Canada:
Supreme Court Will Hear Appeal In Indalex Canada Pension Priority Case
08 December 2011
Goodmans LLP
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The Supreme Court of Canada today granted an application brought
by Goodmans on behalf of Sun Indalex Finance, LLC for leave to
appeal from the Ontario Court of Appeal's decision released in
April of this year. At issue is whether the Court of Appeal erred
when it granted priority after the fact in favour of two groups of
pensioners ahead of a Court ordered super-priority
debtor-in-possession financing charge that had been approved by the
Court handling Indalex Canada's restructuring under the
Companies' Creditors Arrangement Act.
The content of this article does not constitute legal advice
and should not be relied on in that way. Specific advice should be
sought about your specific circumstances.
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