Searching Content indexed under Financial Restructuring by Blake, Cassels & Graydon LLP ordered by Published Date Descending.
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What Comes First: Deemed Trusts Or Court-Ordered Super Priority Charges? ABCA Weighs In
On August 29, 2019, the Alberta Court of Appeal released its decision in Canada v. Canada North Group Inc.
4 Sep 2019
Improper Purpose By A Creditor? The Quebec Court Of Appeal Weighs In
On February 4, 2019, the Quebec Court of Appeal (Court of Appeal) ruled in the restructuring proceedings of Bluberi Gaming Technologies Inc., now 9354‑9186 Québec Inc., et al.
27 Feb 2019
Concordia International Corp.'s Canada Business Corporations Act Proceedings Explained
The recent restructuring proceedings of Concordia International Corp. (Concordia) demonstrate that the arrangement provisions of the Canada Business Corporations Act (CBCA) remain as a powerful tool for balance sheet restructurings in Canada.
22 Oct 2018
Recent Developments In Canadian Insolvency Case Law: What Lenders Need To Know
In 2017, a number of insolvency cases were litigated, in various provinces across Canada, which may materially affect the realization and recovery rights of commercial lenders in restructuring and insolvency proceedings.
8 Dec 2017
Alberta Court Provides Clarity On Oppression Claims In CCAA Context
Lightstream is a light oil-focused exploration and production company, operating primarily in Alberta and Saskatchewan.
15 Mar 2017
Amendments To Canada's Bank Restructuring Legislation: Bail-In And Financial Contract Safe Harbours
The Government of Canada recently introduced the Budget Implementation Act, 2016 No. 1 (Bill C-15) to implement certain initiatives announced in the March 2016 federal budget...
11 May 2016
Legal Trends 2016: Restructuring & Insolvency
In Canada, exploration and production (E&P) companies have been among the first to struggle in the new oil economy.
13 Apr 2016
Plans Of Arrangement Under CBCA: Lessons From Connacher Oil
On April 2, 2015, Justice C.M. Jones rejected Connacher's restructuring proposal for the reasons set out below.
20 May 2015
Supreme Court Of Canada Speaks On Indalex
A discussion on the decision of the Supreme Court of Canada in the Indalex case.
5 Feb 2013
Credit Bidding: The Basics
Credit bidding allows a secured creditor to use its debt as currency in a competitive sales process. The traditional court-supervised sales process in proceedings under the Companies’ Creditors Arrangement Act (CCAA) contemplated the solicitation of offers for a debtor’s business, with all offers to be submitted by a court-prescribed deadline.
22 Nov 2010
Credit Bids and White Birch Paper
Credit bids in relation to overleveraged businesses have become a hot topic following the economic crisis of 2008.
22 Nov 2010
Stay Under the Business Corporations Act (Alberta)
An integral part of insolvency proceedings in Canada is the issuance of a stay of proceedings which prevents creditors from commencing or continuing actions against the debtor.
22 Nov 2010
Out-of-Court Restructurings
In the last couple of years, we have seen an increased use of out-of-court restructurings or as an alternative to a formal insolvency proceeding under the Companies’ Creditors Arrangement Act (Canada) (CCAA) or its equivalent in the United States, Chapter 11 of the U.S.Bankruptcy Code.
22 Nov 2010
The Canwest Story
While credit bidding has an established history in Canada, there is little case law on the topic. The Companies’ Creditors Arrangement Act (CCAA) proceedings of the Canwest Publishing Group (Canwest) provide the best and most recent example of the considerations in a credit bid, including the establishment of a fair process for the stakeholders.
19 Nov 2010
The Indalex Principles - Ontario Court Establishes Test For DIP Guarantees
The dominant theme in recent judicial discussions in connection with the approval of cross-border DIP financing is the appropriateness of approving cross-border guarantees in connection with DIP financing; particularly when the court is asked to approve re-financing or a roll up of pre-filing indebtedness.
28 Apr 2009
Loan Pricing Based On Credit Default Swaps - Whither The Rating Agency?
A new trend is developing in the pricing of corporate loans which has the potential to have a major impact on the cost of credit for borrowers and the way in which that cost of credit is calculated.
14 Nov 2008
Court-Supervised Mergers And Acquisitions Opportunities For Knowledgeable Buyers In Distressed Markets
The acquisition of an insolvent target will usually involve a court process. A corporation may be insolvent on either an asset-value test, where the value of its assets is less than its liabilities, or a cash-flow test, where it has insufficient liquidity to meet its liabilities generally as they become due, regardless of the value of its assets.
9 Nov 2007
Restructuring Trends, Issues And Opportunities
The casualties of the current market turbulence will bring about a next wave of mergers and acquisitions opportunities in the form of distressed M&A.
9 Nov 2007
Sweeping Changes Proposed To Canadian Bankruptcy & Insolvency Legislation
To the astonishment of many otherwise informed observers who did not anticipate any legislative action on bankruptcy reform in Canada prior to the next federal election, on June 3, 2005, Bill C-55, which proposes sweeping changes to Canada’s principal insolvency statutes, was introduced in the House of Commons of Canada.
13 Sep 2005
Excluded Interest – The Post-Amble To Paragraph 212(1)(B)
Most of the withholding tax exemptions relating to interest paid to non-residents contained in paragraph 212(1)(b) of the Income Tax Act (Canada) (the Act), including the 5/25 exemption, are subject to the limitations set out in the post-amble to paragraph 212(1)(b). The post-amble provides that where interest is payable on an obligation and "all or any portion of the interest is contingent or dependent on the use of or production from property in Canada or is computed by reference to revenue, p
7 Jun 2005
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