Articles 2022

Aujourdʼhui
Aujourdʼhui

Check Your Numbers Twice: Receiver and Its Counsel Denied Their Inadvertently-Omitted Fees and Disbursements

  • 15 décembre 2020
  • Jeremy Nemers, Aird & Berlis LLP

In what can only be described as a bitter pill to swallow for the professionals involved, the Ontario Superior Court of Justice in Duca Financial Services Credit Union Ltd. v. 2203284 Ontario Inc. has refused to approve the inadvertently-omitted fees and disbursements of its own receiver and receiver’s legal counsel, notwithstanding the highly unusual outcome that all other creditors had already been paid in full (thanks, ironically, in part to the efforts of the very receiver in question).

Droit de l’insolvabilité, Student Forum

Canada: Supreme Court of Canada Clarifies the Place of the Anti-Deprivation Rule in Canadian Insolvency Proceedings

  • 09 novembre 2020
  • Michael Nowina

In Chandos Construction Ltd. v. Deloitte Restructuring Inc., a decision released on October 2, 2020, the Supreme Court of Canada affirmed the anti-deprivation rule in the common law of Canada. The dispute in this case revolved around a construction contract between Chandos Construction Ltd. and Capital Steel Inc. that included a clause which provided a fee of 10% of the contract price for the inconvenience and for monitoring the work in the event of Capital Steel’s bankruptcy.

Droit de l’insolvabilité, Student Forum

Construction Trusts Can Apply to Funds Received by CCAA Monitor: the Court of Appeal’s Decision in Urbancorp

  • 16 juillet 2020
  • Laura Brazil, Stephen Brown-Okruhlik and Matti Thurlin

In a recent decision in Urbancorp Cumberland 2 GP Inc. (Re) (“Urbancorp”), the Court of Appeal held that statutory trusts can arise under the Construction Act over sale proceeds received by a court officer in a court-supervised sale process under the Companies’ Creditors Arrangement Act (“CCAA”). The decision also limited the application of the Court of Appeal’s earlier decision in Re Veltri Metal Products Co.

Droit de l’insolvabilité, Student Forum
Jon Wigley

Celebrating the Late Jonathan Wigley, OBA Murray Klein Award for Excellence in Insolvency Law Recipient

  • 18 juin 2020

The 2020 OBA Murray Klein Award for Excellence in Insolvency Law winner, Jon Wigley, a partner at Gardiner Roberts LLP, was a credit to the profession – a stellar lawyer, model of integrity and generous mentor. Sadly, Jon passed away before he could receive this honour. In this Q&A, two of Jon’s long-time friends and colleagues offer insight into why he was so highly regarded within the legal community and how his legacy will live on in those who benefitted from his sage advice and fine example.

Droit de l’insolvabilité, Student Forum

Where the Restructuring Meets the Road: the Intersection Between Insolvency Proceedings and Construction Law

  • 06 avril 2020
  • Jeffrey Levine, Nicole Rozario

This article considers three key issues at the intersection of construction and insolvency law: (1) the “stay of proceedings;” (2) the operation of the Construction Act trust provisions in an insolvency context; and (3) the treatment of suppliers critical to the restructuring of a construction business.

Droit de l’insolvabilité, Student Forum

Lessons from Norcon: Private Receivers as an Adequate Alternative Avenue of Relief to Court-Appointed Receivers

  • 25 février 2020
  • Puya Fesharaki and Stephanie Sonawane, Thornton Grout Finnigan LLP

The recent decision in Norcon Marine Services Ltd., (Re), 2019 NLSC 238 (“Norcon”) may have important implications beyond Newfoundland and Labrador. In Norcon, the Court denied an application for a Court-appointed receivership on the basis that the applicant did not demonstrate that a Court-supervised process was “necessary”. In so deciding, among other reasons, the Court put an emphasis on the availability of a private receivership as an adequate alternative avenue of relief.

Droit de l’insolvabilité, Student Forum