Mondaq Canada: Insolvency/Bankruptcy, Re-structuring
A discussion on the Supreme Court of Canada decision on the priority given to pension fund deficiencies, in the context of an insolvency.
On February 1, 2013, the Supreme Court overturned a controversial decision of the Ontario Court of Appeal which granted pension beneficiaries priority over DIP lenders in the context of a restructuring under the Companies’ Creditors Arrangement Act ("CCAA").
Morris Kaiser’s trustee in bankruptcy, Soberman Inc., thought it smelled a rat: while claiming to be impecunious, Kaiser appeared to be living a life of ‘some means’, which included trips to casinos in the US.
The meltdown of the world economy from early 2007 through the end of 2011 and which is still ongoing is unparalleled.
Domenico Magisano, Commercial Litigation Partner at Lerners LLP, discusses generally what happens when a company is insolvent and how restructuring tools can be used to help companies emerge from insolvency stronger.
Parties may need to proceed cautiously in enforcing contractual rights and remedies in circumstances where there is a risk of the counterparty subsequently becoming insolvent.
The Supreme Court of Canada’s decision in Sun Indalex Finance, LLC v United Steelworkers, 2013 SCC 6, has a number of implications for employers, pension plan administrators, as well as both secured and unsecured creditors.
In October 2012, The Futura Loyalty Group Inc. commenced proceedings under the Companies’ Creditors Arrangement Act.
On February 1, the Supreme Court of Canada released its long-awaited decision in Sun Indalex Finance, LLC v. United Steel Workers.
An analysis of the recent Indalex decision.
The Supreme Court of Canada has recently released its much-awaited decision in the Indalex case.
The Supreme Court of Canada’s decision in the case of Re Indalex Ltd. does not, as one national newspaper put it place "creditors before pensioners".
Swaps market participants accepting cash collateral from an entity subject to Ontario provincial pension benefits legislation will want to consider the implications of this decision on their priority.
The Supreme Court of Canada has recently released its highly anticipated decision in Indalex Limited.
On February 1, 2013, the Supreme Court of Canada released its decision in Sun Indalex Finance, LLC v. United Steelworkers.
Give This Post Superpriority – Supreme Court Decides Sun Indalex Finance, LLC v. United Steelworkers
A discussion on the much-anticipated Supreme Court decision in Sun Indalex Finance.
The Supreme Court of Canada’s decision in (Re) Indalex has changed the landscape for both lenders and borrowers in Canada who sponsor registered defined benefit pension plans.
A discussion on the Supreme Court recent judgment in the a case of interest to Canadian businesses and professions.
A summary of a number of rulings made by the Supreme Court of Canada, which are of significance for lenders, employers and pension plan administrators of Ontario-registered defined benefit pension plans.
The Supreme Court of Canada has recently released its highly anticipated decision in Indalex Limited.
A discussion on the Supreme Court of Canada decision on the priority given to pension fund deficiencies, in the context of an insolvency.
During the past 14 months, courts in Ontario have rendered three decisions dealing with the application of limitation periods to claims for fraudulent conveyances or preferences.
When a company winds up, begins restructuring proceedings or goes bankrupt, a debtor or creditor may be able to cancel out the amount payable to the other party by using the remedy of "set‐off".
The British Columbia Court of Appeal’s decision in "Abakhan & Associates Inc. v. Braydon" is of signal import to the insolvency bar and trustees. Leave to appeal to the Supreme Court of Canada has been denied (McLachlin C.J., Abella and Cromwell JJ.).
The Supreme Court of Canada has recently released its highly anticipated decision in Indalex Limited.
Domenico Magisano, Commercial Litigation Partner at Lerners LLP, discusses generally what happens when a company is insolvent and how restructuring tools can be used to help companies emerge from insolvency stronger.
The case of Canrock Ventures LLC v. Ambercore Software Inc. et
al is a cautionary tale for a Receiver and its counsel alike.
With the reduction of trade barriers and the introduction of open borders pursuant to bilateral and international agreements such as the North American Free Trade Agreement, there has been a steady increase in the cross-border commerce between Canada and the United States.
An analysis of the recent Indalex decision.
On February 1, the Supreme Court of Canada released its long-awaited decision in Sun Indalex Finance, LLC v. United Steel Workers.
Companies restructuring under the Companies’ Creditors Arrangement Act ("CCAA") depend on a supply of critical products and services in order to continue operations during the proceedings.
Morris Kaiser’s trustee in bankruptcy, Soberman Inc., thought it smelled a rat: while claiming to be impecunious, Kaiser appeared to be living a life of ‘some means’, which included trips to casinos in the US.
The meltdown of the world economy from early 2007 through the end of 2011 and which is still ongoing is unparalleled.
On February 1, 2013, the Supreme Court overturned a controversial decision of the Ontario Court of Appeal which granted pension beneficiaries priority over DIP lenders in the context of a restructuring under the Companies’ Creditors Arrangement Act ("CCAA").
The Supreme Court of Canada (the "SCC") recently released an important decision relating to how provincial clean up orders against corporations may be treated.
On February 1, 2013 the Supreme Court of Canada released its long awaited decision in "Sun Indalex Finance, LLC v. United Steelworkers".
Swaps market participants accepting cash collateral from an entity subject to Ontario provincial pension benefits legislation will want to consider the implications of this decision on their priority.
The Supreme Court of Canada has recently released its much-awaited decision in the Indalex case.
On February 1, 2013, the Supreme Court of Canada released its decision in Sun Indalex Finance, LLC v. United Steelworkers.
The Supreme Court of Canada has recently released its highly anticipated decision in Indalex Limited.
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On February 1, 2013, the Supreme Court overturned a controversial decision of the Ontario Court of Appeal which granted pension beneficiaries priority over DIP lenders in the context of a restructuring under the Companies’ Creditors Arrangement Act ("CCAA").
A discussion on the Supreme Court of Canada decision on the priority given to pension fund deficiencies, in the context of an insolvency.
The insolvent metal processing company, Timminco, is attempting a new twist to "cleanse" creditors of environmental claims through insolvency law.
If the purchaser or lessee is in arrears in making payment to the manufacturer or lessor, the manufacturer or lessor may refuse to supply the debtor with the new access code.
Morris Kaiser’s trustee in bankruptcy, Soberman Inc., thought it smelled a rat: while claiming to be impecunious, Kaiser appeared to be living a life of ‘some means’, which included trips to casinos in the US.
An analysis of the recent Indalex decision.
The meltdown of the world economy from early 2007 through the end of 2011 and which is still ongoing is unparalleled.
This decision is significant for its discussion of the independence of expert witnesses and whether a lack of independence goes to the issue of the weight to be afforded to that evidence, or, conversely, its admissibility.
In Boughner v Greyhawk Equity Partners Ltd.,1 the Ontario Superior Court of Justice recently clarified the preferable method for distributing money out of a fund comprised of comingled cash contributed by many innocent investors who were victims of a fraudulent investment scheme.
Domenico Magisano, Commercial Litigation Partner at Lerners LLP, discusses generally what happens when a company is insolvent and how restructuring tools can be used to help companies emerge from insolvency stronger.
