Vanquish Oil & Gas (“Vanquish”), now in receivership, was a trustee under a joint operating agreement for an oil well. It was required to remit 45% of the well’s net production proceeds to a proportional owner - either Karl Oil and Gas Ltd. or Choice Resources Corporation (who disputed the entitlement at the time).
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In Brookfield Bridge Lending Fund Inc. v.
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The Supreme Court has held that a principal was entitled to recover payments collected by its agent on its behalf following the agent's insolvency: Bailey and another (Respondents) v Angove's PTY Limited (Appellant) [2016] UKSC 47.
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On April 7, 2011, in the context of a liquidating CCAA that achieved a going concern sale of the debtor’s business, the Ontario Court of Appeal held that:
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Canada, Ontario, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Debtor, Collateral (finance), Fiduciary, Beneficiary, Liquidation, Balance sheet, Defined benefit pension plan, Constructive trust, Companies' Creditors Arrangement Act 1933 (Canada), United Steelworkers, Supreme Court of Canada, Court of Appeal for Ontario
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