The Supreme Court of New South Wales has clarified the circumstances in which a liquidator may recover deposit funds paid to a third party and the extent to which a counterparty may rely on the good-faith defence under section 588FG of the Corporations Act 2001 (Cth).
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
This past year has featured a diverse range of consequential, precedent-setting insolvency disputes across various industries, reflecting both the breadth of challenges facing Canadian businesses and the adaptability of Canada’s insolvency framework in resolving these issues. The most consequential decisions in which we have been involved are described below, alongside key takeaways for stakeholders participating in insolvency proceedings in 2026 and beyond.
The collapse of The Lion Electric Company and its affiliates (Lion Electric) has attracted considerable attention as a sign of potential trouble in Québec’s manufacturing and electric vehicle sectors1.
Under the Act to amend theMining Act and other provisions1 (the “Act”), assented to on November 29, 2024, certain amendments were made to the Mining Act.2
In this bulletin, we will focus on the rules that have been in effect as of the Act’s date of assent concerning the assignment of a mining lease or a mining concession, and those that have been in effect since November 29, 2025, concerning the transfer of an exclusive exploration right (“EER”), formerly known as a claim.
The Alberta Court of King’s Bench (the Court) has delivered an important decision in the insolvency proceedings of Wolverine Energy and Infrastructure Inc. (WEI), voiding insider payments and imposing personal liability on a former executive. The ruling highlights the significant risks associated with insider transactions during financial distress and clarifies how courts apply statutory remedies under the Bankruptcy and Insolvency Act (BIA), the Fraudulent Preferences Act (FPA), and the Statute of Elizabeth (SOE).