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It’s Not Easy Without Green: Party Prevented From Continuing to Interfere in Bankruptcy Proceedings Due to Unpaid Costs Awards

In Re Proex Logistics, 2025 ONSC 51, Justice Steele of the Ontario Superior Court of Justice (Commercial List) recently made a number of holdings related to the process for trustees accepting claims in a bankruptcy and other parties seeking to challenge those decisions. The Court held that:

Canada, Ontario, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Ontario Superior Court of Justice, British Columbia Supreme Court
European Restructuring: 2024 in review and outlook for 2025

Market overview

European Union, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Corporate governance, Carillion
The Twilight, or Rebirth, of Liability Management? Serta and Mitel Decisions Reach Opposite Conclusions on the Permissibility of Uptier Exchange Transactions

Introduction & Key Takeaways

The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have played a large role in corporate debt restructurings for the past several years.

USA, Banking, Company & Commercial, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Corporate minds do not all think alike: The Supreme Court affirms a purposive approach to the corporate attribution doctrine

Two recent Supreme Court of Canada decisions demonstrate that the corporate attribution doctrine is not a one-size-fits-all approach.

Canada, Company & Commercial, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Supreme Court of Canada
Jevic Keeps on Gifting: Third Circuit Reaffirms Solvent Debtor Exception by Holding Unsecured Creditors of Solvent Debtor Entitled to Post-Petition Interest at the Contract Rate

On September 10, 2024, the U.S.

USA, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
What debts should survive bankruptcy? The Supreme Court distinguishes between orders made by the B.C. Securities Commission

In a recent decision of the Supreme Court of Canada in Poonian v. British Columbia (Securities Commission), the Court determined that while disgorgement orders made by the British Columbia Securities Commission (the “Commission”) survive bankruptcy under the Bankruptcy and Insolvency Act (the “BIA”), administrative penalties may not.

Canada, British Columbia, Capital Markets, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, British Columbia Securities Commission, Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada, British Columbia Supreme Court