The Ontario Court of Appeal (OCA) has closed the door on the application of equitable subordination in Companies’ Creditors Arrangement Act (CCAA) proceedings. In U.S. Steel Canada Inc. (Re), the OCA clarified the scope of...more
I had an occasion recently to compare the preference laws of the US and Canada in a cross-border matter, and wanted to share the attached compendium comparing the insolvency laws of the U.S., Canada and Mexico, Insolvency...more
On February 29, 2016, the Ontario Superior Court of Justice released a decision in the ongoing insolvency proceeding of U. S. Steel Canada Inc. (USSC). Two principal issues were addressed by the Court. First, whether amounts...more
Factoring transactions, in which a buyer purchases outright or acquires an interest in a seller’s accounts receivable, are becoming increasingly common. Initially, the buyer must determine whether the transaction is to be...more