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Bennett Jones LLP

In Dealing with Fraudulent Conveyances—The Rebuttable Presumption of Fraudulent Intent—IE CA 3 Holdings Ltd. v NYDIG ABL LLC, 2024...

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A requirement of proving a fraudulent conveyance occurred is establishing that the conveyance was fraudulently intended. Courts in British Columbia will rely on the presence of ‘badges of fraud’, such as whether the...more

Blake, Cassels & Graydon LLP

Groupe Nygård : Examen approfondi du regroupement de patrimoines dans le cadre de procédures d’insolvabilité au Canada

Dans le contexte en constante évolution des lois canadiennes en matière d’insolvabilité, le regroupement de patrimoines se révèle comme un recours puissant. Bien qu’il soit rarement utilisé, il est susceptible d’entraîner des...more

Blake, Cassels & Graydon LLP

Nygård’s Impact: A Deep Dive into Substantive Consolidation in Canadian Insolvency Cases

In the ever-changing landscape of Canadian insolvency law, substantive consolidation emerges as a powerful yet rare remedy with substantial implications for debtor entities and their creditors, as highlighted by a recent...more

Blake, Cassels & Graydon LLP

Guide pour gérer l’insolvabilité de clients et de fournisseurs

Les cas d’insolvabilité commerciale devraient continuer d’augmenter à court terme en raison de la hausse des taux d’intérêt, des perturbations dans les chaînes d’approvisionnement et de l’augmentation conséquente du coût des...more

Blake, Cassels & Graydon LLP

Attribution d’un acte à une société dans un contexte d’insolvabilité : développements récents dans les affaires Aquino et Golden...

Introduction - La Cour suprême du Canada (la « CSC ») a accueilli les requêtes en autorisation d’appel visant les décisions Ernst & Young Inc. v. Aquino (l’« affaire Aquino ») et Golden Oaks Enterprises Inc. v. Scott (l’«...more

Blake, Cassels & Graydon LLP

Corporate Attribution in Insolvency: Recent Developments in Aquino and Golden Oaks

Introduction The Supreme Court of Canada (SCC) has granted leave to appeal the decisions of Ernst & Young Inc. v. Aquino (Aquino) and Golden Oaks Enterprises Inc. v. Scott (Golden Oaks), which both address the corporate...more

Blake, Cassels & Graydon LLP

Third-Party Insolvency Proceedings: Six Tips for General Counsel

Commercial insolvencies are expected to steadily increase in the near-term due to higher interest rates, supply chain disruption and corresponding increased commodity costs. A rise in commercial insolvencies will increase the...more

Bennett Jones LLP

Show Me the Money! British Columbia’s Money Judgement Enforcement Act

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A legal system cannot adequately function without providing an effective mechanism for litigants to acquire their monetary judgements. The legislative methods employed in British Columbia to enforce money judgements have been...more

Blake, Cassels & Graydon LLP

Fiducies d’instance et financement des litiges : un tribunal d’Alberta définit les critères d’approbation

La Cour du Banc du Roi de l’Alberta (la « Cour ») a récemment rendu sa décision dans l’affaire Goldenkey Oil Inc. (Re) qui portait sur l’approbation d’une « fiducie d’instance » (en anglais, litigation trust) et d’un projet...more

Blake, Cassels & Graydon LLP

Prove It or Lose It: Alberta Court Provides Guidance on Evidence Required for Approval of Litigation Trusts and Litigation...

Goldenkey Oil Inc. (Re) is a recent decision of the Court of King’s Bench of Alberta (Court) about litigation trusts and litigation financing. In that case, Justice Michael J. Lema concluded that when an insolvent company...more

Dickinson Wright

Lawyers and Business Owners Beware! New Decision Threatens to Make Asset Protection More Difficult

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Business owners often use a strategy to protect their assets from potential creditors seeking to realize on their debts. To protect themselves, business owners can transfer ownership of property to family members or create...more

Bennett Jones LLP

Is Pricing All That Matters When Borrowing?

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For many borrowers, pricing is the most significant factor when deciding on a lender. If you are borrowing from a mid-market lender (MML), it is more than likely that the deal will be papered on that MML's standard form...more

Blake, Cassels & Graydon LLP

La Cour suprême du Canada clarifie l’application des clauses d’arbitrage en matière d’insolvabilité

Dans le cadre de sa récente décision Peace River Hydro Partners c. Petrowest Corp., 2022 CSC 41 (l’« affaire Peace River »), la Cour suprême du Canada (la « CSC ») a précisé les circonstances dans lesquelles une convention...more

Davies Ward Phillips & Vineberg LLP

Financial Gloom and the Increase in Insolvency Filings - Davies Insolvency Now, Issue 7

In this issue of Davies Insolvency Now, we highlight the significant data points in rising insolvency filing rates and provide a Canadian lens on the digital asset marketplace. With recent drops in crypto prices severely...more

Blake, Cassels & Graydon LLP

Supreme Court of Canada Clarifies Application of Arbitration Clauses in Insolvency

In the recent case of Peace River Hydro Partners v. Petrowest Corp., 2022 SCC 41 (Peace River), the Supreme Court of Canada (the SCC) clarified the circumstances in which an otherwise valid arbitration agreement may be held...more

Bennett Jones LLP

The Supreme Court of Canada Rules on Intersection of Insolvency and Arbitration Law

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On November 10, 2022, the Supreme Court of Canada (SCC) issued its much-anticipated decision in Peace River Hydro Partners v Petrowest Corp, 2022 SCC 41, addressing a key intersection of insolvency and arbitration law—whether...more

Blake, Cassels & Graydon LLP

Overview of the Companies’ Creditors Arrangement Act

1.0 Introduction - The Companies’ Creditors Arrangement Act (CCAA) is the principal statute for the reorganization of a large insolvent corporation. The CCAA can also facilitate the sale of an insolvent business. As a...more

Blake, Cassels & Graydon LLP

Chapter 11 and CCAA: A Cross-Border Comparison

Chapter 11 and CCAA - A Cross-Border Comparison - A Comparison of the Key Differences Between Chapter 11 of the U.S. Bankruptcy Code and the Companies’ Creditors Arrangement Act. ...more

Stikeman Elliott LLP

Concern About Foreign Corruption Allegations Insufficient to Relieve Canadian Company of Debt Obligation to Its Indian...

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In Kirloskar Technologies (P) Ltd. v. Best Theratronics Ltd., 2022 ONCA 331 the Ontario Court of Appeal affirmed that the perceived risk of criminal prosecution under Canadian corruption of foreign public officials...more

Bennett Jones LLP

Court of Appeal Refines the Corporate Attribution Doctrine

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The corporate attribution doctrine concerns the attribution of the actions of a corporation’s directing mind to the corporation itself.  On March 10, 2022, in Ernst & Young Inc. v. Aquino [Aquino], the Court of Appeal...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Canada (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER CANADIAN LAW - 1. Canada's Political and Legal System - Canada has a Federal constitution that was significantly overhauled in the early 1980's,...more

Blake, Cassels & Graydon LLP

La CSC confirme la discrétion du tribunal de suspendre le droit d’exercer compensation pré-post en vertu de la LACC

Le 10 décembre 2021, la Cour suprême du Canada (la « CSC ») a rendu sa décision dans l’affaire Montréal (Ville) c. Restructuration Deloitte Inc. (l’« affaire Groupe SM ») concernant les procédures déposées en vertu de la LACC...more

Blake, Cassels & Graydon LLP

Supreme Court of Canada confirms CCAA Court's discretion to stay Pre-Post Set-off/Compensation

On December 10, 2021, the Supreme Court of Canada (SCC) released its decision in Montréal (City) v. Deloitte Restructuring Inc. (In the matter of the CCAA Proceedings of Le Groupe SM et al) (Groupe SM), providing clarity...more

Blake, Cassels & Graydon LLP

Media5 Corporation : La marche à suivre pour la nomination d’un séquestre en vertu de la LFI confirmée

Le 1er avril 2021, la Cour suprême du Canada a rejeté la demande d’autorisation d’appel de la décision de la Cour d’appel du Québec dans l’affaire Séquestre de Media5 Corporation, 2020 QCCA 943. Par conséquent, les tribunaux...more

Blake, Cassels & Graydon LLP

Media5 Corporation: The Course of Action to Appoint a Receiver Finally Confirmed

On April 1st, 2021, the Supreme Court of Canada dismissed the application for leave to appeal the decision of the Court of Appeal of Québec in Séquestre de Media5 Corporation, 2020 QCCA 943. As a result, Quebec courts now...more

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