The 2014 collapse of the Corporate Commercial Bank (ranked 4th in the country) raised doubts about the accuracy of the overall liquidity ratio (34.80%) and asset value (approx. EUR 44.07 billion) of the banking sector in Bulgaria, not least because assets had been evaluated according to the internal rules of the respective credit institutions.
As the COVID scourge continues its march across the lives and livelihoods of Canadian individuals and businesses, the federal government has broken the glass and deployed into the economy a historically unprecedented amount of emergency funding in an effort to provide a financial bridge through the crisis to affected enterprises.
The means of obtaining information on a person’s creditworthiness were broadened in 2011 by launching a pending execution proceedings register kept by the Bulgarian Private Bailiffs Chamber.
Original Newsletter(s) this article was published in: Commercial Litigation Update: April 2020
The COVID-19 pandemic is, first and foremost, a human and health crisis. Social and physical distancing has been the almost universal response to this pandemic. The effect of social distancing on the economy, however, is significant.
Good afternoon.
Please find below our summaries of this past week’s civil decisions of the Court of Appeal for Ontario. Topics covered included insurance broker negligence, zoning (use) bylaw enforcement, the wrongful termination of a commercial lease and the automatic right of appeal of bankruptcy orders.
On August 27, 2019, Quebec's Court of Appeal overturned the Quebec Superior Court's decision to give post-filing claims priorities over secured creditors' claims, stating that section 11.01 of the CCAA does not give automatic priority to post-filing creditors.
Background
On November 1, 2019, several amendments to the Bankruptcy and Insolvency Act (the BIA) and the Companies Creditors’ Arrangement Act (the CCAA) will take effect. Previously, our colleagues reported on the amendments codifying and clarifying IP rights during an insolvency proceeding and granting broader protection to IP licence-holders introduced in Bill C-86.
In most restructuring proceedings, money is needed to fund the professionals and the management team retained to preserve value in the insolvent company. This money must often be borrowed, and is typically secured by "super-priority" charges granted by the Court. An issue that has recently been before the Alberta courts is whether these charges also rank ahead of other claims that also have priority according to federal legislation.
When a plaintiff obtains a judgment from the court, that party is normally precluded from starting another lawsuit seeking the same judgment debt from the defendant.
Good evening.
Below are summaries of the civil decisions released by the Court of Appeal for Ontario this week.