On November 14, 2015, the Supreme Court of Canada rendered three decisions on the application of the the Bankruptcy and Insolvency Act, RSC 1985, c. B-3 (BIA) and its interaction with certain provincial statutes.
OVERVIEW OF THE FACTS
Le 14 novembre 2015, la Cour suprême du Canada a rendu trois arrêts portant sur l’application de la Loi sur la faillite et l'insolvabilité, L.R.C. 1985, c. B-3 (LFI) et son interaction avec certaines lois provinciales.
APERÇU DES FAITS
The Ontario Court of Appeal (Court) recently affirmed the decision of the Ontario Superior Court of Justice in Nortel Networks Corporation (Re) (Nortel),[1] that the “interest stops” rule applies in proceedings unde
This Fall the Alberta Surface Rights Board (the “Board”) Panel issued its decision in Lemke v Petroglobe Inc, 2015 ABSRB 740. The Panel decided that it did not have authority to proceed with a claim by a landowner for unpaid compensation that had accrued before the date that the operator was assigned into bankruptcy.
Introduction
The Ontario Court of Appeal recently affirmed the decision of the Ontario Superior Court of Justice in ReNortel Networks Corporation that the common law interest stops rule applies in proceedings under the Companies' Creditors Arrangement Act. The court also clarified that parties retain the right to provide for the consensual payment of post-filing interest in a Companies' Creditors Arrangement Act plan of reorganisation.
35820 Alberta (Attorney General) v. Moloney
Constitutional law — Division of powers — Federal paramountcy — Bankruptcy and insolvency
Appeal from a judgment of the Alberta Court of Appeal (2014 ABCA 68), affirming a decision of Moen J. (2012 ABQB 644).
What do a car crash in Alberta, a delinquent farm mortgage in Saskatchewan and an unpaid highway toll ticket in Ontario have in common?
They all ended up in the Supreme Court of Canada.
On 9 April 2018 Linc Energy Ltd (in liquidation) was convicted of causing serious environmental harm at its pilot underground coal gasification facility near Chinchilla, Queensland.
Administrators were appointed to the company on 15 April 2016. On 23 May they were appointed liquidators after creditors resolved that the company be wound up.
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