Mondaq Canada: Insolvency/Bankruptcy/Re-structuring
McMillan LLP
We previously wrote about the decision in The Queen v. Callidus Capital Corporation of the Federal Court of Appeal in our Restructuring and Tax Bulletin.
Borden Ladner Gervais LLP
On November 8, 2018, in a decision delivered unanimously from the bench, the Supreme Court of Canada confirmed that the Crown's superpriority over unremitted Goods and Services Tax/Harmonized Sales Tax (GST/HST) is ineffective against a secured creditor who received, prior to a tax debtor's bankruptcy, proceeds from that taxpayer's assets.
Norton Rose Fulbright Canada LLP
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 ...
McCarthy Tétrault LLP
In a 2017 judgment discussed here, the Federal Court of Appeal permitted the CRA to assert a claim against a secured creditor who had received a repayment from its borrower prior to bankruptcy when the borrower...
Cassels Brock
On October 29, 2018, the Government of Canada introduced Bill C-861 (Bill C-86), which, among other things, would amend the Bankruptcy and Insolvency Act2 (the BIA) and the Companies Creditors'
Cox & Palmer
A few years ago, we canvassed the now outdated and antiquated financial assistance (or illicit loan) provisions that remain in the Newfoundland and Labrador Corporations Act (the "Act") ...
Fasken (French)
Le 30 octobre 2018, le gouvernement fédéral a présenté la Loi n° 2 d'exécution du budget de 2018 au Parlement (nous l'appellerons le « projet de loi » pour faciliter la lecture).
Stikeman Elliott LLP
Le 1er mars 2018, la Société d'assurance-dépôts du Canada (la « SADC ») a publié la mise à jour de son document d'orientation intitulé Droits de résiliation de contrats financiers admissibles en situation de règlement de faillite.
Lindsay Kenney LLP
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.
Torkin Manes LLP
Almost one year ago, in an article entitled "Are Forbearance Agreements on the Endangered Species List? The Effect of Canada v. Callidus Capital on Lender's Dealings with Insolvent Borrowers"...
Bennett Jones LLP
In a unanimous decision issued November 8, 2018, the Supreme Court of Canada granted the appeal of the decision of the Federal Court of Appeal in Canada v Callidus Capital Corp, 2017 FCA 162.
Gardiner Roberts LLP
Callidus Capital has struck back against what some call the evil empire aka CRA.
Davies Ward Phillips & Vineberg
The Supreme Court of Canada (the SCC) has overturned the decision rendered by a majority of the Federal Court of Appeal (the FCA) in Callidus Capital Corporation v Her Majesty the Queen.
Langlois lawyers, LLP
In this matter, the debtor Cheese Factory Road Holdings Inc. ("Cheese Factory") had collected but failed to remit GST/HST to the Crown between 2010 and 2013.
Miller Thomson LLP
The Manitoba Court of Appeal has held that a bankrupt, who had previously unsuccessfully applied to set aside a bankruptcy order on the ground that the creditor seeking bankruptcy...
Blake, Cassels & Graydon LLP
The recent restructuring proceedings of Concordia International Corp. (Concordia) demonstrate that the arrangement provisions of the Canada Business Corporations Act (CBCA) remain as a powerful tool for balance sheet restructurings in Canada.
Goldman Sloan Nash & Haber LLP
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'...
Blake, Cassels & Graydon LLP
This is the fourth and final instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders.
Torys LLP
While the interest stops rule has been codified in the Bankruptcy and Insolvency Act2 and the Winding-Up and Restructuring Act ...
Norton Rose Fulbright Canada LLP
The purpose of such a claim is obviously to maximize the value of the debtor's assets for the benefit of its creditors.
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Norton Rose Fulbright Canada LLP
The high (and rising) cost of complex commercial litigation proceedings remains one of the defining features of litigation in Ontario, and across Canada more broadly.
Fasken (French)
Le 30 octobre 2018, le gouvernement fédéral a présenté la Loi n° 2 d'exécution du budget de 2018 au Parlement (nous l'appellerons le « projet de loi » pour faciliter la lecture).
McMillan LLP
We previously wrote about the decision in The Queen v. Callidus Capital Corporation of the Federal Court of Appeal in our Restructuring and Tax Bulletin.
Cox & Palmer
Callidus was a secured creditor of Cheese Factory Road Holdings Inc. Pursuant to a trust agreement, Cheese Factory held all funds received in trust ...
Bereskin & Parr LLP
Failure to comply with the prescribed requirements may result in the Federal Court granting various types of relief, including punitive damages.
Cassels Brock
On October 29, 2018, the Government of Canada introduced Bill C-861 (Bill C-86), which, among other things, would amend the Bankruptcy and Insolvency Act2 (the BIA) and the Companies Creditors'
Stewart McKelvey
In a rare decision from the bench, the Supreme Court of Canada ("SCC") allowed the appeal of Callidus Capital Corporation in the matter of Callidus Capital Corporation v Her Majesty the Queen.
McInnes Cooper
Section 222 of the Excise Tax Act allows the Crown to claim a tax debtor's GST/HST arrears against a creditor that obtains proceeds from the debtor's assets.
Borden Ladner Gervais LLP
On November 8, 2018, in a decision delivered unanimously from the bench, the Supreme Court of Canada confirmed that the Crown's superpriority over unremitted Goods and Services Tax/Harmonized Sales Tax (GST/HST) is ineffective against a secured creditor who received, prior to a tax debtor's bankruptcy, proceeds from that taxpayer's assets.
Borden Ladner Gervais LLP
Canada's legal system is based on English common law, applied in nine provinces and three territories; and French civil law ...
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