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Indalex Limited's assets were sold in a liquidating proceeding under the federal Companies' Creditors Arrangement Act (the "CCAA").

In British Columbia (Superintendent of Pensions) v Western Forest Products Inc ((2006) Carswell BC 1536 (BCSC)) the superintendent of pensions applied to the court for an order compelling the debtor to comply with the reporting provisions of the provincial pensions legislation.

Bankers to the oil and gas industry should be wary of applying customer’s funds held in accounts with the bank against obligations owed to the bank where the customer is known to be an “Operator” under a Joint Operating Agreement.

Every entrepreneur facing financial difficulty spends a great deal of their time and energy trying to minimize the costs incurred by their business in an effort to stay operating or maximize the return from a sale of the business' assets.

On December 1, 2014, the Court of Appeal for Ontario (the "Court of Appeal") released its decision, written for the Court of Appeal by Madam Justice Pepall, in Bank of Nova Scotia v. Diemer, 2014 ONCA 851 ("Diemer").

One of the issues that we did not have the space to deal with in our earlier Flash of April 11, 2011 on the Ontario Court of Appeal decision in Re Indalex Limited, 2011 ONCA 265, was the expansive impact that the decision may well have on corporate group insolvencies — and especially ones that are cross-border in nature.

This decision considers the obligations of a company acting as both employer and pension administrator where the company becomes insolvent. Indalex Limited ("Indalex") obtained protection from creditors under the "Companies' Creditors Arrangements Act" ("CCAA").

One of the issues that we did not have the space to deal with in our earlier Flash of April 11, 2011 on the Ontario Court of Appeal decision in Re Indalex Limited, 2011 ONCA 265, was the expansive impact that the decision may well have on corporate group insolvencies — and especially ones that are cross-border in nature.

Public consultations on enhancing retirement security led by the Ministry of Innovation, Science and Economic Development Canada closed in late 2018.

Under section 70 of the Bankruptcy and Insolvency Act (BIA), when a debtor assigns into bankruptcy, or is adjudge a bankrupt by a court, and subject to the rights of secured creditors...

In Lymer v Jonsson, 2023 ABKB 565, the Alberta Court of King's Bench, in the context of bankruptcy proceedings, rendered a judgment concerning the applicability of section 11(b) (Section 11(b))...

This article looks at how business owners can know whether their situation merits bankruptcy.

Callidus was a secured creditor of Cheese Factory Road Holdings Inc. Pursuant to a trust agreement, Cheese Factory held all funds received in trust ...

Peace River subcontracted construction work to Petrowest on a hydroelectric dam project in B.C. The relevant contracts contained various arbitration agreements.

In an environment of widespread and rapidly evolving impacts from the COVID-19 pandemic, it is more important than ever for businesses to give timely attention to potential liquidity...

Canadian distressed M&A activity seems poised to rise, as low commodity prices and tight capital markets spur a re-examination of business models and balance sheets built for better times.

In a precedent-setting decision, Justice Fitzpatrick of the British Columbia Supreme Court held that a U.S. multi-employer pension plan's claim for $1.25 billion against Canadian CCAA debtors was invalid.