The Court of Appeal has confirmed that a landlord will be entitled to call on the letter of credit to satisfy its claim for losses arising from the disclaimer or termination of a tenant’s lease in an insolvency proceeding.
Bankruptcy and Insolvency Act
Never before in history have businesses of all sizes and of all or almost all industries faced a crisis resulting from a simultaneous decline of supply and demand. The resulting liquidity crisis is creating pervasive insecurity among the managers of businesses and the stakeholders of those businesses, including their employees, shareholders, customers, suppliers, creditors and the communities in which the businesses operate.
The last 12 months have been an exciting time in Canadian trademark law. In June 2019, the most significant changes in decades were implemented to Canada's Trademarks Act and Trademarks Regulations.