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Late bids in a receivership sales process
- Dentons
- -
- Canada
- -
- March 31 2010
In Bank of Montreal v River Rentals Group Ltd 2010 ABCA 16, the Alberta Court of Appeal had to consider the acceptance of a higher bid made after the tender closing date
Court compels examination under BIA notwithstanding self-incrimination objection
- Dentons
- -
- Canada
- -
- March 31 2010
In Rieger Printing Ink Co, 2009 WL 477541 (Ont S.C.J. Commercial), the Ontario Superior Court of Justice dealt with a party's right to protection against self-incrimination in relation to an examination held under section 163 of the Bankruptcy and Insolvency Act, R.S.C., 1985 c. B-3 ("BIA"
Reorganization proceedings continued notwithstanding allegations of conflict
- Dentons
- -
- Canada
- -
- February 25 2010
In a recent decision of the Ontario Superior Court of Justice, Re Smurfit-Stone Container Canada Inc., Justice Pepall examined the conflicting interests that arise where companies within a group of restructuring companies have made intercompany loans to one another, and where the board of directors mirror each other in each subsidiary
Court restricts access to debtor's data room
- Dentons
- -
- Canada
- -
- February 25 2010
Recently, in Re AbitibiBowater Inc., the Province of Newfoundland sought a court order granting it access to the electronic data room of Abitibi created for the purpose of dissemination of certain non-public financial and operation information to its counsel, certain creditors, and the Monitor
Reorganization of multi-unit residential developments
- Dentons
- -
- Canada
- -
- November 30 2009
Over the last two years, with the fluctuations in the economic market, commercial real estate in distress has become a lively topic among insolvency practitioners and even in court decisions
Asset sales in the CCAA
- Dentons
- -
- Canada
- -
- October 30 2009
Nortel Networks ("Nortel") brought a motion seeking approval of the sale of various Nortel assets to Nokia Siemens ("Asset Sale Agreement"), and for approval of a Sale Agreement and Bidding Procedures, advanced by Nortel for the purpose of conducting a "stalking horse" bidding process in respect of its Code Division Multiple Access ("CDMA") and Long-Term Evolution Access ("LTE") assets
Restructuring under the Business Corporations Act
- Dentons
- -
- Canada
- -
- September 30 2009
In the recent case of Re Masonite International Inc., the Ontario Superior Court approved a plan of arrangement under the Canada Business Corporations Act (“CBCA”), notwithstanding that certain insolvent entities were involved
Ancillary foreign proceedings in Canada
- Dentons
- -
- Canada, USA
- -
- August 31 2009
Lear Corporation, a Delaware corporation, its Canadian subsidiaries, and other affiliates, sought an Order under s. 18.6 of the Companies’ Creditors Arrangement Act (“CCAA”) for a declaration that Chapter 11 proceedings in the U.S. Bankruptcy Court (New York) constituted “foreign proceedings” and for a stay of proceedings
Court preserves right to sue receiver in respect of court-approved transaction
- Dentons
- -
- Canada
- -
- July 30 2009
1117387 Ontario Inc., by court order in October 2003, was placed under receivership for defaulting on payment of a mortgage
CCAA court allows debtor to pay pre-filing unsecured debts
- Dentons
- -
- Canada
- -
- July 30 2009
Recently, in Re Eddie Bauer of Canada Inc., Justice Morawetz ordered a debtor was entitled to pay amounts owing for goods and services actually supplied prior to the filing date
