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ARTICLE · 27 FEBRUARY 2025

Fasken's 2024 Insolvency Insights

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Economic challenges continued to strain businesses across sectors and industries, leading to an increase in corporate insolvency filings and resulting in the highest volume of business insolvencies since 2010.

CanadaInsolvency/Bankruptcy/Re-Structuring
Jessica Cameron
Jessica Cameron
Lisa Hiebert
Lisa Hiebert
Stuart Brotman
Stuart Brotman
Robyn Gurofsky
Robyn Gurofsky
Haroon Laher
Haroon Laher
Marc-André Morin
Marc-André Morin
Luc Béliveau
Luc Béliveau
Kibben Jackson
Kibben Jackson
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Case Trends

Economic challenges continued to strain businesses across sectors and industries, leading to an increase in corporate insolvency filings and resulting in the highest volume of business insolvencies since 2010. This resulted in a number of developments in insolvency across a range of topics, including addressing legal doctrines (corporate attribution and marshalling), dealing with environmental liabilities, further developments regarding reverse vesting orders, and others. A summary of these cases, as well as other interesting insolvency cases identified by Fasken's National Insolvency & Restructuring Group, is below.

Legislative Update

Through the Financial Protection for Fresh Fruit and Vegetable Farmers Act, unpaid suppliers of perishable fruits and vegetables will now have a deemed trust in insolvency proceedings, having received Royal Assent on December 12, 2024. Additionally, while not a legislative development per se, the Office of the

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