In Re ScoZinc Ltd., 2009 NSSC 136 the monitor appointed under the Companies’ Creditors Arrangement Act (“CCAA”) brought a motion for directions on whether it had the authority to allow the revision of a claim after the claim’s bar date, but before the date set for the monitor to complete its assessment of claims.

The U.S. doctrine of equitable subordination (as now set out in the U.S. Bankruptcy Code) allows a U.S. court to subordinate all or part of a creditor's claim to the claims of other creditors if the creditor has engaged in inequitable conduct that gives the creditor an unfair advantage or is injurious to the other creditors. Will the Canadian courts apply the doctrine?

Pursuant to an Order in Council dated July 4, 2008, July 7, 2008 was established as the date that certain of the provisions of S.C. 2005, c. 47 (the "Insolvency Reform Act 2005") and S.C. 2007, c. 36 (the "Insolvency Reform Act 2007") came into force. The Wage Earner Protection Program Act (the "WEPPA") as well as certain of the amendments to the Bankruptcy and Insolvency Act (the "BIA") made by the Insolvency Reform Act 2005 and the Insolvency Reform Act 2007 are, as a result, now in force.

An Ontario Court has provided guidance on determining a person's centre of main interests (COMI) for the purposes of the UNCITRAL Model Law on Cross-Border Insolvency (as implemented in New Zealand, in the Insolvency (Cross Border) Act 2006, and in Canada).

Under the Model Law, a "foreign main proceeding" is defined as a proceeding in the jurisdiction where the debtor has its COMI, with a presumption that a debtor company's COMI is where its registered office is.

Whether—and in what circumstances—a debtor should pay creditors a make-whole premium continues to be litigated in bankruptcy courts. Last week, as reported by Bloomberg, Judge Dorsey (Delaware) ruled that the debtor – Mallinckrodt Plc – did not need to pay a make whole premium to first lien lenders in order to reinstate such obligations under the debtor’s chapter 11 plan.

On July 31, 2014, the Honourable Mr. Justice Penny of the Ontario Superior Court of Justice ruled in favour of the plaintiff in Indcondo Building Corporation v. Sloan (S.C.J.).

Enhancing lender priority over pension deficiencies in Canada in the post Indalex era - more guidance from the courts
Three recent cases address open issues from the 2013 Indalex decision and point the way to strategies to limit financier exposure to pension deficiency priority

When a Ponzi scheme collapses, as with musical chairs, there will be some investors with a place to sit, while others are bereft of such comfort.

Insolvency - 2013/14 Annual Case Update February 7, 2014 By Frank Spizzirri, Shaheen Karolia and Jonathan Tam (Student at Law) Baker & McKenzie LLP (Toronto) 2 Case Index Case Name Page # 1. The Indalex Update (Aveos/Grant Forest/Timminco) a) Aveos Fleet Performance Inc., 2013 QCCS 5762 b) Grant Forest Products Inc. v. GE Canada Leasing Services Co., 2013 ONSC 5933 c) Timminco ltée (Arrangement relatif à), 2014 QCCS 174 4 2. Re Northstar Inc. (Director Liabilities in connection with Environmental Costs) 9 3. Re Moore, 2013 ONCA 769 11 4. Re Dilollo, 2013 ONCA 550 13 5. Re Schreyer.

Indalex Limited ("Indalex") was the sponsor and administrator of two underfunded defined benefit pension plans – one for salaried employees and one for executives. The salaried plan was in the process of being wound up.