The Ontario Superior Court of Justice (Commercial List) (the “Court”) in Re Harte Gold Corp.,^[1]issued its first published decision on the use of reverse vesting orders (“RVOs”) finding that the

Good afternoon.

Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 27, 2021. There were only two substantive civil decisions released this week.

Due to a number of factors, including the extent of available capital in the markets and the continued backstop provided by government programs designed to blunt the economic effects of the pandemic, 2021 was not the apocalypse many were predicting. Nevertheless, Canadian restructuring professionals and courts continued to confront and overcome issues in a number of important areas, including extraordinary first day relief, good faith and lack thereof, eligible financial contracts and liquidating Companies’ Creditors Arrangements Act (CCAA) proceedings.

Whether—and in what circumstances—a debtor should pay creditors a make-whole premium continues to be litigated in bankruptcy courts. Last week, as reported by Bloomberg, Judge Dorsey (Delaware) ruled that the debtor – Mallinckrodt Plc – did not need to pay a make whole premium to first lien lenders in order to reinstate such obligations under the debtor’s chapter 11 plan.

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Following are this week’s summaries of the Court of Appeal for Ontario for the week of September 13, 2021.

Good afternoon.

Please find below our summaries of the civil decisions of the Ontario Court of Appeal for the week of August 23, 2021.

There were three substantive civil decisions this week. Vu v. Canada (Attorney General) deals with discoverability and limitation periods related to the torts of false arrest and imprisonment. In dismissing the appeal, the Court confirmed the date of an arrest is merely a presumptive date for the commencement of the limitation period – a date that can be rebutted.

Many describe the United States as Canada's most important trade partner. Cross-border insolvency proceedings between the two jurisdictions are frequent and the recognition by one country's court of the other's bankruptcy orders is an important tool in facilitating the restructuring of companies with operations that spread across North America. A recent decision from the Ontario Court of Appeal (leave to appeal of which was denied by the Supreme Court of Canada) invites us to reflect on the delicate balance between comity for foreign orders and Canada's sovereignty over domestic laws.

Suppliers and subcontractors in the construction industry should be mindful of a recent unreported decision of the Ontario Superior Court of Justice. In Carillion Canada Inc. (Re), the Court held that an automatic cash sweep of Carillion’s Ontario bank account rid the funds of their trust character leaving Carillion’s subcontractors in Canada with no proprietary claim to $22 million sitting in an overseas bank account maintained with a global bank (the “Bank”).

Good afternoon.

Following are this week’s summaries of the Court of Appeal for Ontario for the week of June 14, 2021.

In Kelava v. Spadacini, the Court found that a Deputy Judge of the Small Claims Court has the jurisdiction to make a representation order relying on Rule 12 of the ordinary Rules of Civil Procedure by analogy. The overriding consideration in Small Claims Court matters is access to justice.

The Commercial List of the Ontario Superior Court of Justice recently granted an order structurally similar to a reverse vesting order in the receivership proceedings of Vert Infrastructure Ltd. (Vert). This first-of-its-kind order was granted on the motion of Vert’s receiver, KSV Restructuring Inc. (KSV).¹