Banking, Bankruptcy & Insolvency
-
May 26, 2023
Court upholds non-discharge of debt from default judgment in bankruptcy
The Ontario Court of Appeal has upheld a decision declaring that a debt owed by a construction firm and its director under a default judgment would not be discharged under bankruptcy provisions.
-
May 24, 2023
B.C. court grants leave to appeal, stay on receivership order
The B.C. Court of Appeal has granted a secured creditor leave to appeal, and issued a stay on an order appointing a receiver over a debtor’s assets, citing potential irreparable harm faced by the creditor.
-
May 23, 2023
Ontario court rejects application seeking to bar claims on insolvent debtor’s property
The Ontario Court of Appeal has upheld a decision dismissing a creditor’s application for a vesting order granting it the title to an insolvent debtor’s property under an option, free and clear of other creditors' claims.
-
May 10, 2023
Recruitment drive on to fill B.C. Supreme Court’s high vacancies amid too few approved candidates
British Columbia’s bar and bench are working to recruit qualified lawyers with diverse legal and life experiences to apply to become judges of the B.C. Supreme Court. The superior trial court has been contending with too few judges for the past several years — as of May 1 there were a dozen vacancies on a court of 95, a high 13-per-cent vacancy rate.
-
May 09, 2023
Top judges decry Ottawa’s appointment delays; application vetting defunct in B.C., Toronto, N.S.
As Canada’s top judges again raise their voices about Ottawa’s chronic and lengthy delays in appointing superior court judges — causing cancelled trials, judicial burnout and wasted time and expense for litigants — the Liberal government has allowed more than one-third of its judicial vetting committees to collapse.
-
May 05, 2023
B.C. ruling means differing interpretations on role of student loans in bankruptcy remain: lawyer
B.C.’s top court has weighed in on the issue of how to deal with government student loans as part of the bankruptcy process — and has taken a position at odds with rulings in other provinces.
-
May 05, 2023
Monitor initiates process for potential transactions regarding Manitoba Clinic companies
Alvarez & Marsal Canada Inc., monitor for Manitoba Clinic companies in creditor protection proceedings, is conducting a sale and investment solicitation process for the companies.
-
May 04, 2023
Nova Scotia court grants creditor protection to company developing cancer vaccines
The Supreme Court of Nova Scotia has issued an initial order granting protection under the Companies’ Creditors Arrangement Act to a biopharmaceutical company that develops treatments for solid and hematologic cancers, and to its subsidiaries.
-
May 04, 2023
CRA employees head back to work after union reaches tentative deal with Ottawa
The Canada Revenue Agency (CRA) has reached a tentative four-year agreement with its striking workers, with 35,000-plus union members expected back on the job by 11:30 a.m. EDT May 4.
-
May 02, 2023
Competition Bureau seeks information on RBC’s proposed acquisition of HSBC Canada
The Competition Bureau has launched an investigation into the proposed acquisition of HSBC Bank Canada by Royal Bank of Canada (RBC) and has issued a Request for Information (RFI) to gather relevant information from market participants and Canadians to help with its investigation, it said in a statement on May 1.