Pension and insolvency lawyers have been waiting with great anticipation for the Supreme Court of Canada to rule in Indalex.  The decision was released on February 1, 2013 and represents a major statement by Canada’s top court on the intersection of pension and insolvency law.

The solar manufacturing industry is suffering from over-capacity.  The North American industry is struggling in the face of considerable competition from Asia.  There have been several manufacturer bankruptcies in North America and Europe in the past year.  As an example, Solar Trust of America and its parent Solar Millenium, a German company, both declared bankruptcy in April of this year.  And of course, the investment market i

Creditors and debtors often enter into agreements with respect to the repayment of indebtedness.

Amendments to the Bankruptcy and Insolvency Act (BIA) and related new legislation came into force in the summer of 2008 which were aimed at significantly enhancing and protecting, among other things, employee related claims against bankrupt or insolvent companies. The amendments included a super priority charge over all assets for some, but not all, pension claims as well as a limited priority charge over certain assets for some wages owing to employees, subject to a cap for each employee.