Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

The Ontario Court of Appeal, in 7636156 Canada Inc. (Re), 2020 ONCA 681 (“7636156”), recently affirmed the autonomy of documentary letters of credit as valid security for the obligations of a tenant under a commercial lease when that lease is disclaimed by the tenant or the tenant’s trustee in bankruptcy.

Filed under:

Canada, Ontario, Insolvency & Restructuring, Litigation, Real Estate, McCarthy Tétrault LLP, Bankruptcy, Court of Appeal for Ontario

Authors:

Alexander Steele

Location:

Canada

Firm:

McCarthy Tétrault LLP

Comments on the Supreme Court of Canada’s landmark insolvency decision in Ted LeRoy Trucking

2011-05-20

The Supreme Court of Canada decision in Century Services Inc. v. Canada (Attorney General), which arose from the restructuring proceedings of Ted LeRoy Trucking Ltd. and was released on December 6, 2010, is a landmark decision in Canadian insolvency law.

Filed under:

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Debtor, Statutory interpretation, Debt, Liquidation, Companies' Creditors Arrangement Act 1933 (Canada), Bankruptcy and Insolvency Act 1985 (Canada), SCOTUS, Supreme Court of Canada, Court of Appeal for Ontario

Authors:

Kevin P. McElcheran , Heather L. Meredith

Location:

Canada

Firm:

McCarthy Tétrault LLP

Set-off and claims that may not be compromised by a CCAA plan of arrangement

2020-08-24

In the matter of the Companies’ Creditors Arrangement Act (“CCAA”) of the S.M. Group, the Québec Court of Appeal rendered a ruling on the effect of the law of set-off on debts arising out of alleged fraud and the application of the same Court’s ruling in Kitco to this type of debts.

Filed under:

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Companies' Creditors Arrangement Act 1933 (Canada)

Authors:

Alain N. Tardif , Gabriel Faure

Location:

Canada

Firm:

McCarthy Tétrault LLP