Redwater – SCC delivers the final word
On February 1, 2019, the Supreme Court of Canada (SCC) released its highly anticipated decision in the Orphan Well Association, et al. v. Grant Thornton Limited, et al, 2019 SCC 5 (Redwater).
Bankruptcy and Insolvency Act
Robust information about purchasers/assignees may be required before contracts will be assigned under the CCAA
In Dundee Oil and Gas Limited (Re), 2018 ONSC 3678, Justice Dunphy provided some important guidance on information that should be provided to the court in support of a motion for an order assigning contracts pursuant to section 11.3 of the Companies' Creditors Arrangement Act, RSC 1985, c. C-36.
No priority for pension claims in Wabush CCAA
Wabush is a welcome decision for third-party lenders to companies with defined benefit pension plans, and employers who sponsor defined benefit pension plans who may have had issues in accessing capital as a result of the SCC decision in Indalex.
