Mondaq Canada: Insolvency/Bankruptcy/Re-structuring
McMillan LLP
We previously wrote about the decision in The Queen v. Callidus Capital Corporation of the Federal Court of Appeal in our Restructuring and Tax Bulletin.
Borden Ladner Gervais LLP
On November 8, 2018, in a decision delivered unanimously from the bench, the Supreme Court of Canada confirmed that the Crown's superpriority over unremitted Goods and Services Tax/Harmonized Sales Tax (GST/HST) is ineffective against a secured creditor who received, prior to a tax debtor's bankruptcy, proceeds from that taxpayer's assets.
Norton Rose Fulbright Canada LLP
On November 8, the Supreme Court of Canada delivered a final ruling on an issue raised by s. 222 of the Excise Tax Act (the ETA): whether the Crown has a personal right of action ...
McCarthy Tétrault LLP
In a 2017 judgment discussed here, the Federal Court of Appeal permitted the CRA to assert a claim against a secured creditor who had received a repayment from its borrower prior to bankruptcy when the borrower...
Cassels Brock
On October 29, 2018, the Government of Canada introduced Bill C-861 (Bill C-86), which, among other things, would amend the Bankruptcy and Insolvency Act2 (the BIA) and the Companies Creditors'
Cox & Palmer
A few years ago, we canvassed the now outdated and antiquated financial assistance (or illicit loan) provisions that remain in the Newfoundland and Labrador Corporations Act (the "Act") ...
Fasken (French)
Le 30 octobre 2018, le gouvernement fédéral a présenté la Loi n° 2 d'exécution du budget de 2018 au Parlement (nous l'appellerons le « projet de loi » pour faciliter la lecture).
Stikeman Elliott LLP
Le 1er mars 2018, la Société d'assurance-dépôts du Canada (la « SADC ») a publié la mise à jour de son document d'orientation intitulé Droits de résiliation de contrats financiers admissibles en situation de règlement de faillite.
Lindsay Kenney LLP
Every entrepreneur facing financial difficulty spends a great deal of their time and energy trying to minimize the costs incurred by their business in an effort to stay operating or maximize the return from a sale of the business' assets.
Torkin Manes LLP
Almost one year ago, in an article entitled "Are Forbearance Agreements on the Endangered Species List? The Effect of Canada v. Callidus Capital on Lender's Dealings with Insolvent Borrowers"...
Bennett Jones LLP
In a unanimous decision issued November 8, 2018, the Supreme Court of Canada granted the appeal of the decision of the Federal Court of Appeal in Canada v Callidus Capital Corp, 2017 FCA 162.
Gardiner Roberts LLP
Callidus Capital has struck back against what some call the evil empire aka CRA.
Davies Ward Phillips & Vineberg
The Supreme Court of Canada (the SCC) has overturned the decision rendered by a majority of the Federal Court of Appeal (the FCA) in Callidus Capital Corporation v Her Majesty the Queen.
Langlois lawyers, LLP
In this matter, the debtor Cheese Factory Road Holdings Inc. ("Cheese Factory") had collected but failed to remit GST/HST to the Crown between 2010 and 2013.
Miller Thomson LLP
The Manitoba Court of Appeal has held that a bankrupt, who had previously unsuccessfully applied to set aside a bankruptcy order on the ground that the creditor seeking bankruptcy...
Blake, Cassels & Graydon LLP
The recent restructuring proceedings of Concordia International Corp. (Concordia) demonstrate that the arrangement provisions of the Canada Business Corporations Act (CBCA) remain as a powerful tool for balance sheet restructurings in Canada.
Goldman Sloan Nash & Haber LLP
There are many similarities between the sale of assets through a bankruptcy sale in the United States under Section 363 of the U.S. Bankruptcy Code and the sale of assets under Canada's Companies'...
Blake, Cassels & Graydon LLP
This is the fourth and final instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders.
Torys LLP
While the interest stops rule has been codified in the Bankruptcy and Insolvency Act2 and the Winding-Up and Restructuring Act ...
Norton Rose Fulbright Canada LLP
The purpose of such a claim is obviously to maximize the value of the debtor's assets for the benefit of its creditors.
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Norton Rose Fulbright Canada LLP
The high (and rising) cost of complex commercial litigation proceedings remains one of the defining features of litigation in Ontario, and across Canada more broadly.
Borden Ladner Gervais LLP
Canada's legal system is based on English common law, applied in nine provinces and three territories; and French civil law ...
Langlois lawyers, LLP
In this matter, the debtor Cheese Factory Road Holdings Inc. ("Cheese Factory") had collected but failed to remit GST/HST to the Crown between 2010 and 2013.
Aird & Berlis LLP
Secured creditors can breathe a sigh of relief. We have received word that the Supreme Court of Canada has allowed the appeal from the bench in Canada v. Callidus Capital Corporation ("Callidus").
Gardiner Roberts LLP
Callidus Capital has struck back against what some call the evil empire aka CRA.
Fasken (French)
Le 30 octobre 2018, le gouvernement fédéral a présenté la Loi n° 2 d'exécution du budget de 2018 au Parlement (nous l'appellerons le « projet de loi » pour faciliter la lecture).
Cox & Palmer
Callidus was a secured creditor of Cheese Factory Road Holdings Inc. Pursuant to a trust agreement, Cheese Factory held all funds received in trust ...
Miller Thomson LLP
In a rare move, the Supreme Court of Canada has allowed the Callidus Capital Corporation appeal from the bench. This appeal involved the priority between secured creditors and the Canada Revenue...
Torkin Manes LLP
Almost one year ago, in an article entitled "Are Forbearance Agreements on the Endangered Species List? The Effect of Canada v. Callidus Capital on Lender's Dealings with Insolvent Borrowers"...
Bennett Jones LLP
Recent decisions of the Court of Queen's Bench of Alberta have put into question the priority of municipal property taxes in insolvency proceedings.
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