Law on CCAA asset sales clarified in Nortel proceedings

The highly publicized announcement by Nortel Networks Corporation (together with its subsidiaries and affiliates, “Nortel”) of its intention to sell certain of its businesses has provided an opportunity for the Ontario Superior Court of Justice to settle the state of the law in Ontario (and, hopefully, across Canada) on the sale of all or substantially all of an entity’s assets within a Companies’ Creditors Arrangement Act (“CCAA”) proceedings.

Filed under:
Canada, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Telecoms, Norton Rose Fulbright, Bankruptcy, Debtor, Good faith, Business judgement rule, Subsidiary, Companies' Creditors Arrangement Act 1933 (Canada), United States bankruptcy court, US District Court for District of Delaware, Ontario Superior Court of Justice
Authors:
Evan Cobb
Location:
Canada
Firm:
Norton Rose Fulbright Canada LLP
Australian court opens door to Chapter 11

Introduction

Filed under:
Australia, USA, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Debtor, Australian Securities Exchange
Location:
Australia, USA
Firm:
Norton Rose Fulbright Australia
Important cross-border enforcement decision by the New York courts

Summary

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Debtor, Interest, Debt, Personal property, Subsidiary, Forum shopping
Authors:
Charles Evans , Roger Heward , Philip Roche
Location:
USA
Firm:
Norton Rose Fulbright
Back to Square One … Eighth Circuit Bankruptcy Appellate Panel Reverses Motion to Dismiss Bankruptcy Case Based on Reversal of Three Year Old Ruling

We have written on other occasions on Civic Partners Sioux City, LLC.

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Debtor, Debt, Mortgage loan, United States bankruptcy court, Bankruptcy Appellate Panel
Location:
USA
Firm:
Weil Gotshal & Manges LLP