Articles 2024

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

  • February 25, 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.

Insolvency Law, Student Forum

A Primer on Insolvency for Labour and Employment Lawyers

  • February 03, 2020
  • Danny Nunes, DLA Piper

This article provides a brief primer on some of the employment and labour law issues that come into consideration when a company is involved in insolvency proceedings.

Insolvency Law, Labour and Employment Law, Student Forum

Ontario Court of Appeal Provides Guidance on Vesting Orders in Receivership – and Beyond

  • November 04, 2019
  • Kathryn Esaw and Miranda Spence

In light of the critical importance of vesting orders, Canadian insolvency and banking professionals were understandably anxious when the Ontario Court of Appeal recently asked for submissions on whether receivership vesting orders can extinguish third party interests in land in the nature of a Gross Overriding Royalty.

Insolvency Law, Student Forum

The Guarantee Company of North America v. Royal Bank of Canada: return (or revenge?) of the statutory lien trust

  • January 22, 2019
  • R. Brendan Bissell

In the Star Wars movies, there are points where the Jedi seem to have wiped out the Sith (or vice versa) only to find out that the other has come back to life. Stakeholders, lawyers and insolvency professionals who had seen, or hoped for, the end of the statutory construction lien trust after bankruptcy might be forgiven for feeling like that after January's Court of Appeal for Ontario decision in The Guarantee Company of North America v. Royal Bank of Canada.

Insolvency Law, Construction and Infrastructure Law, Student Forum

Bitcoin and Bankruptcy: Implications for Canadian Insolvency Law

  • December 17, 2018
  • Adam Driedger

Cryptocurrencies have gained considerable momentum in Canada and may ultimately mature into a mainstream asset class.3 Accordingly, policymakers ought to consider the implications of Bitcoin and other cryptocurrencies on the Canadian insolvency regime. There is no Canadian jurisprudence or guiding principles dealing directly with cryptocurrencies. However, this paper examines recent American case law, and highlights some of the key issues relevant to insolvency law in Canada.

Insolvency Law, Business Law, Student Forum

When the Polluter Doesn’t Pay: A Critical Review of Redwater and its Implications

  • June 07, 2018
  • Nicholas Avis

The winning entry for the 2018 Michael MacNaughton Student Writing Award for Insolvency Law, the article considers the controversial decision of the Alberta Court of Appeal affirming the decision in Redwater Energy Corporation (Re) (2016), 33 Alta LR (6th) 221 (Alta QB).

Environmental Law, Insolvency Law, Student Forum
What Would Churchill Do?

What Would Churchill Do?

  • May 18, 2018
  • Edward Olkovich

Creative abstraction can enable problem-solvers to move beyond stated positions and assumptions by using more than just the power of logic and persuasion as the primary means of conflict resolution in order to uncover the underlying interests, fears and concerns of the parties.

Alternative Dispute Resolution, Insolvency Law, Student Forum

Early Termination Fees and Section 244 of the Bankruptcy and Insolvency Act

  • May 12, 2017
  • Lisa Corne

Early termination fees, or make whole payments, as they are sometimes called, are an integral part of the overall economic arrangement negotiated by lenders. Therefore, lawyers advising secured lenders on strategies for recovery of their indebtedness should be aware that certain seemingly innocuous actions may jeopardize a lender’s entitlement to recover an early termination fee.

Insolvency Law