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Debtor in possession charge in priority to Canada Revenue Agency’s deemed trust

Dentons
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Canada
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April 29 2009

In Canada (Deputy Attorney General) v. Temple City Housing Inc., the Alberta Court of Appeal had to consider an application for leave to appeal a provision in a Companies' Creditors Arrangement Act (Canada) (“CCAA”) order granting a DIP lender a charge in priority over the claims of CRA

Supplier's rights under S. 81.1 of the Bankruptcy and Insolvency Act expanded

Dentons
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Canada
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April 29 2009

Section 81.1 of the Bankruptcy and Insolvency Act (“BIA”) grants a temporary super priority to suppliers who provided goods to a bankrupt purchaser or where a receiver has been appointed in relation to the purchaser

The “hardship fund” in CCAA proceedings

Dentons
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Canada
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April 29 2009

In Re EarthFirst Canada Inc., Justice Romaine had to consider establishing a “hardship fund” that would be used to allow EarthFirst Canada Inc. (“EarthFirst”) to pay pre-filing obligations owing to certain suppliers and contractors operating in a remote community where EarthFirst is developing a wind farm project

Corn producers not able to rely on their supplier rights under the BIA

Dentons
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Canada
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February 28 2008

In Meunerie B.L. inc., Re (2007), EYB 2007-126274, 2007 QCCA 1601 (Que. C.A.) affirming (2006), EYB 2006-109274, 2006 QCCS 4914 (Que. S.C.) Meunerie B.L. Inc. (“Meunerie”) made an assignment in accordance with the Bankruptcy and Insolvency Act (“BIA”

Substantial amendments to Ontario’s PPSA legislation

Osler, Hoskin & Harcourt LLP
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Canada
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May 1 2007

Ontario has introduced a series of significant amendments to the Personal Property Security Act (Ontario) (the PPSA

Court affirms priority entitlement of Canadian creditors to post-liquidation interest from Canadian branch of foreign insurance company

Stikeman Elliott LLP
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Canada
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September 2 2009

On July 14, 2009, the Ontario Superior Court of Justice released its decision in Canada (Attorney General) v. Reliance Insurance Company, an application regarding the allocation of surplus arising from the liquidation of the Canadian branch (Reliance Canada) of U.S.-based Reliance Insurance Company (Reliance U.S.), a property and casualty insurer that was itself in liquidation

Surviving a restructuring and key employee retention programs

Norton Rose Canada LLP
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Canada, USA
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May 12 2009

Retention of key employees is a primary concern of any company that is seeking to survive a restructuring process as a viable operating business

Federal budget introduces new insolvency rules for eligible financial contracts

Osler, Hoskin & Harcourt LLP
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Canada
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June 11 2007

On March 29, 2007 the Federal Government introduced Bill C-52: An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2007 (Bill C-52

Alberta Receiver recognized in Colorado under Chapter 15 of the US Bankruptcy Code

Dentons
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Canada, USA
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February 28 2008

Ernst & Young Inc. was appointed by the Court of Queen’s Bench of Alberta as the Receiver and Manager of an Alberta Corporation named Klytie’s Development Inc., its Colorado subsidiary, and the two primary shareholders of the debtor companies

The importance of registering name changes

Dentons
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Canada
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January 30 2009

In Royal Bank of Canada v. Head West Energy Inc., the Court of Appeal considered the priority of two security interest registrations against the same collateral, namely industrial camp trailers, and the obligations, pursuant to the Personal Property Security Act, R.S.A. 2000, c. P-7 (“PPSA”) of a security holder to amend its registration to reflect a name change when the security holder has knowledge of that name change

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Search results

Debtor in possession charge in priority to Canada Revenue Agency’s deemed trust

Supplier's rights under S. 81.1 of the Bankruptcy and Insolvency Act expanded

The “hardship fund” in CCAA proceedings

Corn producers not able to rely on their supplier rights under the BIA

Substantial amendments to Ontario’s PPSA legislation

Court affirms priority entitlement of Canadian creditors to post-liquidation interest from Canadian branch of foreign insurance company

Surviving a restructuring and key employee retention programs

Federal budget introduces new insolvency rules for eligible financial contracts

Alberta Receiver recognized in Colorado under Chapter 15 of the US Bankruptcy Code

The importance of registering name changes

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