Ontario courts approve Magna plan of arrangement

Introduction and Background

Filed under:
Canada, Ontario, Insolvency & Restructuring, Litigation, Dentons, Share (finance), Corporate governance, Shareholder, Board of directors, Legal burden of proof, Voting, Debenture, Bell Canada, Morgan Stanley, Canadian Imperial Bank of Commerce, Supreme Court of Canada, Ontario Superior Court of Justice
Authors:
Robb C. Heintzman , Michael D. Schafler
Location:
Canada
Firm:
Dentons
Official Committee of Unsecured Creditors of Quebecor World (USA) Inc. v. American United Life Insurance Company, et. al. (In re Quebecor World (USA) Inc.), 2013 U.S. App. LEXIS 11615 (2d Cir. June 10, 2013)

The United States Court of Appeals for the Second Circuit (the "Second Circuit") recently affirmed a broad reading of the safe harbor of United States Bankruptcy Code (the "Bankruptcy Code") section 546(e), which protects from avoidance both "margin payments" and "settlement payments" as well as transfers made in connection with a "securities contract." In Quebecor, the Second Circuit affirmed decisions of the bankruptcy and district courts and held that the purchase by Quebecor World (USA) Inc.

Filed under:
USA, Insolvency & Restructuring, Litigation, Hunton Andrews Kurth LLP, Canadian Imperial Bank of Commerce, Second Circuit
Authors:
Benjamin C. Ackerly , Tyler P. Brown , Shannon E. Daily , Tara L. Elgie , Jarrett L. Hale , Jason W. Harbour
Location:
USA
Firm:
Hunton Andrews Kurth LLP