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

Editor: Spencer Jones

head-shot photo of author Divyansh (Divi) Dev

Solving the Canadian Insolvency Puzzle: Unmasking the Directing Minds or Piercing the Corporate Veil?

  • September 14, 2023
  • Divyansh (Divi) Dev, restructuring & insolvency associate at Thornton Grout Finnigan LLP

When attempting to determine liability for the actions of a corporation, two common law doctrines come into play: the doctrine of lifting the corporate veil and the corporate attribution doctrine. Both are employed when the status of a corporation as a separate legal entity requires a distinction from the acts of its officers, leading to exceptions to the principle of limited liability or separate legal entity. However, these doctrines diverge in their applicable tests.

Insolvency Law, Student Forum, Young Lawyers' Division

‘One For All’: When will courts appoint representative counsel?

  • September 22, 2022
  • Matilda Lici

Matilda Lici of Aird and Berlis LLP discusses recent decisions from across Canada dealing with the appointment of representative counsel and the various factors that will inform a court’s exercise of discretion.

Insolvency Law, Student Forum

Lying isn’t always Lying: The Ontario Court of Appeal takes a purposeful interpretation of s. 178(1)(e) of the Bankruptcy and Insolvency Act

  • September 22, 2022
  • Spencer Jones

Spencer Jones of Lerners LLP summarizes a decision where the Ontario Court of Appeal considered the meaning of the term “debt or liability resulting from obtaining property or services by false pretences or fraudulent misrepresentation” and whether false statements made during a discovery in underlying litigation is included within this term.

Insolvency Law, Student Forum

Creditors Beware – The Time is Ripe for Equitable Subordination

  • September 09, 2022
  • Anthony Labib

In late 2019, section 18.6 of the Companies’ Creditors Arrangements Act and section 4.2 of the Bankruptcy and Insolvency Act were introduced, requiring all interested parties to a proceeding to act in good faith. The 2019 Amendments do not define “good faith” or provide specific remedies for a breach of it. Rather, the amendments provide the court with unfettered discretion to make any order it considers appropriate when a stakeholder breaches its good faith obligation.

Insolvency Law, Student Forum

Harte Gold Case Comment: Scrutinize the RVO

  • August 23, 2022
  • Daniel Alievsky and Shurabi Srikaruna

Harte Gold Corp (Re) held that greater scrutiny should be exercised when deciding to grant an RVO, that RVOs should be considered an extraordinary measure. The impact of this case is that parties seeking approval for their RVO structure will be required to meet a higher evidentiary threshold, allowing a court to determine that their RVO structure is necessary, economical, and a viable alternative, that causes the least amount of harm to all stakeholders in comparison to alternate options.

Insolvency Law, Student Forum

Exiting the BIA NOI Process Without a Proposal: Court Approves Company’s Withdrawal of Proposal After Return to Solvency

  • October 14, 2021
  • Joël Turgeon, Goldman Sloan Nash & Haber LLP

Following the refinancing and repayment of first-ranking debt during a restructuring under the BIA, one of the subsidiaries in the debtor group, Down Under Pipe and Cable Locating Ltd., was solvent again, its only remaining creditor being a related party. Despite its return to solvency, Down Under still faced bankruptcy since the BIA prevents related parties from voting in favour of proposals.

Insolvency Law, Student Forum

Aquadis Case Comment: Extending the Reach of the Super Monitor

  • June 30, 2021
  • Alexander Overton, Western University Faculty of Law, recipient of the Michael MacNaughton Student Writing Award for Insolvency Law

The role played by the CCAA monitor in assisting the court as it shepherds along a corporate restructuring has evolved significantly over time. While still acting as the eyes of the court and standing apart from any particular stakeholder, recent developments in insolvency law have seen the monitor take on an increasingly active part in proceedings. The decision of the Québec Court of Appeal in Aquadis affirmed another such expansion of the monitor’s powers.

Insolvency Law, Student Forum

2019 CCAA Amendments and their Impact on First-Day Relief

  • June 30, 2021
  • Namrata Bhagia, Michael MacNaughton Student Writing Award finalist

The purpose of this article is to determine the practical implications of the CCAA amendments on timeline of initial stay order and first-day relief. In doing so, the initial orders in Clover Leaf Holdings Company, Re, Lydian International Limited (Re), and Laurentian University of Sudbury will be briefly analysed and compared.

Insolvency Law, Student Forum

The Separation of Statutes: The Effects of Bankruptcy on Spouses

  • June 30, 2021
  • Nadine Saba, Michael MacNaughton Student Writing Award finalist

In this paper, the author argues that legislative reform is necessary to ease the impact of the treatment of divorcing spouses as unsecured creditors in a bankruptcy. Nadine Saba first provides an overview of the bankruptcy and family legislation, with a discussion of the seminal case law. She then discusses the feminization of poverty, and concludes with suggestions for legislative changes.

Insolvency Law, Student Forum

Notice to the Profession - Toronto - March 18

  • March 22, 2021

A link to the latest amendments to the Notice to the Profession - Toronto, which include updates to the Registrars in Bankruptcy section (Section F).

Insolvency Law, Student Forum