Au début de 2015, les sociétés 9171665 Canada Ltd. et Connacher Oil and Gas Limited (collectivement, « Connacher ») ont présenté à la Cour du Banc de la Reine de l’Alberta (la « Cour ») une demande d’ordonnance finale en vertu de l’article 192 de la Loi canadienne sur les sociétés par actions (la « LCSA ») en vue de l’approbation d’un plan d’arrangement visant la restructuration de Connacher (l’« Arrangement »). Le 2 avril 2015, le juge C.M.
In early 2015, 9171665 Canada Ltd. and Connacher Oil and Gas Ltd. (together Connacher) applied to the Alberta Court of Queen's Bench (Court) for a final order pursuant to section 192 of the Canada Business Corporations Act (CBCA) for the approval of a plan of arrangement to restructure Connacher (Arrangement). On April 2, 2015, Justice C.M. Jones rejected Connacher's restructuring proposal for the reasons set out below.
TORONTO (May 15, 2015) - On May 12, 2015, the Ontario Superior Court of Justice and U.S. Bankruptcy Court delivered an unprecedented joint ruling in the multi-jurisdictional dispute over the allocation of US$7.3-billion raised from the sale of the Nortel Networks global business units and patent portfolio.
At dispute was how to divide Nortel’s estate between bondholders, pensioners, suppliers and former employees of the parent company in Canada and its U.S. and European subsidiaries.
When a buyer’s characteristics can determine whether they are misled about the features of a property
Orchid Avenue Pty Ltd v Hingston & Anor [2015] QSC 42 per McMurdo J
This case highlights the importance of buyers making their own enquiries when purchasing properties for reasons that relate to features external to the property, such as ocean views.
Personal liability of members of management committees of incorporated associations for debts incurred by the association if it traded while insolvent has been an uncertain area of law in Queensland. Directors of companies that trade while insolvent have potentially been personally liable for debts incurred by the company, but there has always been a question mark over whether members of management committees of incorporated associations face the same personal liability.
Applicants who seek ex parte relief under the Companies’ Creditors Arrangement Act (CCAA) have an obligation to make full and fair disclosure of all material facts to the court.
On 7 November 2014, the Government released the draft Insolvency Law Reform Bill 2014, with key changes proposed to be put in place by 30 June 2015.
On August 19, 2014, the Ontario Superior Court of Justice [Commercial List] (Ontario Court) released an important decision regarding the ability of unsecured bondholders to assert a claim for “post-filing” interest in proceedings under the Companies’ Creditors Arrangement Act (Canada) (CCAA). The CCAA is Canada’s principal statute for the restructuring of large insolvent corporations and is similar in effect to Chapter 11 of theUnited States Bankruptcy Code (Bankruptcy Code).
On 4 September 2014, the Government introduced the Fair Entitlements Guarantee Amendment Bill 2014 to the House of Representatives (Bill). The Bill is intended to amend the Fair Entitlements Guarantee Act 2012 (Cth) so as to limit the entitlements payable by the Government to those employees made redundant due to the liquidation or bankruptcy of their employer.
This is an update to our September 2013 Blakes Bulletin: Increases to Alberta Licensee Liability Rating Program.