Registering a financing statement under the Ontario PPSA[1] to perfect a security interest is a key means of protecting a secured creditor’s priority over collateral. It is important for secured creditors to be cognizant however that there are situations where other claims that are not subject to traditional registration requirements may still trump a secured creditor’s registered security interest.
Joint venture partners commonly enter into operating agreements which grant operators a security interest, referred to as an operator’s lien. Operator’s liens are, for the most part, consensual and contractual security interests subject to the provisions of the Personal Property Security Act, RSA 2000, c P-7 (the “PPSA”) and the priority regime set out therein.
Srie sur l'insolvabilit des dtaillants au Canada : Le point de vue des fournisseurs
Linc Rogers et Aryo Shalviri
What rights do subcontractors, bonding companies and owners have to project funds when a general contractor is insolvent?
Alberta Energy has increasingly been targeting insolvent lessees and the historical gas cost allowances claimed by those insolvent companies.
Alberta Energy deducts allowances for capital and operating costs and custom processing fees incurred and paid in Alberta for compressing, gathering and processing its royalty share of gas and gas products through the Crown share of allowable costs. Accordingly, there are three allowances available from the Crown: capital cost, operating cost and custom processing fee allowance.
The recent decision in ITB Marine Group Ltd. v. Northern Transportation Company Limited, 2017 BCSC 2007 ["ITB"] confirms the priority of pension claims in the insolvency context. The decision will be of interest to practitioners involved in priority disputes between secured creditors and beneficiaries of statutory deemed trusts, particularly those arising out of pension legislation.
On November 9, 2017, the Supreme Court of Canada granted the Alberta Energy Regulator and the Orphan Well Association’s request for leave to appeal from the decision in Grant Thornton Ltd. v. Alberta Energy Regulator, 2017 ABCA 124.
Below are this week’s summaries of the civil decisions of the Court of Appeal.
Congratulations to our very own Bill Anderson for succeeding on our client’s appeal in Holmes v. Hatch Ltd., 2017 ONCA 880.
In this Employment law decision, the Court of Appeal allowed the appeal from the motion judge’s decision granting summary judgment against our client on the basis that the motion judge was not at liberty to find liability on a legal theory that was not pleaded by the plaintiff and which our client did not have an opportunity to properly address in the evidence.
In 2017, a number of insolvency cases were litigated, in various provinces across Canada, which may materially affect the realization and recovery rights of commercial lenders in restructuring and insolvency proceedings. This article summarizes the core issue of importance to lenders in each of these cases and provides an update on their appeal status.
November 2, 2017 September 11, 2017
INTEGRITY OF COURT-ORDERED SALE PROCESS
Squestre de Gestion EGR inc. et Lemieux Nolet inc., syndics de faillite et gestionnaires