Companies' Creditors Arrangement Act

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Doing Business in Canada: Bankruptcy and Insolvency

BANKRUPTCY & INSOLVENCY - In Canada, an “insolvent company” (or “person”) refers to an entity which is not bankrupt and which resides, carries on business or has property in Canada; and which is unable to meet or has...more

The Fish and Wildlife Service Lists the Lesser Prairie-Chicken as a Threatened Species Under the Endangered Species Act

On March 21, 2014, the United States Fish and Wildlife Service (FWS) promulgated a final rule which lists the Lesser Prairie-Chicken (LPC) as a “threatened” species under the Endangered Species Act (ESA). Under the ESA, a...more

Sino-Forest: More Lessons as a Chapter Closes

On March 13, 2014 the Supreme Court of Canada dismissed applications for leave to appeal by a group of alleged former institutional shareholders of Sino-Forest Corporation. These institutions unsuccessfully sought leave to...more

OHSA Charges May Proceed Against Insolvent Company In CCAA Proceedings: Court

Occupational Health and Safety Act charges could proceed against an insolvent company even though it had obtained protection from its creditors under the Companies’ Creditors Arrangement Act (“CCAA”), an Ontario judge has...more

Re: Sino-Forest Corporation – When is an Indemnity Claim Really Just an Equity Claim?

When public companies are accused of accounting irregularities, class action shareholder litigation often follows. The case of Sino-Forest Corporation (“SFC”) is such an example. Weighed down by allegations of accounting...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

Indemnification Claims Under the CCAA A - Caution for Underwriters, Auditors, Directors and Others

Indemnification clauses are often considered a critical component of risk mitigation strategies in legal relationships. However, as is well understood, the value of an indemnification clause, in the event it becomes...more

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