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ARTICLE · 19 FEBRUARY 2019

The Bluberi CCAA Proceedings: Litigation Funding In Insolvency

Gowling WLG
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On February 4, 2019, the Court of Appeal of Quebec released its decision in the matter of Callidus Capital Corporation and al. v. 9354-9186 Québec Inc. (formerly Bluberi Gaming Technologies Inc.).

CanadaLitigation, Mediation & Arbitration
Patrice Benoit
Patrice Benoit
Geneviève Cloutier
Geneviève Cloutier
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On February 4, 2019, the Court of Appeal of Quebec released its decision in the matter of Callidus Capital Corporation and al. v. 9354-9186 Québec Inc. (formerly Bluberi Gaming Technologies Inc.).  With the increase in third party litigation funding, we are now seeing it being used in the insolvency context and the Court of Appeal is considering how litigation funding arrangements are to be utilized in Companies' Creditors Arrangement Act1 ("CCAA") proceedings. The Court answers the following question:

When a debtor company, subject to protection under the CCAA has no assets except a litigation claim, who should decide whether to pursue the claim or accept a settlement - the debtor or the creditors?

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