In a recent decision[1], the British Columbia Supreme Court (the “Court”) determined that purported secured loans made by a shareholder were properly characterized as equity contributions to the subject company and therefore subordinate to the claims of the company’s creditors.
Good evening.
Below are the summaries of this week’s civil decisions of the Court of Appeal for Ontario.
APPLICATIONS FOR LEAVE TO APPEAL DISMISSED
37656
Norris Barens v. Her Majesty the Queen (B.C.)
Canadian Charter of Rights and Freedoms – Constitutional law – Mobility rights
The applicant was convicted of driving without a licence contrary to s. 24(1) of the Motor Vehicle Act, R.S.B.C. 1996, c. 318.
The Owners, Strata Plan VR 1966[1] marks the first time the BC Supreme Court has rejected an application to wind-up a strata corporation pursuant to Bill 40 under the Strata Property Act
Good evening.
Below are the summaries of this week’s civil decisions of the Court of Appeal for Ontario.
This is the second instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. The Companies' Creditors Arrangement Act (Canada) (CCAA) is the principal statute for the reorganization or sale of large corporate debtors in Canada and the functional equivalent to Chapter 11 of the U.S. Bankruptcy Code (Chapter 11) in the United States. Accordingly, our series focuses on CCAA proceedings, with references to alternate insolvency proceedings where applicable.
Earlier this year, the Alberta Court of Appeal, in Grant Thornton Ltd. v. Alberta Energy Regulator, 2017 ABCA 124 decided that secured creditors in a bankruptcy should be paid before environmental claims arising from abandoned oil and gas wells. There was a strong dissent and Alberta’s energy regulator is seeking leave to appeal to the Supreme Court of Canada.
A recent unreported decision in the Alberta Court of Queen’s Bench has clarified the ranking of certain municipal tax claims against a bankrupt in Alberta. In Bank of Nova Scotia et al v. Virginia Hills Oil Corp.
Affinity Credit Union 2013 v. Vortex Drilling Ltd. 2017 SKQB 228
Voici le premier d’une série d’articles portant sur l’insolvabilité de grands détaillants au Canada considérée sous divers angles. La Loi sur les arrangements avec les créanciers des compagnies (Canada) (la « LACC ») est le principal texte de loi qui régit la réorganisation ou la vente de grandes sociétés débitrices au Canada; il est l’équivalent du chapitre 11 du U.S. Bankruptcy Code (le « chapitre 11 »).