This morning, the Supreme Court of Canada granted leave to
appeal the Ontario Court of Appeal's decision in Re Indalex
Limited (Indalex) that was delivered on April 7,
2010. A hearing is expected later in 2012.
Jay Swartz, a partner at Davies, said:
"We are pleased that the Supreme Court of Canada has agreed to
hear the appeal. The Indalex case has major ramifications
for Canadian insolvency and pension law and the decision of the
Ontario Court of Appeal has created great uncertainty within the
legal and business community."
For further insight into the significance of Indalex and
the Ontario Court of Appeal's decision, please see Davies'
earlier publications:
Ontario Court of Appeal Decision Fundamentally Changes Corporate
Restructuring Landscape, and
Indalex: Not Just a Pension Case.
View the Supreme Court's full decision here.
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