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Hong Kong court departs from English law in its approach to arbitration clauses in insolvency cases

Key takeaways

Hong Kong, United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Reed Smith LLP
Fearing Industry Solvency, Insurers Are Seeking to Leverage “Physical Loss or Damage” Rulings in the COVID-19 Context to Roll Back Historic Coverage Generally

When the COVID-19 Pandemic incepted, and issues arose as to whether affected policyholders could seek Business Income and Civil Authority coverage from the presence or suspected presence of SARS-CoV-2 and consequent orders of Civil Authority, I thought that the easiest question to answer was whether such policyholders had suffered physical loss or damage (“PLOD”) to their property.

The Majority PLOD Rule Prior to COVID-19

USA, Ohio, Insolvency & Restructuring, Insurance, Litigation, Reed Smith LLP, Coronavirus
Court of Appeal of Alberta to Reconsider Whether Gross Overriding Royalties Run With The Land

A recent chambers decision holding that gross overriding royalties (“GOR”) can be vested off in a reverse vesting order (“RVO”) is on its way up to the Court of Appeal of Alberta (the “ABCA”). The ABCA has granted leave to appeal Invico Diversified Income Limited Partnership v NewGrange Energy Inc, 2024 ABKB 214 (“Invico”).

The Chambers Decision

Canada, Insolvency & Restructuring, Litigation, McMillan LLP, Court of Appeal of Alberta
Corporate Restructuring Meets Intellectual Property: Quebec Superior Court Overturns Disclaimer Notice and Issues the First Canadian Interpretation of Usage Rights under the CCAA

In the Endoceutics case[1], the Superior Court recently clarified the application of section 32 of the Companies’ Creditors Arrangement Act

Canada, Quebec, Insolvency & Restructuring, Litigation, McMillan LLP
Lenders Exhale: Qualex overturned on appeal, confirming the application of Redwater

Just over a year ago, the Alberta Court of King’s Bench (“ACKB”) decision in Qualex-Landmark Towers v 12-10 Capital Corp (“Qualex”)[1] extended the application of an environmental regulator’s priority entitlements in bankruptcy and insolvency to civ

Canada, Alberta, Company & Commercial, Insolvency & Restructuring, Litigation, McMillan LLP, Mediation, Due diligence, Supreme Court of Canada, Court of Appeal of Alberta
Fifth Circuit Reminds Creditors They Must Actively Protect Their Interests in Bankruptcy

In its recent opinion in Raymond James & Associates Inc. v. Jalbert (In re German Pellets Louisiana LLC), 23-30040, 2024 WL 339101 (5th Cir. Jan. 30, 2024), the Fifth Circuit held that a confirmed bankruptcy plan enjoined a party from asserting certain indemnification counterclaims against a plan trustee because the party did not file a proof of claim.

Background

USA, Insolvency & Restructuring, Litigation, Bradley Arant Boult Cummings LLP
Court Rules That Financed Residential Solar System Is a Consumer Good, Not a Fixture

Whether a solar system is a “fixture” sounds like a mundane legal issue – but it has significant implications for the residential solar industry and for the financing of residential solar systems. If a system is regarded as a “fixture” of the house to which it is attached, then the enforceability and priority of the finance company’s lien on the system will be subject to applicable real estate law.

USA, Banking, Insolvency & Restructuring, Litigation, Bradley Arant Boult Cummings LLP, Uniform Commercial Code (USA)
Update! Court Ordered Charges can also prime Crown Claims in BIA matters

Recent teachings of the Supreme Court of Canada court in Canada v Canada North Group Inc., 2021 SCC 30 [Canada North] had confirmed that the Companies’ Creditors Arrangement Act (‘CCAA’) courts could grant super-priority charges (e.g. interim financing, administration charge, or directors’ and officers’ charges) ranking in priority to s.

Canada, Insolvency & Restructuring, Litigation, McMillan LLP, Supreme Court of Canada
Check for Bankruptcies with Your Claimant - You Might Find Gold

If your company is named in a new lawsuit or receives a EEOC charge, part of your review process should include checking to see if the filing complainant or plaintiff has a pending bankruptcy action. If so, the next step is to see if the claimant disclosed their lawsuit or administrative complaint in his or her bankruptcy petition. If not, you may have a successful estoppel argument.

USA, Employment & Labor, Insolvency & Restructuring, Litigation, Bradley Arant Boult Cummings LLP, Equal Employment Opportunity Commission (USA)
Secured Lending in Canada: A Guide for U.S. Lenders

Close economic ties and interdependence between the US and Canada have been bolstered by free trade policies and intensified global competition, paving the way for continued opportunities for US businesses to tap into the Canadian market. These opportunities have resulted in an active cross-border lending market. In light of this, US lenders who are lending into Canada may encounter, and should be aware of, Canadian-specific legal issues and considerations.

Canada, USA, Banking, Capital Markets, Company & Commercial, Corporate Finance/M&A, Environment & Climate Change, Insolvency & Restructuring, IT & Data Protection, Real Estate, McMillan LLP, Office of the Superintendent of Financial Institutions (Canada), Uniform Commercial Code (USA)