Category: Restructuring & Insolvency

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Supreme Court of Canada Grants Leave to Challenge Unconstitutionality of Alberta’s Oil and Gas Licensing Regime

November 9, 2017

On November 9, 2017, the Supreme Court of Canada (SCC) granted the leave application (Leave Application) filed by the Alberta Energy Regulator (AER) and the Orphan Well Association (OWA) in Orphan Well Association, et al v. Grant Thornton Limited, et al, which sought leave to appeal the decision of the majority of the Alberta Court of Appeal in Orphan Well…

Retail Insolvencies in Canada Series

October 17, 2017

Our Retail Insolvencies series examines large retail insolvencies in Canada from the perspective of various stakeholders. It focuses on Companies’ Creditors Arrangement Act (Canada) (CCAA) proceedings, with reference to alternate insolvency proceedings where applicable. The CCAA is the principal statute for the reorganization or sale of large corporate debtors in Canada and the functional equivalent to Chapter 11 of the U.S. Bankruptcy…

Doing Business in Canada

October 10, 2017

The Blakes Doing Business in Canada guide is an introductory summary of the laws and regulations that affect the conduct of business in Canada.

Retail Insolvencies in Canada Series, #2: Supplier Perspectives

October 6, 2017

This is the second instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. This article discusses retail insolvencies from the perspective of third-party inventory suppliers and service providers, and follows the Companies’ Creditors Arrangement Act (Canada) (CCAA) filing of Toys “R” Us (Canada) Ltd. (Toys Canada), a leading toy and baby products retailer. The…

Retail Insolvencies in Canada Series, #1: Landlord Perspectives

July 18, 2017

This article is the first instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. The Companies’ Creditors Arrangement Act (Canada) (CCAA) is the principal statute for the reorganization, or sale, of large corporate debtors in Canada and the functional equivalent to Chapter 11 of the U.S. Bankruptcy Code (Chapter 11) in the United…

Update: Court of Appeal Affirms Unconstitutionality of Alberta’s Oil and Gas Licensing Regime

May 3, 2017

On April 24, 2017, in Orphan Well Association v. Grant Thornton Limited, the Alberta Court of Appeal (Court) upheld Chief Justice N. Wittmann’s decision (Chief Justice) in Redwater Energy Corporation (Re) (Chambers Decision) by finding that certain sections of the Oil and Gas Conservation Act (OGCA) and Pipeline Act (PA) are inoperative to the extent that they are used by…

Alberta Court Provides Clarity on Oppression Claims in CCAA Context

March 13, 2017

The Alberta Court of Queen’s Bench (Court) has provided clarity on how oppression claims will be adjudicated in the context of the Companies’ Creditors Arrangement Act (CCAA). In the recent decision in Lightstream Resources Ltd. (Re), the Court confirmed that it has jurisdiction to hear oppression claims, but held that the exercise of this discretion is limited to appropriate circumstances….

Restructuring and Insolvency: A Cross-Country Year in Review

January 26, 2017

Join members of our National Restructuring & Insolvency Group as they review key restructuring and insolvency developments and trends across Canada in 2016. This seminar provides a broad cross-country update on major domestic and cross-border filings, topics of interest and judicial decisions in 2016, across a number of industries, including oil and gas, mining, real estate, retail, and others. Mandatory…

From “Judgment Granted” to Getting Paid: SCC Ruling Makes it Easier for Plaintiffs to Enforce Judgments

November 18, 2016

The Supreme Court of Canada (SCC) has rendered judgment in a closely-watched case involving the intersection of judgment enforcement and privacy rights. As discussed in an our July 2015 Blakes Bulletin: You Won Your Case — Now What? SCC to Consider Intersection of Judgment Enforcement and Privacy Rights, this matter required the SCC to weigh enforcement rights of winning plaintiffs…

Court of Appeal Closes Door on U.S. Doctrine for Re-Ranking Creditors

September 22, 2016

The Ontario Court of Appeal (OCA) has closed the door on the application of equitable subordination in Companies’ Creditors Arrangement Act (CCAA) proceedings. In U.S. Steel Canada Inc. (Re), the OCA clarified the scope of the court’s broad discretion under section 11 of the CCAA and found that the American doctrine of equitable subordination — which allows for the re-ranking…

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