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Results: 1-10 of 72

Indalex decision: insolvency law v. pension law, round three

  • Davis LLP
  • -
  • Canada
  • -
  • February 11 2013

The Supreme Court of Canada's decision in the case of Re Indalex Ltd. 2013 SCC 6 (the "Decision") does not, as one national newspaper put it place

Indalex: what are the pension implications?

  • Osler, Hoskin & Harcourt LLP
  • -
  • Canada
  • -
  • February 11 2013

"When a business becomes insolvent, many interests are at risk. Creditors may not be able to recover their debts, investors may lose their

Bankrupt companies and underfunded pension plans

  • Osler, Hoskin & Harcourt LLP
  • -
  • Canada
  • -
  • October 22 2009

With a number of Canadian companies seeking bankruptcy protection over the past few months, it has become apparent that the defined benefit pension plans sponsored by many of these companies are underfunded

The new employee super-priority - new issues for secured creditors

  • Cassels Brock & Blackwell LLP
  • -
  • Canada
  • -
  • July 17 2008

For the first time ever in Canada, super-priority rights have been given to employees which will take priority over existing secured creditors

The perils of partial wind-ups: Ontario Court of Appeal releases decision in Hydro One

  • Heenan Blaikie LLP
  • -
  • Canada
  • -
  • January 15 2010

The Ontario Court of Appeal released its decision in Hydro One Inc. v. Ontario (Financial Services Commission) on January 11, 2010

Bankruptcy reform in Canada - yet further protection for pension plan and employee claims?

  • Lawson Lundell LLP
  • -
  • Canada
  • -
  • October 18 2010

Amendments to the Bankruptcy and Insolvency Act (BIA) and related new legislation came into force in the summer of 2008 which were aimed at significantly enhancing and protecting, among other things, employee related claims against bankrupt or insolvent companies

Alberta exempts registered savings plans from seizure

  • Miller Thomson LLP
  • -
  • Canada
  • -
  • May 14 2010

One more province has joined the ranks of extending creditor protection to registered savings plans

Tough times and pension funding in Canada: lessons from Slater Steel

  • Fasken Martineau DuMoulin LLP
  • -
  • Canada
  • -
  • September 17 2008

The decision of the Ontario Court of Appeal earlier this year in Slater Steel exposed 10 directors, officers and employees to possible personal liability of $20 million with no meaningful recourse against the insolvent Slater Steel or its assets

Indalex decision: implications from a pensions & benefits perspective

  • Osler, Hoskin & Harcourt LLP
  • -
  • Canada
  • -
  • April 19 2011

The Ontario Court of Appeal decision in Indalex Limited (Re) has created considerable uncertainty over the priority status afforded to pension plan wind-up deficits, particularly in insolvency proceedings involving the plan sponsor

Traps for the unwary secured creditor obligations under the Wage Earner Protection Program

  • Cassels Brock & Blackwell LLP
  • -
  • Canada
  • -
  • July 23 2009

As we warned in our earlier articles, "Wage Earner Protection Program Act Comes Into Force - Secured Creditors Be Wary" and "Extension of the WEPPA Further Protection for Employees", the Wage Earner Protection Program Act (the "WEPPA") took effect on July 7th, 2008 to establish a new regime to give employees enhanced protection for wages and pensions in the event of the bankruptcy or receivership (court or privately appointed) of their employer

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