Canada: Insolvency/Bankruptcy

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Insolvency law and bankruptcy law articles, thought leadership, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics surrounding financial restructuring, insolvency and bankruptcy.
Article
Vesting Order Bars Claims For Unpaid Crown Royalties
In two companion decisions - Alberta (Energy and Minerals) v Spartan Delta Corp, 2026 ABCA 214 (the Spartan Decision) and Alberta (Energy and Minerals) v Canadian Natural Resources Limited, 2026 ABCA 213 (the CNRL Decision) -  the Court clarified that co-lessees are subject to joint liability for Crown royalties, not joint and several liability, under Alberta's Mines and Minerals Act, RSA 2000, c M-17.
Canada Energy
BJ
Bennett Jones LLP
Article
Ready Player Three: Alberta Court Of Appeal Recognizes Equity Investor Standing To Initiate CCAA Proceedings
In its recent decision in Angus A2A GP Inc v Alvarez & Marsal Canada Inc (“Angus A2A”),[1] the Alberta Court of Appeal upheld an “unusual” set of proceedings under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”) initiated by equity investors rather than the debtor companies themselves or creditors. The principal issue before the Court was whether such investors could qualify as “interested persons” capable of commencing CCAA proceedings.
Canada Insolvency
F
Fasken
Article
Alberta Court Of Appeal Confirms Equity Investors May Initiate CCAA Proceedings, Broadening Standing And Reshaping Strategy For Stakeholders.
In its recent decision in Angus A2A GP Inc v Alvarez & Marsal Canada Inc (“Angus A2A”),[1] the Alberta Court of Appeal upheld an “unusual” set of proceedings under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”) initiated by equity investors rather than the debtor companies themselves or creditors. The principal issue before the Court was whether such investors could qualify as “interested persons” capable of commencing CCAA proceedings and, more broadly, whether the proceedings were consistent with the underlying purposes of the CCAA.
Canada Insolvency
F
Fasken
Article
The CCAA’s Reach Expands: Equity Investors, Foreign Companies And Solvent Companies
Can equity investors commence proceedings under the Companies’ Creditors Arrangement Act (CCAA)? Can CCAA relief extend to foreign companies with no business or assets in Canada? Can CCAA relief be granted against entities that are not insolvent? In a precedent-setting decision released on May 11, 2026, the Alberta Court of Appeal held, yes, yes and yes (in appropriate circumstances).
Canada Commercial
BC
Blake, Cassels & Graydon LLP
Article
5-Year Retrospective: Insolvency & Restructuring
A comprehensive analysis examines the transformative period of insolvency and restructuring law between 2021 and 2025, revealing how doctrinal consolidation has reshaped the landscape in ways not seen since the 2009 statutory reforms. The authors explore critical lessons for legal practitioners and business clients about the importance of early evidentiary preparation and strategic stakeholder management in determining restructuring outcomes.
Canada Insolvency
LS
Lenczner Slaght LLP
Article
From Recognition To Recovery: Appointment Of Receiver For Centralized Asset Recovery Process In Cross-Border Insolvency Proceedings
The Alberta Court of King's Bench recently appointed a receiver to facilitate foreign liquidators running a claims process to recover funds from "net winners" of a Ponzi-type scheme located in several different provinces in Canada. This decision illustrates a powerful tool available in cross-border insolvency proceedings to recover assets located in Canada, particularly where assets are held by individuals in multiple provinces and recovery may involve determination of common issues.
Canada Insolvency
MT
McCarthy Tétrault LLP
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