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ARTICLE · 19 FEBRUARY 2021

Key Developments In Canadian Insolvency Case Law In 2020

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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In 2020, several significant judicial decisions were rendered across Canada relevant to commercial lenders, businesses and restructuring professionals.

CanadaInsolvency/Bankruptcy/Re-Structuring
Pamela Huff
Pamela Huff
Linc Rogers
Linc Rogers
Caitlin McIntyre
Caitlin McIntyre
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In 2020, several significant judicial decisions were rendered across Canada relevant to commercial lenders, businesses and restructuring professionals. This bulletin summarizes the core issues of importance in each case and provides status updates on the cases reported on in our January 2020 bulletin, Key Developments in Canadian Insolvency Case Law in 2019.

CHARACTERIZATION AND TREATMENT OF ELIGIBLE FINANCIAL CONTRACTS

Bellatrix Exploration Ltd. (Action No. 1901-13767)
Date of Decision: February 4, 2020

Bellatrix Exploration Ltd. (Bellatrix) obtained protection under the Companies' Creditors Arrangement Act (Canada) (CCAA). At the time of the CCAA filing, Bellatrix was party to certain contracts with an energy producer (EP) for the purchase and sale of natural gas (Contract). Bellatrix sought to disclaim the Contract and cease delivery of natural gas to the EP.

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