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You have a trust? Well, Iona secured interest: a summary of Iona Contractors Ltd. (Receiver of) v. Guarantee Co. of North America, 2014 ABQB 347
2014-08-05

This article has been contributed to the blog by Caitlin Fell and Sean Stidwill. Caitlin Fell is an associate in the insolvency and restructuring group of Osler, Hoskin & Harcourt LLP and Sean Stidwill is a summer student at Osler, Hoskin & Harcourt LLP.

Filed under:
Canada, Alberta, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy and Insolvency Act 1985 (Canada)
Location:
Canada
Firm:
Weil Gotshal & Manges LLP
View Original Article
Third time's a charm for Alberta regulator: How the SCC decision in Redwater could change the role of environmental orders in Ontario insolvency proceedings
2019-03-05

1. Introduction

Filed under:
Canada, Alberta, Environment & Climate Change, Insolvency & Restructuring, Litigation, Gowling WLG, Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada, Court of Appeal of Alberta
Authors:
Haddon Murray
Location:
Canada
Firm:
Gowling WLG
View Original Article
Vexatious PPSA registrations in Alberta
2017-06-26

As a result of their “open” nature, the various Personal Property Registry systems in Canada are occasionally the subject of abuse. For example, in the midst of a litigation proceeding, it may be inappropriately suggested that to prevent an adversary from transferring or dealing with their assets, a financing statement should be registered in order to annoy the other party or to scare off any potential transferees.

Filed under:
Canada, Alberta, Banking, Insolvency & Restructuring, Gowling WLG, Personal property
Location:
Canada
Firm:
Gowling WLG
View Original Article
Gowling WLG helps secure win for Receiver and Trustee in Redwater proceedings
2016-05-20

In a pivotal decision released May 19, an Alberta court ruled in favour of Grant Thornton Limited, the Receiver and Trustee in the Redwater Energy Corporation (Redwater) receivership and bankruptcy proceedings, upholding its right to disclaim Redwater’s non-producing oil wells and sell its producing ones. Gowling WLG served as co-counsel to Grant Thornton throughout the proceedings.

Filed under:
Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Gowling WLG, Alberta Energy Regulator, Trustee
Authors:
Tom Cumming
Location:
Canada
Firm:
Gowling WLG
View Original Article
Emerging entity’s solvency is condition precedent to the use of a CBCA plan of arrangement restructuring secured debt
2016-03-30

A recent Alberta case1 has addressed the proposed use of a plan of arrangement under theCanada Business Corporations Act (“CBCA”) where proceedings under insolvency statutes may be more appropriate.  In Connacher Oil, Connacher Oil and Gas Limited (“Connacher”) and 9171665 Canada Ltd.

Filed under:
Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Gowling WLG, Condition precedent, Canada Business Corporations Act 1985
Location:
Canada
Firm:
Gowling WLG
View Original Article
Alberta Court clarifies threshold for CCAA filing
2013-12-19

A recent decision of the Alberta Court of Queen’s Bench in Tallgrass10 clarifies the threshold that a company must meet when it seeks relief pursuant to the CCAA11, particularly when such an application is met with a competing application by a se

Filed under:
Canada, Alberta, Banking, Insolvency & Restructuring, Litigation, Gowling WLG, Debtor, Bridge loan
Location:
Canada
Firm:
Gowling WLG
View Original Article
Is it time to stop all this intermingling?
2009-09-17

The Alberta Court of Appeal recently ruled on a case1 dealing with the priority of claims to the bank accounts of a petroleum operator which had gone into receivership, where the operatorship was governed by the 1990 CAPL Operating Procedure. The operator had failed to pay to the non-operators revenues of approximately $300,000, having only $58,000 left in the commingled account. The Operating Procedure imposes a trust on the production revenues but also expressly allows intermingling of these funds with the operator's general funds.

Filed under:
Canada, Alberta, Banking, Insolvency & Restructuring, Litigation, Gowling WLG, Breach of contract, Fiduciary, Legal burden of proof, Dissenting opinion, Secured creditor, Constructive trust, Court of Appeal of England & Wales, Court of Appeal of Alberta
Location:
Canada
Firm:
Gowling WLG
View Original Article
Alberta Court of Queen’s Bench reaffirms validity of “priority flip” upon bankruptcy‎
2022-05-30

In MNP Ltd. v. Canada Revenue Agency (MNP v CRA), the Alberta Court of Queen’s Bench (“ABQB”) clarified the effect of bankruptcy on a writ of enforcement’s “binding interest” acquired on registration against a debtor’s land, ultimately holding that whatever priority a writ’s binding interest has before bankruptcy, it is undercut by the debtor’s bankruptcy. In so doing, the ABQB reaffirmed the validity of a “priority flip” between secured creditors and unsecured judgment creditors upon a debtor’s bankruptcy.

Background

Filed under:
Canada, Alberta, Insolvency & Restructuring, Litigation, DLA Piper
Location:
Canada
Firm:
DLA Piper
View Original Article
Alberta court allows Securities Commission penalty to survive bankruptcy
2020-02-24

On January 17, 2020, Justice Romaine of the Alberta Court of Queen’s Bench found that the Alberta Securities Commission’s (the “ASC”) administrative penalties against Theodor Hennig (“Hennig”) survived Hennig’s discharge in bankruptcy. This decision marks the first time a Canadian court has considered securities regulatory penalties within the context of subsection 178(1) of the Bankruptcy and Insolvency Act (the “BIA”).

Filed under:
Canada, Alberta, Capital Markets, Insolvency & Restructuring, Litigation, DLA Piper
Location:
Canada
Firm:
DLA Piper
View Original Article
Doing business in Alberta 2013
2013-11-30

DOING BUSINESS IN ALBERTA
November 2013
© Davis LLP 2013 i
TABLE OF CONTENTS
A. INTRODUCTION .............................................................................................................................. 1
B. GOVERNMENT AND LEGAL SYSTEM ......................................................................................... 1
C. TYPES OF BUSINESS ORGANIZATION ....................................................................................... 2

Filed under:
Canada, Alberta, Company & Commercial, Competition & Antitrust, Corporate Finance/M&A, Employment & Labor, Energy & Natural Resources, Environment & Climate Change, Franchising, Immigration, Insolvency & Restructuring, Tax, DLA Piper
Location:
Canada
Firm:
DLA Piper
View Original Article

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