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Creditors Insolvency Canada

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

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

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

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

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

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

Blake, Cassels & Graydon LLP

Un débiteur en vertu de la LACC doit payer le loyer post-dépôt pour l’« utilisation » des lieux loués

Depuis le début de la pandémie de COVID-19, les sociétés insolvables ont sollicité l’intervention des tribunaux relativement au paiement du loyer pendant les périodes de confinement. Dans la plus récente décision portant sur...more

Blake, Cassels & Graydon LLP

CCAA Debtor Must Pay Post-Filing Rent for the “Use” of Leased Premises

Since the beginning of the COVID-19 pandemic, insolvent companies have sought court intervention relating to the payment of rent during lockdown periods. In the most recent decision on this issue, the Quebec Superior Court...more

Blake, Cassels & Graydon LLP

AllSaints USA Limited: English Company Voluntary Arrangement Recognized for the First Time in Canada

The Ontario Superior Court of Justice (Canadian Court) recently recognized, for the first time, an English company voluntary arrangement (CVA) proceeding commenced pursuant to the UK Insolvency Act 1986 (Insolvency Act). ...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

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Canada

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

Bennett Jones LLP

The New Duty of Good Faith in Canadian Insolvency Proceedings

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Canada’s two main insolvency and restructuring statutes, the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA) were recently amended to include a new duty of good faith on the part of all...more

Bennett Jones LLP

Supreme Court to Consider Enforceability of Consequences Imposed Upon Insolvency

Bennett Jones LLP on

The Supreme Court of Canada recently granted leave to appeal from the Alberta Court of Appeal's decision in Capital Steel Inc v Chandos Construction Ltd, 2019 ABCA 32. The case addresses the enforceability of clauses that...more

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