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Canada Receivership

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

Bennett Jones LLP

Redwater Reigns: SKCA Affirms Redwater's Applicability After Failed CCAA

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The Saskatchewan Court of Appeal has confirmed that the Supreme Court of Canada’s decision in Orphan Well Association v. Grant Thornton Ltd., 2019 SCC 5 [Redwater], applies in Saskatchewan.  The Court of Appeal also affirmed...more

Bennett Jones LLP

Saskatchewan Court of King's Bench Rejects Rural Municipality's Attempts to Elevate Priority in Receivership

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The Court of King's Bench for Saskatchewan has rejected another attempt by a rural municipality to gain priority in an oil and gas receivership. This follows the recent Alberta Decision in Orphan Well Association v Trident...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

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

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

Bennett Jones LLP

Can an Insolvency Court Extinguish Interests in Land Through Vesting Orders?

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The Ontario Court of Appeal recently released the second of two highly anticipated decisions stemming from the receivership proceedings of Dianor Resources Inc. The first decision clarified the test used to determine when a...more

Bennett Jones LLP

Not Just Linear Property Tax Priorities: Alberta Court of Appeal on Abuse of Process and Mootness

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In a recent Bennett Jones Update—Property Tax Priorities in Alberta Insolvency Proceedings: Current Uncertainty—we discussed three recent decisions of the Court of Queen's Bench of Alberta that had addressed the question of...more

Bennett Jones LLP

A Producing Royalty as an Interest in Land: The Alberta Court of Queen's Bench Follows Dianor

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Holders of royalties in oil and gas and other minerals should take note of the recent decision of the Alberta Court of Queen's Bench in Manitok Energy Inc. (Re), 2018 ABQB 488 [Manitok], in which the Alberta Court followed...more

Blake, Cassels & Graydon LLP

AER Revises Eligibility Requirements for Acquiring and Holding Energy Licences and Approvals

On December 6, 2017, the Alberta Energy Regulator (AER) released a new edition of Directive 067 (New Directive), dealing with the eligibility requirements for acquiring and holding energy licences and approvals in Alberta....more

Bennett Jones LLP

Recent Case Offers Insight Into the Protection of Security Interests

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The failure to perfect a security interest could result in losing property rights altogether despite being the unqualified owner of the property. A very recent example of this is the case of Wells Fargo Foothill Canada ULC v...more

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