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ARTICLE · 09 APRIL 2012

Fully Secured @ Gowlings - March 28, 2012 - Volume 3, Number 1

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In a recent edition of "Fully Secured" (September 29, 2011 – Volume 2, No. 3), the decision of the Ontario Court of Appeal in "Re Indalex Limited" was discussed, in which the Ontario Court of Appeal held that a statutory deemed trust claim arising out of a pension plan wind-up deficiency ranked in priority to debtor in possession ("DIP") financing.

CanadaEmployment and HR
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Edited by Richard Dusome

In this issue:

  • Update on the Re Indalex Limited Decision
  • Parliament Addresses the Issue of Priority as between Bank Act Security and PPSA Security
  • Limitation Period for "Delayed-Demand" Notes Clarified in British Columbia
  • Alberta: Financial Assistance Disclosure Requirements
  • Spotlight on Security Documents: Assignment of Lease vs. Mortgage of Lease
  • A Banker Asked Us: Can I take Bank Act Security from a Guarantor?

UPDATE ON THE RE INDALEX LIMITED DECISION

By: Jeffrey Oliver (Calgary)

In a recent edition of Fully Secured (September 29, 2011 – Volume 2, No. 3), the decision of the Ontario Court of Appeal in Re Indalex Limited was discussed, in which the Ontario Court of Appeal held that a statutory deemed trust claim arising out of a pension plan wind-up deficiency ranked in priority to debtor in possession ("DIP") financing.

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