In Atlantica Diversified Transportation Systems Inc. (Re), 2018 NSSC 77, the Supreme Court of Nova Scotia considered whether a true lessor is exempt from payment of expenses covered by an administration charge in Companies’ Creditors Arrangement Act (“CCAA”) proceedings. A determining factor on a claim for exemption is whether the lessor received a benefit – […]
Tudor Sales Ltd. (Re), 2017 BCSC 119 is a case from British Columbia that dealt with whether shareholder loans, as a non-arm’s length transaction, are properly characterized as debt, or as equity.
In the Nova Scotia case Witch’s Glen Gold Inc., Re, 2015 NSSC 93, the sole creditor, Steve Furlotte, brought an application pursuant to s. 43 of the Bankruptcy and Insolvency Act (BIA) seeking a bankruptcy order against the debtor Witch’s Glen Gold Inc. (“WGC”).
Gray Aqua Group of Companies, Re is a case from New Brunswick that dealt with the remedy of substantive consolidation under the Bankruptcy and Insolvency Act (BIA). Historically, courts have shown reluctance in granting consolidation and it was seen as an extraordinary remedy.
This paper offers a summary of important bankruptcy and insolvency case law from the last 12 months. Included are a variety of cases from Atlantic Canada, Ontario, and Alberta.
A decision was recently released from Justice Wood of the Nova Scotia Supreme Court in ECBC v Crown Jewel Resort Ranch Inc. and I.N.K. Real Estate (2014 NSSC 420) regarding receivership sales and the issuance of vesting orders on sale approval. Very few written decisions are issued in receivership proceedings in this Province so the ruling should be carefully considered and followed in future receivership proceedings and motions.