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No Stay for Security: Alberta Court Affirms Regulator's Public Duty in AlphaBow

In the recent decision of AlphaBow Energy Ltd. (Re) (“AlphaBow”),[1] the Alberta Court of King’s Bench dismissed AlphaBow’s application to stay the Alberta Energy Regulator’s (“AER”) request for a security deposit for the duration of its restructuring proceedings.

Background

Canada, Alberta, Insolvency & Restructuring, Litigation, Fasken, Mediation, Supreme Court of Canada
Western Texas Judge: Land Covenants Not Immune from Rejection

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.

USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, United States bankruptcy court, US District Court for Southern District of Texas
Supreme Court Ends Third-Party Releases in Bankruptcy

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

USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Chapter 11, US Bankruptcy Code, Supreme Court of the United States, Pharmaceuticals, Pharmaceuticals & chemicals
No Laughing Matter: Court Delivers Punchline on Wage Protection in the Just For Laughs Case

Insolvency & Restructuring Bulletin

A recent court decision has provided clarity on the application of the Wage Earner Protection Program Act (“WEPPA”) to former employees of companies undergoing restructuring under the Companies’ Creditors Arrangement Act (“CCAA”). The central issue was whether WEPPA applies to employees who were terminated as a result of a reverse vesting order (“RVO”).

Background

Canada, Employment & Labor, Insolvency & Restructuring, Litigation, Fasken, Companies' Creditors Arrangement Act 1933 (Canada), Bankruptcy and Insolvency Act 1985 (Canada), Wage Earner Protection Program Act 2005 (Canada)
All the Single Debtors: Court Refuses to Expand Exceptions to the Single Debtor Rule Under Doctrine of Marshalling

Insolvency and Restructuring Bulletin

Canada, Alberta, Insolvency & Restructuring, Litigation, Fasken, Debtor, Court of Appeal of Alberta
Retail Therapy Denied: Court Dismisses Motion to Assign Hudson’s Bay Leases
Canada, Insolvency & Restructuring, Litigation, Fasken, Ontario Superior Court of Justice