Cross-Border Insolvency in the U.S. under Chapter 15 of the Bankruptcy Code April 12, 2012 Marcus Hinkley, Frank Spizzirri On April 20, 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act was passed, and consequently Chapter 15 was added to the Bankruptcy Code of the U.S.
Criteria for Court Approval of Sale of Assets Under s65.13 of BIA April 12, 2012 Paul Denton, Peter Crawley In the Matter of the Proposal of Komtech Inc., the Ontario Superior Court of Justice addressed the issue of whether a debtor needs to be able to demonstrate its ability to make a viable proposal in order to be able to obtain approval of a sale of its assets out of the ordinary course of business.
Continuing a Proposal Proceeding Under the CCAA: Case Commentary April 12, 2012 Maya Poliak, Hylton Levy In Clothing for Modern Times (Re), the Ontario Superior Court of Justice considered the application of section 11.6 of the Companies’ Creditors Arrangement Act or whether the proceeds of a preference action under s. 95 of the BIA are subject to the rights of secured creditors.
Stern v. Marshall: The U.S. Supreme Court Pitches A Game Changer February 06, 2012 Garry M. Graber, Esq., Craig T. Lutterbein, Esq. HODGSON RUSS LLP Recently, the Supreme Court issued a decision that casts serious doubt on the authority of bankruptcy courts in the United States to hear and finally determine many of the routine claims that those courts have traditionally adjudicated on a virtually exclusive basis.
General Body of Unsecured Creditors vs. Remaining Joint Tenants February 06, 2012 Sean Zeitz On September 18, 2009 Parliament proclaimed into force section 96 of the Federal Bankruptcy and Insolvency Act, 1992, c. 27, s.2.
A Cautionary Tale on Privilege Claims by Court-Appointed Receivers February 06, 2012 John A. MacDonald, Mary Paterson In Manufacturers Life v. Juno Developments, 2011 ONSC 3945, the Court considered whether Court-appointed receivers can claim solicitor-client or litigation privilege to protect documents.
New LinkedIn Group February 06, 2012 The OBA Insolvency Law Section has a new LinkedIn Group. After you become a member of the Group you'll be able to share information with your fellow Section members through the Group.
OBA Insolvency Law Section Crossword – Edition #1 October 17, 2011 Frank Spizzirri, Shaheen Karolia Welcome to our first edition of the OBA Insolvency Law Section Crossword. The first person to complete and email a correctly filled crossword will receive a prize. Bonus prize goes to the first person to find the hidden error. Enjoy!
Case Comment: Schreyer v. Schreyer October 17, 2011 Robert A. Klotz The Supreme Court of Canada’s recent decision (July 14 2011) in Schreyer v. Schreyer arose out of facts that are not uncommon in Manitoba, where the case originated, or indeed in Ontario.
Preferences under s. 95 and the Rights of Secured Creditors - Tucker v. Aero Inventory (UK) Ltd., [2011] October 17, 2011 Frank Spizzirri, Shaheen Karolia The Ontario Superior Court of Justice addressed whether a trustee can pursue a preference action solely on behalf of, and for the benefit of a secured creditor or whether the proceeds of a preference action under s. 95 of the BIA is subject to the rights of secured creditors.