February
7, 2013
Indalex – Priorities and Pension Deficiencies
The Supreme Court of Canada recently released its highly anticipated decision in Indalex Limited (Re), stemming from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty for financing transactions. The primary issue for lenders was a priority dispute between a court ordered super-priority charge granted to a lender that had provided “debtor-in-possession” financing under the Companies’ Creditors Arrangement Act (Canada), and deemed trusts under the Ontario Pension Benefits Act, in respect of wind up deficits in defined benefit pension plans.
Read the entire article
Indalex – Priorities and Pension Deficiencies
The Supreme Court of Canada recently released its highly anticipated decision in Indalex Limited (Re), stemming from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty for financing transactions. The primary issue for lenders was a priority dispute between a court ordered super-priority charge granted to a lender that had provided “debtor-in-possession” financing under the Companies’ Creditors Arrangement Act (Canada), and deemed trusts under the Ontario Pension Benefits Act, in respect of wind up deficits in defined benefit pension plans.
Read the entire article
Location