabush Mines Companies’ Creditors Arrangement Act (CCAA) proceedings is certain to be the topic of current discussion in the Canadian insolvency and secured lending communities. See the September 11, 2017 decision.

Canada, Quebec, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Davies Ward Phillips & Vineberg LLP, Bankruptcy and Insolvency Act 1985 (Canada)
Ontario Court of Appeal Denies Leave to Appeal Nortel Allocation Decision

On May 3, 2016, the Court of Appeal for Ontario released its decision (Leave Decision) denying leave to appeal from Justice Newbould's allocation of the proceeds of sale of the remains of the Nortel Networks group of companies (Allocation Decision).

The main points arising from the decision are as follows:

Canada, Ontario, Insolvency & Restructuring, Litigation, Davies Ward Phillips & Vineberg LLP, Court of Appeal of England & Wales, Court of Appeal for Ontario, California courts of appeal, Court of Appeal of Singapore