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Searching Content indexed under Accounting and Audit by Aird & Berlis LLP ordered by Published Date Descending.
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Indalex: The Ontario Court Of Appeal Extrudes The CCAA
As most are aware by now, the Ontario Court of Appeal (the "OCA") recently caused alarm by finding that claims of pension plan beneficiaries ranked higher than the super-priority debtor-in-possession financing charge (the "DIP Charge") created by the amended initial order (the "CCAA Order") in the Companies’ Creditors Arrangement Act (the "CCAA") proceedings of the Indalex group of Canadian companies (collectively, "Indalex").
Canada
28 Jun 2011
2
Fraudulent Conveyances/Preferences And Limitation Periods
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.
Canada
28 Jun 2011
3
The Sale Of Assets By A Receiver: A Cautionary Tale
The case of Canrock Ventures LLC v. Ambercore Software Inc. et al is a cautionary tale for a Receiver and its counsel alike.
Canada
 
21 Apr 2011
4
No Crown Super-Priority For HST In CCAA Proceedings
In its recent decision in Century Services Inc. v. Canada, the Supreme Court of Canada (the "SCC") held that, in the context of a Companies’ Creditors Arrangement Act (the "CCAA") proceeding, the Crown does not have a superpriority claim over the property of a debtor for unremitted goods and services tax ("GST") amounts.
Canada
21 Apr 2011
5
Update on Bill S-216: An Act to Amend the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act in Order to Protect Beneficiaries of Long Term Disability Benefits Plans
On March 25, 2010, Toronto Senator Art Eggleton tabled Bill S-216 which, if proclaimed in force, would amend the Bankruptcy and Insolvency Act (the "BIA") and the Companies’ Creditors Arrangement Act (the "CCAA") to protect employees on long-term disability ("LTD") by granting super priority status to long term disability benefits and health related benefits that are to be paid to disability plan beneficiaries in the context of insolvency proceedings.
Canada
 
17 Oct 2010
6
Update on Bill C-501: An Act to Amend the Bankruptcy and Insolvency Act and Other Acts (Pension Protection)
In the midst of the ongoing restructurings of Nortel and AbitibiBowater, New Democrat Member of Parliament John Rafferty (Thunder Bay – Rainy River) introduced a bill to amend the Bankruptcy and Insolvency Act (the "BIA") and the Companies’ Creditors Arrangement Act (the "CCAA") with the goal of better protecting employees’ interests in the context of formal insolvency proceedings.
Canada
 
17 Oct 2010
7
Creditor Initiated CCAA Proceedings
The Companies’ Creditors Arrangement Act ("CCAA"), allows companies with at least $5 million of debt to restructure their financial affairs so that they may become productive again.
Canada
2 Dec 2009
8
Cross-Border Guarantees
The issue of the appropriateness of Canadian subsidiaries guaranteeing obligations of affiliated U.S. entities in insolvency situations has recently received significant comment in the Ontario Superior Court of Justice.
Canada
11 Jun 2009
9
Commercial Fishing Licences: Chargeable Intangible Property
A recent decision released by the Supreme Court of Canada (the "SCC"), Saulnier v. Royal Bank of Canada, 2008 SCC 58 (S.C.C.), revisited an important question to lenders and creditors: whether a commercial fishing licence constitutes personal property chargeable by a general security agreement and property available to a trustee in bankruptcy.
Canada
21 Jan 2009
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