Partner and insolvency lawyer Jeremy West acted as counsel for the Petitioner in a recent case, featured in Insolvency Insider, that considered whether preferred shareholders were creditors of the debtor company as opposed to equity claimants for the purposes of the Companies Creditors Arrangement Act. The Court held that the claims of all of its preferred shareholders fell within the ambit of equity claims as defined in s. 2 of the CCAA.
You can read the article here.
You can read the full case here.