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Torys LLP
Retail trade and accommodation and food services were sectors anticipated by many to face the most short-term hardship due to the pandemic.
SpenceDrake Tax Law
A taxpayer can still be held liable for a tax debt thought to have been erased by bankruptcy. This was the decision of the Federal Court of Appeal in Canada v. Heavyside, 1996 CanLII 3932 (FCA)...
Torys LLP
In Canadian insolvency proceedings, standby letters of credit are occasionally a form of security that certain parties may hold, which can potentially give enhanced rights.
Davies Ward Phillips & Vineberg
Most of us have stopped asking, "When will it be over?" and have started wondering how we can live with COVID-19 – and how it will change our behaviour from now on.
McCarthy Tétrault LLP
In the matter of the Companies' Creditors Arrangement Act (the "CCAA") of Bloom Lake, the Superior Court of Québec rendered a judgment regarding the expansion of the powers of the monitor in a context where a creditor refused to produce documentation requested by the debtors.
Blake, Cassels & Graydon LLP
A Comparison of the Key Differences Between Chapter 11 of the U.S. Bankruptcy Code and the Companies' Creditors Arrangement Act.
Gowling WLG
In this series, you will meet a number of practitioners in our Toronto office who have helped their clients overcome a variety of complex legal obstacles.
McMillan LLP
The Supreme Court of Canada's recent decision in Canada v. Canada North Group Inc.[1] provided much needed clarity regarding the order of priority for unremitted source deductions in restructuring proceedings.
MLT Aikins LLP
On July 28, 2021, the Supreme Court of Canada released its decision in Canada v Canada North Group Inc., upholding the priority of "priming charges" ...
Gowling WLG
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...
McCarthy Tétrault LLP
The Supreme Court of Canada ("SCC") has released its decision in Canada North, conclusively resolving the priority dispute between deemed trusts created under the federal "fiscal statutes"...
Cassels
A recent decision of the Ontario Superior Court of Justice in Re Marleau (2021 ONSC 3390) reminds lenders who take security in individuals' vehicles that if a vehicle is moved to Ontario...
Cassels
On July 28, 2021, the SCC issued its much-anticipated reasons in Her Majesty the Queen in Right of Canada v. Canada North Group Inc., et al concerning the relative priority of court ordered restructuring charges ...
Stikeman Elliott LLP
In the past two years, reverse vesting orders ("RVOs") have gone from obscurity to being the tool of choice in many complex restructurings under the Companies' Creditors Arrangement Act (the "CCAA").
Siskinds LLP
Two recent cases, Bank of Montreal v. Mathivannan, 2021 ONSC 2538 (CanLII) and Johansen v Wallgren, 2021 ABCA 234 (CanLII), highlight some procedural pitfalls to avoid when trying to have a claim survive a debtor's discharge.
MLT Aikins LLP
One year to the day from when EncoreFX Inc. made an assignment in bankruptcy pursuant to the Bankruptcy and Insolvency Act (BIA), Ernst & Young Inc. (EYI, initially the "Trustee" and currently the "Monitor")...
McMillan LLP
Reverse vesting orders allow the realization of value from assets of a debtor company in circumstances where a traditional transaction model is not effective, preserving the value of permits, tax losses and other assets ...
Borden Ladner Gervais LLP
On June 17, 2021, the Alberta Court of Appeal (ABCA) dismissed two companion appeals in the receivership proceedings of Accel Canada Holdings Limited (Holdings) and Accel Energy Canada Limited...
Davies Ward Phillips & Vineberg
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).
Davies Ward Phillips & Vineberg
Canada's economy has continued to fare surprisingly well since we published the first issue of our 2021 Restructuring Review in March, despite continuing pandemic restrictions.
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