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    The Canadian Nortel fraud prosecution results in acquittals
    2013-01-31

    R. v. Dunn, Beatty and Gollogly 2013 ONSC 137

    Introduction

    Filed under:
    Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Fraud, Liability (financial accounting), Toronto Stock Exchange
    Authors:
    Dorothy Charach , David M. Porter
    Location:
    Canada
    Firm:
    McCarthy Tétrault LLP
    BCCA sets guidelines for bankruptcy appeals
    2012-11-27

    The British Columbia Court of Appeal has sent a clear message that it is necessary to file as well as serve a notice of appeal in bankruptcy matters within the prescribed 30-day time limit. The recent decision of Friedland (Re), 2012 BCCA 381, establishes a crucial practice point for insolvency practitioners.

    Filed under:
    Canada, British Columbia, Insolvency & Restructuring, Litigation, Bull Housser & Tupper LLP, Bankruptcy, Secured creditor, Unsecured creditor
    Location:
    Canada
    Firm:
    Bull Housser & Tupper LLP
    SCC resolves interaction between garnishment and bankruptcy provisions
    2012-10-24

    introduction

    Filed under:
    Canada, Insolvency & Restructuring, Litigation, McMillan LLP, Bankruptcy, Debtor, Supreme Court of Canada
    Authors:
    Jamie M. Wilks
    Location:
    Canada
    Firm:
    McMillan LLP
    The (not so limiting) Ontario Limitations Act, 2002 and bankruptcy proceedings
    2012-11-01

    On January 27, 2012, Justice Newbould of the Ontario Superior Court of Justice (Commercial List) (the “Court”) released his decision in Temple (Re),1 holding that the Ontario Limitations Act, 20022 (the “Act”) does not apply to a bankruptcy application and does not operate to extinguish a debt owing to a creditor.

    The Ontario Limitations Act, 2002

    Filed under:
    Canada, Ontario, Insolvency & Restructuring, Litigation, Aird & Berlis LLP | Aird & McBurney LP, Bankruptcy, Debtor, Statute of limitations, Debt
    Location:
    Canada
    Firm:
    Aird & Berlis LLP | Aird & McBurney LP
    All is not lost if a limitations period missed
    2012-11-26

    The Take-Away

    Missing the limitations period for bringing a court action to recover a debt does not extinguish other legal rights and remedies in respect of that debt, such as bringing an application for bankruptcy or proving a claim in a bankruptcy estate.

    The Case

    Filed under:
    Canada, Ontario, Insolvency & Restructuring, Litigation, Cassels Brock & Blackwell LLP, Bankruptcy, Debt
    Authors:
    Eleonore Morris
    Location:
    Canada
    Firm:
    Cassels Brock & Blackwell LLP
    Mergers & acquisitions in a more uncertain world: using the Companies’ Creditors Arrangement Act
    2012-07-25

    You are probably aware of the useful restructuring and creditor protection process available to insolvent entities in the United States under Chapter 11 of the United States Bankruptcy Code. In Canada, more than one insolvency regime is available in respect of debtor companies in financial difficulty and those interested in acquiring such companies or their assets. However, because of its flexibility, the most commonly used Canadian regime for larger debtor companies or complicated restructurings is the Companies’ Creditors Arrangement Act (Canada) (the "CCAA").

    Filed under:
    Canada, Corporate Finance/M&A, Insolvency & Restructuring, McCarthy Tétrault LLP, Bankruptcy, Debtor, Title 11 of the US Code
    Authors:
    Sean F. Collins , James D. Gage , Warren B. Milman , Roger R. Taplin
    Location:
    Canada
    Firm:
    McCarthy Tétrault LLP
    Third party benefit providers get super priority secured claim for unpaid remittances owed by employer
    2012-06-18

    Synopsis

    In the latest decision of the British Columbia Supreme Court (the “Court”) regarding the bankruptcy of Ted LeRoy Trucking Ltd. (“TLT”), the Court found that unpaid remittances owed by TLT to third party benefit providers constituted “wages” within the meaning of the Bankruptcy and Insolvency Act (“BIA). This entitled the benefit providers to super priority secured status in the bankruptcy of TLT.

    The Facts

    Filed under:
    Canada, British Columbia, Insolvency & Restructuring, Litigation, Osler Hoskin & Harcourt LLP, Wage, Bankruptcy, Secured creditor, British Columbia Supreme Court
    Authors:
    Steven Golick , Patrick Riesterer
    Location:
    Canada
    Firm:
    Osler Hoskin & Harcourt LLP
    Security on commercial licences: developments since the Saulnier case
    2012-06-27

    In 2008, the Supreme Court of Canada ruled in Saulnier5 that a commercial fishing licence constitutes ‘property’ within the context of the Bankruptcy and Insolvency Act (“BIA”) and the Nova Scotia PPSA6, thereby allowing the trustee in bankruptcy to seize the licence from the bankrupt.

    Filed under:
    Canada, Insolvency & Restructuring, Litigation, Gowling WLG, Bankruptcy, Trustee, Supreme Court of Canada
    Authors:
    Ava Kim
    Location:
    Canada
    Firm:
    Gowling WLG
    Employees’ claims in Canadian bankruptcy and receivership proceedings
    2012-06-28

    In turbulent and uncertain financial times, employers and employees more often than ever find themselves immersed in and affected by insolvency proceedings. Particularly for employees, there is often misunderstanding and misinformation respecting the nature of the proceedings and employees’ rights thereunder. In this article, after a brief description of the most common forms of insolvency proceedings in Canada, the rights and entitlements of employees under these proceedings will be discussed.

    Bankruptcy

    Filed under:
    Canada, Employment & Labor, Insolvency & Restructuring, Norton Rose Fulbright, Wage, Bankruptcy, Debtor, Bankruptcy and Insolvency Act 1985 (Canada), British Columbia Supreme Court
    Authors:
    Kyle D. Kashuba
    Location:
    Canada
    Firm:
    Norton Rose Fulbright
    Do you really have an enforceable license?
    2012-06-12

    During a bankruptcy or a restructuring, the goal of bankruptcy law is at odds with the goal of intellectual property law. Recent developments in bankruptcy law have sought to provide more certainty to licensees. However, there is still a lot of uncertainty.

    Filed under:
    Canada, Insolvency & Restructuring, Intellectual Property, Bereskin & Parr LLP, Bankruptcy, Debtor, Bankruptcy and Insolvency Act 1985 (Canada)
    Authors:
    Philip C. Mendes da Costa
    Location:
    Canada
    Firm:
    Bereskin & Parr LLP

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