In this memorandum opinion, the Court of Chancery denied the plaintiffs’ (Roseton OL LLC and Danskammer OL, LLC) motion seeking to temporarily restrain the consummation of a transaction pursuant to which defendant Dynegy Holdings, Inc. (“DHI”) would transfer its most profitable power plants from existing subsidiaries to new bankruptcy remote subsidiaries.
You know, there’s never a dull moment when one reports on the regulatory states’ endless and so often fruitless and wrong-headed tinkering with the global economy. So now… let’s talk bail-in.
On 31 December 2013, Banco de Portugal issued instruction no. 32/2013 implementing new rules on the identification and flagging of distress debt financing restructures (“Instruction 32/2013”) and revoking its instruction no.18/2012 on the same matter.
Instruction 32/2013 is applicable to credit institutions and to financial institutions with lending activity as well as branches of credit institutions with head offices outside the EU (“Institutions”).
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Fairbanx Corp v Royal Bank of Canada, 2010 ONCA 385 (Ont CA), on appeal from 2009 CanLII 55376 (Ont SC)
Fairbanx factored accounts for the debtor, Friction Tecnology Consultants Inc. Fairbanx made its Ontario PPSA registration misspelling the name as Technology, with an “H”. Two years later, the debtor obtained a line of credit from the Bank, which correctly named the debtor in its Ontario PPSA registration.
Caisse Populaire Desjardins de l’Est de Drummond v. Canada, 2009 SCC 29
Caisse populaire Desjardins de l’Est de Drummond v. Canada, 2009 SCC 29 (Can LII) (S.C.C.); on appeal from 2006 FCA 366 (Can LII)
The Caisse granted Camvrac a line of credit of up to $297,000. Camvrac deposited $200,000 with the Caisse subject to a “Security Given Through Savings” agreement (the “Savings Agreement”) and agreed:
(i) to have the $200,000 on deposit as long as the line of credit was outstanding; and
Canadian Superior
Fourth-time personal bankruptcies come along so rarely that they deserve special recognition. The Supreme Court of British Columbia was recently presented with one such instance when Mr. Thomas Boivin ("Boivin") applied for a discharge from his fourth bankruptcy.
Over the course of about thirty years, Boivin's use of credit left creditors with total debts of approximately $834,000.
In Warren v. Warren the British Columbia Supreme Court recently appointed an equitable receiver over the assets of a judgment to debtor, notwithstanding that the Plaintiff did not have any security.