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Canada Commercial Bankruptcy

Bennett Jones LLP

Supreme Court of Canada Dismisses Leave-on-Leave in Mantle Materials Group: The Priority of Environmental Obligations Extends...

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In late May, the Supreme Court of Canada (the SCC) denied an application for leave to appeal a decision of the Court of Appeal of Alberta (the ABCA), which, in turn, had denied leave to appeal of the decision of the Court of...more

Eversheds Sutherland (US) LLP

Getting over the starting line: How multi-entity organizational structures can become a barrier to Chapter 15 relief

Chapter 15 of the Bankruptcy Code provides a valuable tool for non-US entities going through foreign insolvency proceedings when they have assets located in the United States. Chapter 15 can protect the value of US assets by...more

Davies Ward Phillips & Vineberg LLP

2023 Business Insolvencies in Canada

As we predicted in earlier issues of Davies Insolvency Now, the year 2023 reflected the anticipated increase in business insolvency activity. In this issue, we perform a comparative review of business insolvencies from 2023,...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

Bennett Jones LLP

Broer v. Multiguide GmbH—Is the Subsequent Conduct of the Parties More Relevant Than You Think in the Context of Shareholder Loans...

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It has long been established that where the circumstances in which funds are advanced by a shareholder to the company in which they own shares is unclear, the court must consider the "surrounding circumstances" when...more

Blake, Cassels & Graydon LLP

Attribution d’un acte à une société : principales différences entre les affaires Aquino et Golden Oaks

Dans notre récente publication intitulée Principaux développements dans la jurisprudence canadienne en matière d’insolvabilité en 2022, nous indiquions que la Cour suprême du Canada (la « CSC ») a accueilli des requêtes en...more

Blake, Cassels & Graydon LLP

Corporate Attribution in Insolvency: Key Differences Between Aquino and Golden Oaks

In our recently published Key Developments in Canadian Insolvency Case Law in 2022, the Supreme Court of Canada (SCC) has granted leave to appeal the decisions of Ernst & Young Inc. v. Aquino (Aquino) and Golden Oaks...more

Blake, Cassels & Graydon LLP

Principaux développements dans la jurisprudence canadienne en matière d’insolvabilité en 2022

En 2022, plusieurs décisions judiciaires d’importance pour les prêteurs commerciaux, les entreprises et les professionnels de l’insolvabilité ont été rendues d’un bout à l’autre du Canada. Le présent rapport résume les faits...more

Blake, Cassels & Graydon LLP

Key Developments in Canadian Insolvency Case Law in 2022

In 2022, several significant judicial decisions were rendered across Canada that are particularly relevant to commercial lenders, businesses and restructuring professionals. This comprehensive report summarizes the key facts...more

Davies Ward Phillips & Vineberg LLP

Rolling Into 2023: Mild Slumps and Jumps in Insolvency Numbers - Davies Insolvency Now, Issue 8

What does a “rolling recession” mean from an insolvency perspective? In this issue of Davies Insolvency Now, we look to the 2022 Q4 data from across Canada for answers. We also set out the court-supervised arrangement...more

Eversheds Sutherland (US) LLP

Fifth Circuit requires Chapter 15 debtor to litigate in Texas state court

It may be fair to say that non-US entities involved in a chapter 15 case, the mechanism through which US courts recognize foreign insolvency proceedings, do not anticipate having to litigate claims raised in the chapter 15...more

Bennett Jones LLP

Ontario Court of Appeal Considers Interpretation of “Creditors or Others” Under the Fraudulent Conveyances

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The Ontario Fraudulent Conveyances Act (the FCA), a concise statute of long-standing that traces its history to an English statute of 1571, is intended to prevent conveyances of property made with the intent to defeat,...more

Stikeman Elliott LLP

Arbitration Agreements May Be “Inoperative” In Face of Insolvency Proceedings, Supreme Court of Canada Holds

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On November 10, 2022, the Supreme Court of Canada (the "SCC") released its long-awaited decision in Peace River Hydro Partners v Petrowest Corp., 2022 SCC 41 (“Peace River”), which addresses the interaction between insolvency...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

Bennett Jones LLP

Entitlement to Production Revenues Between the Effective Date and Closing in Insolvency Vesting Orders

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One of the main benefits to a purchaser who buys oil and gas assets in a proceeding under the Companies' Creditors Arrangement Act or a receivership is the near-absolute quieting of title via a "vesting order." In Manitok...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

Key Developments in Canadian Insolvency Case Law

In 2021, several significant judicial decisions were rendered across Canada relevant to commercial lenders, businesses and restructuring professionals. This comprehensive report summarizes the key facts and core issues of...more

Bennett Jones LLP

Alberta Court of Appeal Confirms Environmental Liabilities Must be Addressed in Priority to Builder

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On March 30, 2022, the Alberta Court of Appeal issued its much anticipated decision in Manitok Energy Inc (Re), 2022 ABCA 117 [Manitok ABCA] which considered whether, as a result of the Supreme Court of Canada's decision in...more

Bennett Jones LLP

Court of Appeal Clarifies Treatment of Asset Retirement Obligations

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On March 25, 2022, the Alberta Court of Appeal issued its decision in PricewaterhouseCoopers Inc v Perpetual Energy Inc, 2022 ABCA 111. Briefly, the Court held that abandonment and reclamation obligations (ARO) of oil and gas...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

Key Developments In Canadian Insolvency Case Law In 2020

In 2020, several significant judicial decisions were rendered across Canada relevant to commercial lenders, businesses and restructuring professionals. This bulletin summarizes the core issues of importance in each case and...more

Bennett Jones LLP

Mind Your Appeal Route: Insolvency Rules Likely to Prevail over Provincial Legislation

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The Court of Appeal for Ontario's decision in Dal Bianco v Deem Management Services Limited, 2020 ONCA 585 [Dal Bianco] is the most recent pronouncement on resolving procedural conflicts between the Bankruptcy and Insolvency...more

Blake, Cassels & Graydon LLP

Blakes Continuity Podcast: What to Expect When Insolvency Crosses the Border

The turbulent COVID-19 economy has put a spotlight on the complex and often delicate insolvency process on both sides of the border. Listen to partners Linc Rogers, Kelly Bourassa and Sébastien Guy on our latest podcast as...more

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