About Articles The following articles are published by the Insolvency Law Section of the Ontario Bar Association. Members are encouraged to submit articles. About Articles

Editors: Gregory Azeff


Early Termination Fees and Section 244 of the Bankruptcy and Insolvency Act

  • May 12, 2017
  • Lisa Corne

Early termination fees, or make whole payments, as they are sometimes called, are an integral part of the overall economic arrangement negotiated by lenders. Therefore, lawyers advising secured lenders on strategies for recovery of their indebtedness should be aware that certain seemingly innocuous actions may jeopardize a lender’s entitlement to recover an early termination fee.

Insolvency Law

Planes, Leaves and Appeals: Appeals Under Section 193(c) of the Bankruptcy and Insolvency Act

  • July 19, 2016
  • Craig A. Mills, Miller Thomson LLP

Appeals in the insolvency arena, although procedurally governed by provincial rules of civil procedure, become a little more complicated when dealing with the appeal provisions contained in the BIA. That means that when appealing an order granted under the BIA, the first thing you need to figure out is whether you have an automatic right of appeal or if you need to seek leave to appeal.

Insolvency Law

$7.3 Billion For Everyone: Nortel Networks Corporation (Re) – Asset Allocation Trial

  • June 30, 2015
  • Jeffrey Levine, Stephen Eddy and Bettina Xue

In the recent highly publicized decision involving Nortel’s global insolvency, the Ontario Superior Court of Justice ordered a novel asset allocation scheme. This case demonstrates the tremendous flexibility of the Companies’ Creditors Arrangement Act (“CCAA”) and the discretion the CCAA provides to courts.

Insolvency Law

Constructive Trusts in Insolvency Situations: Wurth v 1135096 Alberta Ltd and Related Decisions

  • January 14, 2015
  • Jeffrey Levine and Stephen Brown-Okruhlik

In a recent decision, the Court of Queen’s Bench of Alberta considered when a constructive trust will be imposed over the property of a bankrupt to assist the beneficiary of a breached trust where the bankrupt was complicit in the breach. The case provides guidance on the special considerations that apply when seeking to impose a constructive trust in insolvency situations.