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The Redwater Energy Corporation (Redwater) saga endures as the issues in the case continue to loom large in the Alberta oil and gas industry and the Federal bankruptcy regime.

Effective February 28, 2014, the Alberta Energy Regulator has implemented the Licensee Liability Rating Program Management Plan.

On October 28, 2013, the Ontario Ministry of the Environment (MOE) announced that it had reached a settlement with the former directors and officers of Northstar Aerospace...

The stakes in the appeal from a recent case in Alberta, Qualex-Landmark Towers Inc v 12-10 Capital Corp ("Qualex") are rising with the recent decision of the Court of Appeal of Alberta...

In a landmark decision released on January 31, 2019, the Supreme Court of Canada ruled in Orphan Well Association v Grant Thornton Ltd. that the environmental remediation obligations of a bankrupt oil and gas company ...

In 2008 the Legislative Assembly of British Columbia passed the Economic Incentive and Stabilization Statutes Amendment Act, a bill intended to protect registered savings plans of debtors from creditors.

The recent amendments to the Bankruptcy and Insolvency Act (the BIA) and the Companies' Creditors Arrangement Act (the CCAA) have sought to address contractual rights amongst parties during restructuring.

Banks are entitled to terminate banking relationships on reasonable notice and without providing an explanation.

While a failing business may be burdensome to its current owners, acquiring the entity or its assets can be very attractive to onlookers.

In a 2018 judgment discussed here, the Alberta Court of Queen's Bench held that, by virtue of s. 348 of the Municipal Government Act, municipal tax claims could take priority over a Receiver's charge

One of the primary reasons why people declare bankruptcy is that upon being discharged, the bankrupt person is released from their obligation to repay most of the debts that had existed at the time they went bankrupt.

This case highlights the importance of reviewing Account Agreements and General Security Agreements to ensure maximal protection of a creditor's security interest.

Under the Law of Property Act, a mortgagee is limited to recovery of the property unless the mortgage is high ratio, insured by CMHC, or granted by a corporation.

On January 25, 2017, the British Columbia Supreme Court rendered its decision in Tudor Sales Ltd. (Re), 2017 BCSC 119.

Canadian businesses facing financial pressure from U.S. tariffs and countermeasures may experience covenant breaches and liquidity challenges. Understanding available remedies and engaging lenders early can preserve options and strengthen negotiating positions before defaults occur.

In a summary bankruptcy administration, the fees and disbursements of a trustee are prescribed by Rule 128 of the Bankruptcy and Insolvency General Rules

In the first decision of the Supreme Court of Canada considering the Companies’ Creditors Arrangement Act ("CCAA"), the court discusses the principles of interpretation for the CCAA. Apart from its importance in that respect, the decision is also of interest for its discussion of statutory interpretation, particularly with respect to statutory amendments.

Many secured creditors see their position in absolute terms. They rely on their general security and aggressively assert their priority over unsecured creditors, such as trade creditors.