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Results: 1-10 of 30

Practical implications of the Supreme Court of Canada’s decision in (Re) Indalex

  • Norton Rose Canada LLP
  • -
  • Canada
  • -
  • February 6 2013

The Supreme Court of Canada's decision in (Re) Indalex has changed the landscape for both lenders and borrowers in Canada who sponsor registered

Supreme Court of Canada restores super-priority of DIP lenders in CCAA proceedings

  • Norton Rose Canada LLP
  • -
  • Canada
  • -
  • February 1 2013

In (Re) Indalex, the Supreme Court of Canada (SCC) affirmed the super-priority of the security granted to a debtor-in-possession (DIP) lender, over

Sino-Forest: Ontario Court of Appeal upholds superior court decision on “equity claims”

  • Norton Rose Canada LLP
  • -
  • Canada
  • -
  • November 27 2012

In Re Sino-Forest Corporation, the Ontario Court of Appeal upheld the interpretation of “equity claims” employed by Justice Morawetz of the Ontario Superior Court of Justice (Commercial List

Receivers released from ASIC confidentiality undertakings

  • Norton Rose Australia
  • -
  • Australia
  • -
  • September 11 2012

On 15 May 2012, Jacobson J of the Federal Court of Australia allowed an application by Receivers to be released from confidentiality undertakings so that use could be made of Australian Securities and Investments Commission (ASIC) examination transcripts

Personal Property Securities Act - “the need to be hasty”

  • Norton Rose Australia
  • -
  • Australia
  • -
  • August 16 2012

A recent Federal Court of Australia decision in the administration of the Hastie Group Limited (Hastie Group)1 illustrates a number of important points for administrators, secured parties and purchasers under the new regime established under the Personal Property Securities Act 2009 (Cth) (PPSA

The “mirror principle:” a partial "roll up" DIP order can be recognized under Part IV of the CCAA

  • Norton Rose Canada LLP
  • -
  • Canada
  • -
  • June 20 2012

Prior to the 2009 amendments (the “Amendments”) to the Companies’ Creditors Arrangement Act (the “CCAA”), courts exercising jurisdiction under that statute could, in the appropriate circumstances, approve “roll up” debtor in possession (“DIP”) financing arrangements

Personal liability of directors to creditors overturned

  • Norton Rose Australia
  • -
  • Australia
  • -
  • June 8 2012

In our March 2012 Insurance Update we considered the potential widening of the scope for creditors to claim damages against a director personally for contravention of the Corporations Act 2001 (Act

Ontario Superior Court confirms third-party releases are permitted in BIA proposals

  • Norton Rose Canada LLP
  • -
  • Canada
  • -
  • April 13 2012

In the Kitchener Frame Ltd decision, the Ontario Superior Court of Justice (Commercial List) confirmed that third-party releases in proposals made under the BIA are permitted

Ontario Superior Court rules on priorities in insolvency proceedings of environmental orders for historical contamination

  • Norton Rose Canada LLP
  • -
  • Canada
  • -
  • March 20 2012

The Ontario Superior Court of Justice (Commercial List) has confirmed that historical environmental remediation obligations will not automatically take priority over the claims of other creditors in an insolvency, even where those obligations are framed in the form of regulatory orders

Arbitrating against companies in administration

  • Norton Rose LLP
  • -
  • Australia, United Kingdom
  • -
  • March 13 2012

On 5 October 2011, the NSW Supreme Court upheld an application pursuant to s 440D(1) of the Corporations Act 2001 (Cth) for leave to bring and continue proceedings against a defendant under voluntary administration