A recent decision of the Court of Session has found that a Scottish administration can be declared as ancillary to an insolvency process in another jurisdiction. This means that the insolvency proceedings in one jurisdiction are considered as the main insolvency proceedings, while the ancillary proceedings in the other jurisdiction are restricted to dealing with the company's assets located there.

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The High Court in England recently issued a stark warning to directors who fail to consider their duties to the company and its creditors when entering financial difficulties.

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On September 4, 2013, the Court of Appeal for Ontario released its decision in the sentence appeal in R. v. Metron Construction Corporation¹ (“Metron”). Government prosecutors had appealed against the C$200,000 fine Metron received on July 13, 2012, after the company pleaded guilty to a charge of criminal negligence causing death.

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Supreme Court decision
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Supreme Court decision
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The Supreme Court of Canada (“SCC”) recently released its much-anticipated decision in the Indalex Limited (“Indalex”) proceedings under the Companies’ Creditors Arrangement Act (the “CCAA Proceedings”). The decision is important for secured lenders in the context of an insolvency proceeding (“DIP Lenders”) or outside of an insolvency proceeding (“secured lenders”).

On Friday, the Supreme Court of Canada handed down its decision in the landmark pension/insolvency case, Sun Indalex, LLC v. United Steelworkers. 

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Ontario Superior Court of Justice decision