Judge Parker of the U.S. Bankruptcy Court for the Western District of Texas recently issued an order in the case of Hilltop SPV, LLC, granting debtor Hilltop SPV LLC’s (“Hilltop”) motion to reject a Gas Gathering Agreement (“GGA”) with counter-party Monarch Midstream, LLC (“Monarch”).[1] This decision allows Hilltop to reject the GGA while allowing Monarch to retain the covenants that run with the land post-rejection.

Harrington v. Purdue Pharma L.P., 144 S. Ct. 2017 (June 27, 2024)

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

The rules governing corporate and personal insolvency in Singapore are set out in the Insolvency, Restructuring and Dissolution Act 2018 (IRDA), which includes mechanisms to reverse transactions that unfairly deplete a company's assets prior to insolvency, thereby protecting creditors' interests by allowing the value of the company’s assets to be maximised for distribution to its creditors on insolvency.

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

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

In 2018, Singapore enacted the Insolvency, Restructuring and Dissolution Act (IRDA 2018), which streamlined its debt restructuring regime by consolidating provisions previously set out in various statutes into a piece of omnibus legislation.

Among other developments, the IRDA 2018 built upon existing provisions relating to pre-packed schemes of arrangement (i.e. pre-packed schemes) and enhanced pre-packed schemes as a viable tool in Singapore’s arsenal of debt restructuring mechanisms.

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.

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.

A recent Alberta case continues the development of a line of cases at the intersection of environmental protection and bankruptcy and insolvency law in Canada.