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ARTICLE · 24 APRIL 2026

Canadian Insolvency: Key Developments And Emerging Trends

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Several significant judicial decisions were released in 2025 that remain relevant to businesses, commercial lenders and restructuring professionals. This bulletin summarizes the key developments of 2025 and highlights areas of significance for restructuring professionals and market participants to monitor in 2026.

CanadaInsolvency/Bankruptcy/Re-Structuring
Caitlin McIntyre
Caitlin McIntyre
Linc Rogers
Linc Rogers
Milly Chow
Milly Chow
Kelly Bourassa
Kelly Bourassa
Kyla Morreau
Kyla Morreau
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Several significant judicial decisions were released in 2025 that remain relevant to businesses, commercial lenders and restructuring professionals. This bulletin summarizes the key developments of 2025 and highlights areas of significance for restructuring professionals and market participants to monitor in 2026.

1. Hudson’s Bay Company and Assignment of Contracts

North America’s oldest corporation, the Hudson’s Bay Company (HBC), filed for protection under the Companies’ Creditors Arrangement Act (CCAA) before the Ontario Superior Court of Justice (ONSC). After an expedited sale and investment solicitation process failed to identify a going-concern solution for the company’s business, a full liquidation of HBC’s inventory commenced. Against this backdrop, the proceedings gave rise to a number of important decisions. By far the most significant was the ONSC’s decision concerning the proposed assignment of 25 leases to a prospective purchaser seeking to launch a new department store

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