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ARTICLE · 03 JUNE 2020

SCC Opens Doors To Litigation Funding In Insolvency Proceedings

Borden Ladner Gervais LLP
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On May 8, 2020, the Supreme Court of Canada (SCC) released its reasons for the decision rendered in 9354-9816 Québec Inc. et al. v. Callidus Capital Corporation, et al on January 23, 2020.

CanadaLitigation, Mediation & Arbitration
Josef Krüger
Josef Krüger
Hugo Babos-Marchand
Hugo Babos-Marchand
Tyler McNaughton
Tyler McNaughton
Katie Archibald
Katie Archibald
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On May 8, 2020, the Supreme Court of Canada (SCC) released its reasons for the decision rendered in 9354-9816 Québec Inc. et al. v. Callidus Capital Corporation, et al on January 23, 2020. The SCC unanimously allowed the appeal from the Québec Court of Appeal's decision, reinstating an order allowing third-party litigation funding in insolvency proceedings.

Background

In November 2015, a consortium of entities which manufactured, distributed, installed and serviced electronic casino gaming machines (Bluberi) sought protection under the Creditors' Companies Arrangement Act (CCAA). In those CCAA proceedings, Bluberi made an application to the court for approval of:

  • Litigation funding from Bentham IMF Capital, now Omni Bridgeway Capital (Canada) Limited (Bentham) that was secured against Bluberi's assets; and

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