Royalties from music publisher belonged to lender of bankrupt

Re Friedman (2008), 49 C.B.R. (5th) 131 (Ont. S.C.J. in bankruptcy)

Mr. Friedman assigned his rights to royalties he would receive from SOCAN, the Canadian copyright collective that administers royalties for tis members, to his music publisher, to secure loan advances to him from the publisher.

Filed under:
Canada, Insolvency & Restructuring, Intellectual Property, Litigation, Miller Thomson LLP, Royalty payment, Wage, Bankruptcy, Copyright collective, Bankruptcy and Insolvency Act 1985 (Canada)
Location:
Canada
Firm:
Miller Thomson LLP
PPSA registrations: is this the weakness in your armour?

As the saying goes, an ounce of prevention is worth a pound of cure. This expression is particularly apt when it comes to secured creditors and their registrations under the Ontario Personal Property Security Act (the “PPSA”). Although “getting it right the first time” has always been the mantra of secured creditors, the economic roller coaster ride of recent months has heightened the need to ensure a properly perfected secured claim.

Filed under:
Canada, Ontario, Insolvency & Restructuring, Miller Thomson LLP, Debtor, Collateral (finance), Economy, Voting, Secured creditor, Personal Property Security Act 1990 (Canada)
Authors:
Craig A. Mills , Margaret R. Sims
Location:
Canada
Firm:
Miller Thomson LLP
The WEPPA super-priority claim

No doubt by now, every creditor knows of the new protections given to employees in the face of a company’s insolvency as a result of the enactment of the Wage Earner Protection Program Act (“WEPPA”) and related amendments to the Bankruptcy and Insolvency Act (“BIA”) on July 7, 2008.

Filed under:
USA, Employment & Labor, Insolvency & Restructuring, Miller Thomson LLP, Wage, Bankruptcy, Debtor, Audit, Accounts receivable, Severance package, US Federal Government, Bankruptcy and Insolvency Act 1985 (Canada)
Authors:
Craig A. Mills , Margaret R. Sims
Location:
USA
Firm:
Miller Thomson LLP