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Never before in history have businesses of all sizes and of all or almost all industries faced a crisis resulting from a simultaneous decline of supply and demand.

This retrospective examines key developments in securities litigation over a five-year period, analyzing critical legal precedents that affect issuers, underwriters, and securities lawyers. The analysis covers OSC receiver appointments, underwriter indemnity rights, and the procedural complexities of securities class actions against insolvent issuers.

On December 10, 2018, the Superior Court of Quebec (Court) released an important judgment concerning the assignment of contracts under the Companies' Creditors Arrangements Act (CCAA) ...

The COVID-19 pandemic raises unique challenges not only for companies generally, but for their directors and officers personally. Corporate insolvency may be a looming and unexpected...

The Ontario Superior Court of Justice (Commercial List) in Re Harte Gold Corp., issued its first published decision on the use of reverse vesting orders finding that the Companies' Creditors Arrangement Act ...

On April 7, 2011, in Indalex Limited (Re), 2011 ONCA 265 (Re Indalex), the Ontario Court of Appeal (the Court) held that in certain circumstances a pension plan wind‐up deficit should be paid in priority to claims of secured creditors, including amounts outstanding under a court‐approved debtor‐in‐possession facility (the DIP Facility).

One month after the May 19, 2016 Alberta Court of Queen's Bench's decision in Redwater Energy Corporation, 2016 ABQB 278, the Alberta Energy Regulator has released Bulletin 2016-16.

On June 19, 2024, the British Columbia Court of Appeal (the "Court") issued its decision in Obsidian Energy Ltd. v. Cordy Environmental Inc., 2024 BCCA 226.

The relevant energy and environmental legislation is administered by the Alberta Energy Regulator

One of the main advantages for a debtor to seek protection under the Companies' Creditors Arrangement Act (CCAA) or the Bankruptcy and Insolvency Act (BIA) is the stay of proceedings that prevents creditors...

Accordingly, the SCC's decision fundamentally changes the application of the law by receivers and trustees.

In proceedings pursuant to the Companies’ Creditors Arrangement Act concerning The Cash Store Financial Services et al., the Court of Appeal for Ontario dismissed an appeal from a decision of the Superior Court of Justice (Commercial List).

The long-running conflict between insolvency professionals and the Alberta Energy Regulator (AER) that was (temporarily) clarified by the Court of Queen's Bench of Alberta decision in Redwater Energy Corp. was previously analyzed in a blog post here.

There are many similarities between the sale of assets through a bankruptcy sale in the United States under Section 363 of the U.S. Bankruptcy Code and the sale of assets under Canada's Companies'...

On November 8, the Supreme Court of Canada delivered a final ruling on an issue raised by s. 222 of the Excise Tax Act (the ETA): whether the Crown has a personal right of action ...

The United States Bankruptcy Code takes a different approach in principle from the CCAA with respect to post-filing obligations. American legislators, however, have codified specific post-filing

Two major pieces of legislation govern insolvency and bankruptcy in Canada – the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA).

With the FTX Group's recent Chapter 11 filing, on the heels of the recent Celsius Network LLC Chapter 11 filing, we have entered what could be described as a "Lehman Brothers moment"...