RECENT DEVELOPMENTS IN THE LAW OF STAY OF PROCEEDINGS. Brandon Jaffe Jaffe & Peritz LLP
|
|
- Dina Bates
- 5 years ago
- Views:
Transcription
1 RECENT DEVELOPMENTS IN THE LAW OF STAY OF PROCEEDINGS Brandon Jaffe Jaffe & Peritz LLP 1
2 SECTION 69 OF THE BANKRUPTCY AND INSOLVENCY ACT ( BIA ) 2
3 LEGISLATIVE HISTORY OF THE BIA STAY PROVISIONS 1 Since 1923, Canadian insolvency legislation has imposed an automatic stay of proceedings in favour of a debtor who makes an assignment in bankruptcy. The current stay provisions are contained in ss. 69 to S. 69.3(1) states: 69.3 (1) Subject to subsections (1.1) and (2) and sections 69.4 and 69.5, on the bankruptcy of any debtor, no creditor has any remedy against the debtor or the debtor s property, or shall commence or continue any action, execution or other proceedings, for the recovery of a claim provable in bankruptcy. 1 Fiorito v Wiggins, Application for Leave to Appeal of the Applicant at paras Prepared by McCarthy Tétrault [McCarthy Application]
4 However, s of the BIA authorizes a court to lift the stay of proceedings in TWO situations: 1. The creditor or person is likely to be materially prejudiced by the continued operation of those sections; or 2. It is equitable on other grounds to make such a declaration. 4
5 HISTORY OF S S was added to the BIA in 1992, and was subject to minor amendments in Before, s. 69(1) merely provided: On the filing of a proposal made by an insolvent person or upon the bankruptcy of any debtor, no creditor with a claim provable in bankruptcy shall have any remedy against the debtor or his property or shall commence or continue any action, execution or other proceedings for the recovery of a claim provable in bankruptcy until the trustee has been discharged or until the proposal has been refused, unless with the leave of the court and on such terms as the court may impose 2 McCarthy Application at para 13 5
6 HISTORY OF S CONTINUED These provisions reflect the principal policy objective of bankruptcy law, which is to provide for the orderly and fair distribution of the bankrupt s property among his or her creditors on a pari passu basis. 3 By prescribing specific criteria to lift the court s jurisdiction to lift the stay, s avoid[s] a multiplicity of proceedings and prevent[s] any single unsecured creditor from obtaining a priority over any unsecured creditors by bringing an action and executing a judgment against the debtor R v Fitzgibbon, [1990] SCR 1005, as cited in McCarthy Application at para 22 4 Ibid
7 ONTARIO APPROACH TO MATERIAL PREJUDICE In Ontario, courts have recognized five circumstances set out in Advocate Mines Ltd. for when a lift-stay order may be appropriate: 5 1. Actions against the bankrupt for a debt to which a discharge would not be a defence; 2. Actions in respect of a contingent or unliquidated debt, the proof and valuation of which entails a degree of complexity that makes the summary procedure prescribed by the BIA inappropriate; 3. Actions in which the bankrupt is a necessary party for the complete adjudication of the matters at issue involving other parties; 4. Actions brought to establish judgment against the bankrupt to enable the plaintiff to recover under a contract of insurance or indemnity or under compensatory legislation; 5. Actions in Ontario which, at the date of bankruptcy, have progressed to a point where logic dictates that the action be permitted to continue to judgment. 5 Re Advocate Mines Ltd, 1984 CarswellOnt 156, as cited in McCarthy Application at para 27 7
8 ONTARIO APPROACH CONTINUED The list in Advocate Mines is not exhaustive. Ontario courts cite the circumstances described in Advocate Mines as those in which either the creditor would be materially prejudiced or where it would be equitable on other grounds to lift the stay. Reflects statutory provision at issue in Advocate Mines = pre-1992 predecessor to s The factors have proved to be a distraction. Courts have grafted post-1992 statutory language into pre-1992 case law, resulting in a confusing array of interpretations of the material prejudice criterion. 6 6 McCarthy Application at paras 28 and 34 8
9 APPROACH #1: RE CUMBERLAND TRADING INC. Farley J. held: [M]aterial prejudice is an objective prejudice as opposed to a subjective one i.e., it refers to the degree of the prejudice suffered vis-à-vis the indebtedness and the attendant security and not to the extent that such prejudice may affect the creditor qua person, organization or entity. If it were otherwise then a big creditor may be so financially strong that it could never have the benefit of this clause. 7 7 Re Cumberland Trading Inc, 1994 CanLII 7458 (Ont SC), as cited in McCarthy Application at para 35 9
10 CONTINUED On this view, material prejudice concerns the amount that the creditor will lose as consequence of the stay operation, relative to the amount that the creditor is owed. The materiality of the prejudice does not depend on the adverse impact the stay will have on the creditor s affairs, but rather on the debt or security the creditor holds. Measuring materiality this way requires the court to consider 1) availability of assets in the bankrupt estate to satisfy the claim sought to be advanced; 2) strength of the claim itself. 8 8 McCarthy Application at paras
11 APPROACH #2: GOLDEN GRIDDLE CORP. Material prejudice requires differential treatment: What [applicant creditors] must establish is material prejudice to them in the sense that they will be treated differently or some way unfairly, or they would suffer worse harm than other creditors. 9 Lederman J.: By its nature, a stay creates prejudice for all secured creditors while a reorganization is being contemplated. 10 Applicant creditor must show it will be prejudiced materially in a manner that is distinct from other creditors. 9 Golden Griddle Corp v Fort Erie Truck & Travel Plaza Inc, 2005 CanLII (Ont Sup Ct), as cited in McCarthy Application at para Ibid at para 39 11
12 CONTINUED Approach #2 is consistent with the principle underlying Advocate Mines the factors function to distinguish certain kinds of claims (and creditors) from others. 11 Cases that require differential treatment as an aspect of materiality for the purposes of s. 69.4(a) do so in order to distinguish creditors that should be entitled to a lift-stay order from those that should not. 11 McCarthy Application at para 40 12
13 APPROACH #1 VS. APPROACH #2? These two approaches are not necessarily inconsistent with one another. In Golden Griddle, Lederman J. layered the differential treatment requirement atop the objective prejudice requirement that Farley J. laid out in Cumberland Trading. Nevertheless, courts have had considerable difficulty reconciling them. The Canadian bankruptcy regime has suffered for it as have the people who interact with it daily McCarthy Application at para 41 13
14 SCHREYER V SCHREYER 13 The Supreme Court of Canada has only once addressed, in passing, the equitable on other grounds criterion. FACTS: The wife asserted that her equalization claim survived the husband s bankruptcy. HOLDING: Because the wife had not proven her equalization claim in bankruptcy, the husband had been released from it upon discharge. However, LeBel J noted in obiter that: Since this property is beyond the reach of the ordinary creditors, lifting the stay of proceedings cannot prejudice the estate assets available for distribution. In keeping with the wording of s. 69.4(b) BIA, this is why it would be equitable on other grounds to make such an order. 13 Schreyer v Schreyer, [2011] SCR 605, as cited in McCarthy Application at para 24 14
15 RECENT CASE: FIORITO V WIGGINS Fiorito v Wiggins, 2017 ONCA
16 BACKGROUND FACTS The parties separated on February 8, Following two years of custody and access litigation, Fiorito gained custody of their three daughters with substantial access to the daughters. Fiorito did not comply with the access provisions of the agreed settlement. Wiggins brought a contempt motion, heard together with a custody and access trial. Fiorito was held in contempt and sentenced to six months probation. There must be a review of the custody and access order: F (AM) v W (JR), 2011 ONSC
17 CONTINUED On appeal in October 2015, the Court of Appeal set aside the contempt finding and ordered another access review to be held by February 2016 and reduced costs award to $200,000. After the date of February 1, 2016 was set for the review hearing, Wiggins brought a motion for the purpose of obtaining or ensuring payment of the $200,000 costs award. o He wanted security orders and payment as a condition of proceeding with the review hearing. 17
18 CONTINUED During the review hearing, Wiggins brought a motion requesting assistance in enforcing the costs award by garnishment against the financial institutions where the mother had registered assets. o This motion was never heard as Fiorito made an assignment in bankruptcy on February 22, during the review hearing. In the bankruptcy, Fiorito claimed exempt assets of $295,600 (RRSPs) with no other assets with any value. 18
19 CONTINUED The legal effects of Fiorito s assignment in bankruptcy on Wiggins: o o o He was no longer able to enforce the costs award; Upon Fiorito s discharge, that award would be unenforceable; and Fiorito would be able to keep her RRSPs. Although RRSPs are exempt assets in bankruptcy, under Ontario law they are not exempt from creditors outside of bankruptcy, as they are not a class of property specified under the Execution Act, R.S.O 1990, c. E24. 19
20 DECISION OF THE MOTION JUDGE Wiggins brought a motion for an order annulling the bankruptcy or lifting the stay under s of the BIA, and authorizing him to continue his enforcement of the costs award against Fiorito s registered assets. The motion judge considered case law regarding lifting stays to allow a spouse to enforce an equalization claim against exempt assets, including: o Schreyer v Schreyer, 2011 SCC 35, [2011] 2 SCR 605 o Scott (Re), 2014 ONSC 5566, 51 RFL (7th) 233 o Shirkie v Shirkie, 2015 SKQB 303, 67 RFL (7th) 274 Where a bankruptcy stay was lifted to allow a spouse to pursue a family property claim against exempt assets. 20
21 CONTINUED The judge determined that Wiggins was entitled to have the stay lifted based on three factual findings: 1. This was an extreme case of one parent undermining the other parent with the children during 8 years of litigation; 2. The Court of Appeal determined that the mother should pay the father $200,000 in costs for the two trials, but she had paid nothing; and 3. When the court restrained Fiorito from disposing of her RRSPs or dissipating assets and allowed the review hearing to proceed without the payment of the costs award, the court and Wiggins relied on Fiorito s representations in her affidavits that she intended to pay the costs and did not intend to thwart that payment by making an assignment into bankruptcy. 21
22 CONTINUED The judge found that: Wiggins was likely to be materially prejudiced by the continued operation of the stay because Wiggins was likely to receive nothing towards his costs award unless the stay was lifted; Allowing Wiggins to enforce that award against Fiorito s bankruptcy-exempt assets would not affect the other creditors. 14 The difficulty with this articulation is that it describes the situation in which all of Fiorito s unsecured creditors find themselves. o Wiggins is in no different or worse a position than any other unsecured creditor. The BIA confers no special entitlement upon him McCarthy Application at para Ibid at para 43
23 CONTINUED On the alternate ground, it was equitable to grant the declaration. Because the costs debt would be released on Fiorito s discharge from bankruptcy, the discharge was to be stayed for a reasonable period of time to allow Wiggins to take the appropriate enforcement steps. 23
24 TWO MAIN ISSUES BEFORE THE COURT OF APPEAL 1. Did the motion judge err in law by lifting the stay under s of the BIA in order to allow the enforcement of a family law costs award? 2. Did the motion judge err in law by misapprehending the meaning of material prejudice and of equitable on other grounds under s of the BIA? 24
25 COURT OF APPEAL Feldman J.A. rejected Fiorito s submission that differential treatment is a requirement for material prejudice. HOLDING: Material prejudice can either arise when the bankruptcy would treat a creditor unfairly, differently or in some way worse than other creditors, or from the size of the debt and the expected loss. This case satisfied the first test: The motion judge made three factual findings that differentiated [Mr. Wiggins] s position from that of other creditors and demonstrated the unfairness he faced: (i) the need for [Mr. Wiggins] to pursue lengthy custody and access litigation in order to have any relationship with his children; (ii) [Ms. Fiorito] s failure to pay anything toward the costs ordered by the Court of Appeal; and (iii) the fact that [Ms. Fiorito] thwarted the enforcement of the costs award by reneging on assurances she made to the court about her intent to pay the costs and not use bankruptcy to thwart that payment McCarthy Application at para 43 25
BIA s.267. UNCITRAL Model Law. Proposed Wording
BIA s.267 267. The purpose of this Part is to provide mechanisms for dealing with cases of cross-border insolvencies and to promote (a) cooperation between the courts and other competent authorities in
More informationSUPREME COURT OF NOVA SCOTIA IN BANKRUPTYCY AND INSOLVENCY Citation: Melanson (Re), 2018 NSSC 279
SUPREME COURT OF NOVA SCOTIA IN BANKRUPTYCY AND INSOLVENCY Citation: Melanson (Re), 2018 NSSC 279 Date: 20181102 Docket: Hfx No. 470416 (B-41611) Registry: Halifax In the Matter of the Proposal of Barclay
More informationONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST. IN THE MATTER OF THE COMPANIES CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c.
ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST Court File No. CV-15-10832-00CL IN THE MATTER OF THE COMPANIES CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN
More informationSUPREME COURT OF NOVA SCOTIA IN BANKRUPTCY AND INSOLVENCY. Citation: Mullen (Re), 2016 NSSC 203
SUPREME COURT OF NOVA SCOTIA IN BANKRUPTCY AND INSOLVENCY Citation: Mullen (Re), 2016 NSSC 203 Date: August 3, 2016 Docket: Halifax No. 38044 Estate No. 51-1847649 Registry: Halifax In the Matter of the
More informationThe Interest Stops Rule: Is Nortel the Last Word?
The Interest Stops Rule: Is Nortel the Last Word? Matt Aleksic Western University Overview In the Supreme Court case Canada 3000, Binnie J declared that, a CCAA 1 filing does not stop the accrual of interest.
More informationONTARIO LABOUR RELATIONS BOARD
ONTARIO LABOUR RELATIONS BOARD 2091-03-R United Food and Commercial Workers Union, Local 175, Applicant v. MGI Packers Inc.; Maple Freezers Limited; Continental Trading Company Limited; Continental Meat
More informationPage: 1 PROVINCE OF PRINCE EDWARD ISLAND PRINCE EDWARD ISLAND COURT OF APPEAL
Page: 1 PROVINCE OF PRINCE EDWARD ISLAND PRINCE EDWARD ISLAND COURT OF APPEAL Citation: E.R.I. Engine v. MacEachern 2011 PECA 2 Date: 20110107 Docket: S1-CA-1195 Registry: Charlottetown BETWEEN: STEVEN
More informationFACTUM OF THE APPLICANT (Initial Application)
ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST) Court File No.: IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE
More informationCourt of Queen's Bench of Alberta
Court of Queen's Bench of Alberta Citation: Da Silva v River Run Vistas Corporation, 2016 ABQB 433,, ALSER1"A.,...ALGARl, L~----------- nate: Docket: 1401 06279, BBE01 435267, BBE01 435262 Registry: Calgary
More informationONTARIO SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY) [COMMERCIAL LIST]
ONTARIO SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY) [COMMERCIAL LIST] Court File No.31-2016058 Estate No. 31-2016058 IN THE MATTER OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, c. B-3,
More informationReceivership Orders Where Do We Go From Here?
Receivership Orders Where Do We Go From Here? by Paul Macdonald and Brett Harrison for The Canadian Institute s Advanced Forum on Turnarounds September 27, 2004 Receivership Orders Where Do We Go From
More informationBankruptcy (Amendment) 1 A BILL. i n t i t u l e d. An Act to amend the Bankruptcy Act [ ]
Bankruptcy (Amendment) 1 A BILL i n t i t u l e d An Act to amend the Bankruptcy Act 1967. [ ] ENACTED by the Parliament of Malaysia as follows: Short title and commencement 1. (1) This Act may be cited
More informationIN THE COURT OF APPEAL OF MANITOBA
Citation: MNP Ltd v Desrochers, 2018 MBCA 97 Date: 20181001 Docket: AI17-30-08933 IN THE COURT OF APPEAL OF MANITOBA Coram: Mr. Justice Marc M. Monnin Mr. Justice Christopher J. Mainella Madam Justice
More informationCase Name: Enescu v. Wawanesa Mutual Insurance Co.
Page 1 Case Name: Enescu v. Wawanesa Mutual Insurance Co. Between Cornel Enescu and 1380470 Ontario Inc., and The Wawanesa Mutual Insurance Company, Maskell Insurance Brokers Ltd. and William Maskell [2005]
More informationNOTICE OF APPLICATION
Vancouver 25-Jan-19 IN THE SUPREME COURT OF BRITISH COLUMBIA No. S1710393 Vancouver Registry IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER
More informationCONSTRUCTION AND INSOLVENCY LAW, PROCESS AND PRIORITIES THE INTERSECTION OF COMPLEX AND CONFUSING
February 2013 Construction Law Section CONSTRUCTION AND INSOLVENCY LAW, PROCESS AND PRIORITIES THE INTERSECTION OF COMPLEX AND CONFUSING By Michael P. McGraw i Introduction Two of the more specialized
More informationBANKRUPTCY (AMENDMENT) ACT
Bankruptcy (Amendment) 1 LAWS OF MALAYSIA BANKRUPTCY (AMENDMENT) ACT 2017 2 Laws of Malaysia Date of Royal Assent...... 10 May 2017 Date of publication in the Gazette......... 18 May 2017 Publisher s Copyright
More informationONTARIO SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY) IN THE MATTER OF THE PROPOSAL OF COGENT FIBRE INC.
Court File No. 31-2016058 ONTARIO SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY) IN THE MATTER OF THE PROPOSAL OF COGENT FIBRE INC. AMENDED PROPOSAL Cogent Fibre Inc. ( CFI ), hereby submits
More informationProperty Rights and Obligations
Index BANKRUPTCY. See INSOLVENCY LAW BUSINESS ASSETS Protection of from equalization, techniques for, 493-494, 499-509 Protection of from sale or serious impairment, 271-277 Tax issues and, 381-384 Valuation
More informationONTARIO SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY) [COMMERCIAL LIST]
ONTARIO SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY) [COMMERCIAL LIST] Court File No.31-2016058 Estate No. 31-2016058 IN THE MATTER OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, c. B-3,
More informationSUPREME COURT OF NOVA SCOTIA Citation: Barkhouse (Re), 2018 NSSC 101. In the Matter of The Bankruptcy & Insolvency Act, RCS. 1985, c.
SUPREME COURT OF NOVA SCOTIA Citation: Barkhouse (Re), 2018 NSSC 101 Date: 20180426 Docket: Hfx. No. 472745 Registry: Halifax In the Matter of The Bankruptcy & Insolvency Act, RCS. 1985, c. B-3, as amended
More informationConstruction Law: Recent Developments of Importance
Construction Law: Recent Developments of Importance Bruce Reynolds and James MacLellan Published in the Guide to the Leading 500 Lawyers in Canada (2002 Lexpert/American Lawyer Media) During the past year
More informationCompanies Act No. 10 of Certified on: / /20. INDEPENDENT STATE OF PAPUA NEW GUINEA. No. 10 of ARRANGEMENT OF SECTIONS.
Companies Act 1997 No. 10 of 1997. Companies Act 1997. Certified on: / /20. INDEPENDENT STATE OF PAPUA NEW GUINEA. No. 10 of 1997. Companies Act 1997. ARRANGEMENT OF SECTIONS. 1. Compliance with Constitutional
More informationBankruptcy, financial agreements and the rights of creditors
BA NKRUP T C Y A ND I NS O L V ENC Y Bankruptcy, financial agreements and the rights of creditors J A CK Y CA MPB EL L, A PRI L 2 0 1 6 The Full Court of the Family Court of Australia in Grainger & Bloomfield
More informationA GUIDE TO CHAPTER 9 OF THE BANKRUPTCY CODE: WHAT YOU NEED TO KNOW
A GUIDE TO CHAPTER 9 OF THE BANKRUPTCY CODE: WHAT YOU NEED TO KNOW By: Judith Greenstone Miller Paul R. Hage June, 2013 If Kevin Orr, the Emergency Manager for the City of Detroit, is unable to effectuate
More informationPresented by: David McNevin Miller Canfield LLP AND. Joe Vernon Miller canfield paddock and stone LLP
Presented by: David McNevin Miller Canfield LLP AND Joe Vernon Miller canfield paddock and stone LLP When will courts enforce foreign judgments? Bars to enforcement Limitation Period How to enforce a foreign
More informationLAWS3014 Insolvency Law Summary (Concise)
LAWS3014 Insolvency Law Summary (Concise) Contents Administering Bankruptcies... 5 Introduction to Bankruptcy... 6 Purposes of Bankruptcy... 6 History of bankruptcy law... 6 Modern bankruptcy law:... 6
More informationThe Enforcement of Foreign Judgments Act
1 ENFORCEMENT OF FOREIGN JUDGMENTS c. E-9.121 The Enforcement of Foreign Judgments Act Chapter E-9.121 of the Statutes of Saskatchewan, 2005 (effective April 19, 2006), as amended by the Statutes of Saskatchewan,
More informationWinding up by court 568. Application of Chapter 569. Circumstances in which company may be wound up by the court
PART 11 WINDING UP CHAPTER 1 Preliminary and interpretation 559. Interpretation (Part 11) 560. Restriction of this Part 561. Modes of winding up general statement as to position under Act 562. Types of
More informationFACTUM OF THE APPLICANT (Motion Returnable June 16, 2016)
Court File No.: CV-16-11410-00CL ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST) IN THE MATTER OF THE COMPANIES CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF PHOENIX
More informationALBERTA OFFICE OF THE INFORMATION AND PRIVACY COMMISSIONER
ALBERTA OFFICE OF THE INFORMATION AND PRIVACY COMMISSIONER Report of an Investigation into the Collection and Disclosure of Personal Information January 7, 2008 Alberta Motor Association Insurance Company
More informationIN THE SUPREME COURT OF BRITISH COLUMBIA
IN THE SUPREME COURT OF BRITISH COLUMBIA Citation: Walter Energy Canada Holdings, Inc. (Re), 2018 BCSC 1135 Date: 20180709 Docket: S1510120 Registry: Vancouver In the Matter of the Companies Creditors
More informationCHARGING ORDERS INTRODUCTION AND PROCEDURE. Tom Morris
CHARGING ORDERS INTRODUCTION AND PROCEDURE Tom Morris tmorris@landmarkchambers.co.uk Overview (1) General principles (2) The court s discretion (3) Procedure for obtaining a charging order (1) Introduction:
More informationCase Name: CEJ Poultry Inc. v. Intact Insurance Co.
Page 1 Case Name: CEJ Poultry Inc. v. Intact Insurance Co. Counsel: RE: CEJ Poultry Inc., and Intact Insurance Company and The Dominion of Canada General Insurance Company [2012] O.J. No. 3005 2012 ONSC
More informationLimitations Act, 2002: Issues of Concern to Trustees in Bankruptcy
Limitations Act, 2002: Issues of Concern to Trustees in Bankruptcy by Doug Palmateer and John Swan Aird & Berlis LLP June 2005 Notice to Readers: A. Introduction The discussion of the law in this memorandum
More informationINSOLVENCY STATUTORY MATERIALS FOR DISCUSSION IN LECTURE 12 ON 15 AUGUST 2017 CORPORATIONS ACT 2001 STATUTORY DEMANDS
INSOLVENCY STATUTORY MATERIALS FOR DISCUSSION IN LECTURE 12 ON 15 AUGUST 2017 CORPORATIONS ACT 2001 STATUTORY DEMANDS Part 5.4 Winding up in insolvency Division 1 When company to be wound up in insolvency
More informationAdam BOGER, Marc RICHARDS, Elise SELINGER, Jay WESTERMEIER
Question Q241 National Group: Title: Contributors: Reporter within Working Committee: United States of America IP licensing and insolvency Adam BOGER, Marc RICHARDS, Elise SELINGER, Jay WESTERMEIER Marc
More informationBANKRUPTCY (DÉSASTRE) (JERSEY) LAW 1990
BANKRUPTCY (DÉSASTRE) (JERSEY) LAW 1990 Revised Edition Showing the law as at 1 January 2018 This is a revised edition of the law Bankruptcy (Désastre) (Jersey) Law 1990 Arrangement BANKRUPTCY (DÉSASTRE)
More informationUnannotated Statutes of Malaysia - Principal Acts/BANKRUPTCY ACT 1967 Act 360/BANKRUPTCY ACT 1967 ACT 360
Page 1 1967 ACT 360 Incorporating all amendments up to 1 January 2007 First enacted............... 1967 (Act 55 of 1967) Revised.................. 1988 (Act 360 w.e.f. 31 December 1988) Date of coming
More informationTHE COURT OF APPEAL FOR ONTARIO. IN THE MATTER OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, c. B-3, AS AMENDED
Court File No. C60871 THE COURT OF APPEAL FOR ONTARIO IN THE MATTER OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, c. B-3, AS AMENDED AND IN THE MATTER OF THE PROPOSAL OF COGENT FIBRE INC. RESPONDENT
More informationA Claim by Any Other Name: Court Disallows 503(b)(9) Claims Under Section 502(d) Daniel J. Merrett Mark G. Douglas
A Claim by Any Other Name: Court Disallows 503(b)(9) Claims Under Section 502(d) Daniel J. Merrett Mark G. Douglas A new administrative-expense priority was added to the Bankruptcy Code as part of the
More informationChapter 4 Creditors Voluntary Winding Up Application of Chapter. MKD/096/AC#
[PART 11 WINDING UP Chapter 1 Preliminary and Interpretation 549. Interpretation (Part 11). 550. Restriction of this Part. 551. Modes of winding up - general statement as to position under Act. 552. Types
More informationPROPOSED AMENDMENTS TO 28 U.S.C. 157 AND 158 IN RESPONSE TO STERN v. MARSHALL, 131 S. Ct (2011)
PROPOSED AMENDMENTS TO 28 U.S.C. 157 AND 158 IN RESPONSE TO STERN v. MARSHALL, 131 S. Ct. 2594 (2011) Approved by the National Bankruptcy Conference 2012 Annual Meeting November 9, 2012 Proposed Amendments
More informationPapua New Guinea Consolidated Legislation
1 of 229 07/10/2011 13:13 Home Databases WorldLII Search Feedback Papua New Guinea Consolidated Legislation You are here: PacLII >> Databases >> Papua New Guinea Consolidated Legislation >> Companies Act
More informationTable of Contents. Foreword... v Preface... vii Acknowledgement... ix Editor & Contributing Editor... xi Contributors... xiii
Table of Contents Foreword... v Preface... vii Acknowledgement... ix Editor & Contributing Editor... xi Contributors... xiii Chapter 1: Property Rights and Obligations of Married People: The Equalization
More informationSubmission on Proposed Personal Insolvency Amendments under Bill C-55
Canadian Association of Insolvency and Restructuring Professionals Association canadienne des professionnels de l insolvabilité et de la réorganisation Submission on Proposed Personal Insolvency Amendments
More informationSUPREME COURT OF NOVA SCOTIA Citation: Wamboldt Estate v. Wamboldt, 2017 NSSC 288
SUPREME COURT OF NOVA SCOTIA Citation: Wamboldt Estate v. Wamboldt, 2017 NSSC 288 Date: 20171107 Docket: Bwt No. 459126 Registry: Bridgewater Between: Michael Dockrill, in his capacity as the executor
More information557. Hearing of proceedings otherwise than in public Power of court to order the return of assets which have been improperly transferred.
557. Hearing of proceedings otherwise than in public. 558. Power of court to order the return of assets which have been improperly transferred. 559. Reporting to Director of Corporate Enforcement of misconduct
More information2010 No. BANKRUPTCY. The Protected Trust Deeds (Scotland) Amendment Regulations 2010
Draft Regulations laid before the Scottish Parliament under section 72(2) of the Bankruptcy (Scotland) Act 1985 for approval by resolution of the Scottish Parliament. SCOTTISH STATUTORY INSTRUMENTS 2010
More informationThe purpose of this book is to outline, at an introductory level, bankruptcy
1 Overview of the Canadian Bankruptcy and Insolvency Regime I. Introduction The purpose of this book is to outline, at an introductory level, bankruptcy and insolvency law in Canada, the various avenues
More informationINTERNATIONAL HI-TECH INDUSTRIES INC., Appellant, and. Motions heard on April 23, 2014, at Vancouver, British Columbia
BETWEEN: Docket: 2013-1150(GST)G INTERNATIONAL HI-TECH INDUSTRIES INC., Appellant, and HER MAJESTY THE QUEEN, Respondent. Motions heard on April 23, 2014, at Vancouver, British Columbia Appearances: Before:
More informationBALFOUR & MANSON ANNUAL FAMILY LAW CONFERENCE 4 MARCH 2013 HELP, MY EX HAS BEEN SEQUESTRATED!
BALFOUR & MANSON ANNUAL FAMILY LAW CONFERENCE 4 MARCH 2013 HELP, MY EX HAS BEEN SEQUESTRATED! Introduction [1] It was only a matter of time before recession meant that sequestration had an impact on financial
More informationSUPREME COURT OF QUEENSLAND
SUPREME COURT OF QUEENSLAND CITATION: Gemini Nominees Pty Ltd v Queensland Property Partners Pty Ltd ATF The Keith Batt Family Trust [2007] QSC 20 PARTIES: GEMINI NOMINEES PTY LTD (ACN 011 020 536) (plaintiff)
More informationEnforcement of Foreign Orders Under Chapter 15
Enforcement of Foreign Orders Under Chapter 15 Jeanne P. Darcey Amy A. Zuccarello Sullivan & Worcester LLP June 15, 2012 CHAPTER 15: 11 U.S.C. 1501 et seq. Purpose of chapter 15 is to Provide effective
More informationONTARIO SUPERIOR COURT OF JUSTICE DIVISIONAL COURT J. WILSON, KARAKATSANIS, AND BRYANT JJ. ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )
Ministry of Attorney General and Toronto Star and Information and Privacy Commissioner of Ontario, 2010 ONSC 991 DIVISIONAL COURT FILE NO.: 34/09 DATE: 20100326 ONTARIO SUPERIOR COURT OF JUSTICE DIVISIONAL
More informationSUPERIOR COURT OF JUSTICE IN BANKRUPTCY AND INSOLVENCY
SUPERIOR COURT OF JUSTICE IN BANKRUPTCY AND INSOLVENCY January 13, 2006 In the Matter of the Bankruptcy of Ascent Ltd., of the City of Mississauga, in the Province of Ontario Estate No.: 32-149265 Counsel:
More informationHA-N EY ) k -;,' 1, Court File No ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST) THE HONOURABLE MR- TUESDAY, THE 29TH DAY
Court File No. 32-2274852 THE HONOURABLE MR- ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST) TUESDAY, THE 29TH DAY HA-N EY ) JUSTICE ) OF AUGUST, 2017 --1;rRIOR i6 e3\n / i _-:., i 1,2 k -;,' 1,,.,
More informationCase acs Doc 52 Filed 08/20/15 Entered 08/20/15 16:11:30 Page 1 of 14 UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF KENTUCKY
Case 14-34747-acs Doc 52 Filed 08/20/15 Entered 08/20/15 16:11:30 Page 1 of 14 UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF KENTUCKY In re: ) ) CLIFFORD J. AUSMUS ) CASE NO. 14-34747 ) CHAPTER 7
More informationCHAPTER INTERNATIONAL TRUST ACT
SAINT LUCIA CHAPTER 12.19 INTERNATIONAL TRUST ACT Revised Edition Showing the law as at 31 December 2008 This is a revised edition of the law, prepared by the Law Revision Commissioner under the authority
More informationSUPREME COURT OF PRINCE EDWARD ISLAND. E.R.I. Engine Rebuilders Incorporated. Steven W. MacEachern and J. Walter MacKinnon Limited
SUPREME COURT OF PRINCE EDWARD ISLAND Citation: ERI v MacEachern 2010 PESC 02 Date: 20100111 Docket: S1 GS-22994 Registry: Charlottetown Between: And: E.R.I. Engine Rebuilders Incorporated Steven W. MacEachern
More informationTHE COLLEGE OF LAW THE IMPORTANCE OF FINANCIAL DISCLOSURE IN FAMILY LAW MATTERS DATE: 27 FEBRUARY 2007
THE COLLEGE OF LAW THE IMPORTANCE OF FINANCIAL DISCLOSURE IN FAMILY LAW MATTERS DATE: 27 FEBRUARY 2007 David Blackah Watson & Watson Level 9, 300 George Street Sydney NSW 2000 Telephone: (02) 9221 6011
More informationCCAA: Cross Border Insolvency and Re IMRIS
CCAA: Cross Border Insolvency and Re IMRIS Sam Gabor Wednesday, December 2, 2015 MBA Bankruptcy & Insolvency Section Meeting Topic: Joint Session with MAIRP Agenda 1. CCAA - Cross Border Insolvency 2.
More informationGlobal Restructuring & Insolvency Guide
Global Restructuring & Insolvency Guide Singapore Overview and Introduction Given the notable preference of creditors and stakeholders in companies for restructuring as opposed to liquidation, this chapter
More informationCase DHS Doc 13-4 Filed 01/30/13 Entered 01/30/13 15:19:17 Desc Memorandum of Law Page 1 of 13
Memorandum of Law Page 1 of 13 UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF NEW JERSEY In Re: WENDY LUBETSKY, Chapter 7 Debtor. WENDY LUBETSKY, v. Plaintiff, Case No.: 12 30829 (DHS) Adv. No.: 12
More informationAttempting to reconcile Kitchenham and Tanner: Practical considerations in obtaining productions protected by deemed and implied undertakings
Attempting to reconcile Kitchenham and Tanner: Practical considerations in obtaining productions protected by deemed and implied undertakings By Kevin L. Ross and Alysia M. Christiaen, Lerners LLP The
More informationTHE ANTIGUA AND BARBUDA INTERNATIONAL EXEMPT TRUST ACT, 2004 TABLE OF CONTENTS PART 1 PRELIMINARY
THE ANTIGUA AND BARBUDA INTERNATIONAL EXEMPT TRUST ACT, 2004 TABLE OF CONTENTS PART 1 PRELIMINARY 1. Short title 2. Definition and Interpretation 3. Validity of international trust 4. Proper law of international
More informationCase LSS Doc 5 Filed 09/20/17 Page 1 of 10 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
Case 17-50951-LSS Doc 5 Filed 09/20/17 Page 1 of 10 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: VIOLIN MEMORY, INC., Debtor. CORY S. SINDELAR and SHEON KAROL, as Distribution
More informationSURETY TODAY PRESENTATION Given by Michael A. Stover and George J. Bachrach Wright, Constable & Skeen, LLP Baltimore, MD January 8, 2018
SURETY TODAY PRESENTATION Given by Michael A. Stover and George J. Bachrach Wright, Constable & Skeen, LLP Baltimore, MD January 8, 2018 Bankruptcy: The Surety s Proof of Claim (MIKE) This is the third
More information2010 Update on Insolvency Law in Alberta
2010 Update on Insolvency Law in Alberta Prepared by Patricia Quinton-Campbell with assistance from Craig O. Alcock, Student at-law Sixth Annual Pan-Canadian Insolvency and Restructuring Law Conference
More informationUSING THE COMPANIES CREDITORS ARRANGEMENT ACT TO SETTLE CLASS ACTIONS: LESSONS OF SINO-FOREST
McLennan Ross LLP USING THE COMPANIES CREDITORS ARRANGEMENT ACT TO SETTLE CLASS ACTIONS: LESSONS OF SINO-FOREST by Graham McLennan, Q.C., ICD.D and Clarissa Dhillon, McLennan Ross LLP In class action litigation,
More informationRULE 60 ENFORCEMENT OF ORDERS
RULE 60 ENFORCEMENT OF ORDERS DEFINITIONS 60.01 In Rules 60.02 to 60.19, (a) "creditor" means a person who is entitled to enforce an order for the payment or recovery of money; (b) "debtor" means a person
More informationJUDGMENT. BPE Solicitors and another (Respondents) v Gabriel (Appellant)
Trinity Term [2015] UKSC 39 On appeal from: [2013] EWCA Civ 1513 JUDGMENT BPE Solicitors and another (Respondents) v Gabriel (Appellant) before Lord Mance Lord Sumption Lord Carnwath Lord Toulson Lord
More informationSUPERIOR COURT OF JUSTICE DIVISIONAL COURT. SWINTON, THORBURN, and COPELAND JJ. ) ) ) ) ) ) ) ) ) ) ) ) ) )
CITATION: Movati Athletic (Group Inc. v. Bergeron, 2018 ONSC 7258 DIVISIONAL COURT FILE NO.: DC-18-2411 DATE: 20181206 ONTARIO SUPERIOR COURT OF JUSTICE DIVISIONAL COURT SWINTON, THORBURN, and COPELAND
More informationOff the Beaten Path CBA-NB Mid-Winter Meeting Patrick Windle Land Registry Officer February 9, 2013
Off the Beaten Path CBA-NB Mid-Winter Meeting Patrick Windle Land Registry Officer February 9, 2013 Bankruptcy Bankruptcy and Insolvency Act ( BIA ) federal legislation Section 71 - on bankruptcy order
More informationTHE LAWS OF THE VIRGIN ISLANDS. STATUTORY INSTRUMENT No. 45 of 2005 INSOLVENCY RULES, 2005
THE LAWS OF THE VIRGIN ISLANDS STATUTORY INSTRUMENT No. 45 of 2005 INSOLVENCY RULES, 2005 Based on the Insolvency Rules, 2005 (Statutory Instrument No. 45 of 2005) and amendments made by the Insurance
More informationTake It All: The unhappy marriage of bankruptcy and financial remedies on divorce
Take It All: The unhappy marriage of bankruptcy and financial remedies on divorce Bethany Hardwick, Barrister, St John s Chambers Published on 27 April 2017 CONTENTS: A. Statutes for reference Page 2 B.
More informationPART 6: RESOLVING ISSUES AND PRESERVING RIGHTS
PART 6: RESOLVING ISSUES AND PRESERVING RIGHTS What this Part is about: This Part is designed to resolve issues and questions arising in the course of a Court action. It includes rules describing how applications
More informationCALGARY ALBERTA TREASURY BRANCHES AND ALBERTA LTD.
COURT FILE NUMBER 1601-06759 DEe 07 2ot6 COURT OF QUEEN'S BENCH OF ALBERTA JUDICIAL CENTRE OF CALGARY JUDICIAL CENTRE CALGARY PLAINTIFF ALBERTA TREASURY BRANCHES DEFENDANT CHINOOK PIPELINE INC., CHINOOK
More informationUNFAIR DISMISSALS ACT, 1977
UNFAIR DISMISSALS ACT, 1977 AN ACT TO PROVIDE FOR REDRESS FOR EMPLOYEES UNFAIRLY DISMISSED FROM THEIR EMPLOYMENT, TO PROVIDE FOR THE DETERMINATION OF CLAIMS FOR SUCH REDRESS BY RIGHTS COMMISSIONERS AND
More informationDUTIES OF BANKRUPT. 67. (1) Property of bankrupt-the property of a bankrupt divisible among his creditors shall not comprise
DUTIES OF BANKRUPT 67. (1) Property of bankrupt-the property of a bankrupt divisible among his creditors shall not comprise (a) property held by the bankrupt in trust for any other person, (b) any property,
More information$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Reserved on: 22 nd November, 2017 Pronounced on: 11 th December, 2017 POWER GRID CORPORATION
$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Reserved on: 22 nd November, 2017 Pronounced on: 11 th December, 2017 + O.M.P.(COMM.) 397/2016 POWER GRID CORPORATION OF INDIA LTD.... Petitioner Through
More informationFederal Magistrates Court (Bankruptcy) Rules
Federal Magistrates Court (Bankruptcy) Rules 1 2006 Select Legislative Instrument 2006 No. 1 We, Federal Magistrates, make the following Rules of Court under the Federal Magistrates Act 1999. Dated 30
More informationBANKRUPTCY ACT (CHAPTER 20)
BANKRUPTCY ACT (CHAPTER 20) Act 15 of 1995 1996REVISED EDITION Cap. 20 2000 REVISEDEDITION Cap. 20 37 of 1999 42 of 1999 S 380/97 S 126/99 S 301/99 37 of 2001 38 of 2002 An Act relating to the law of bankruptcy
More informationINSOLVENCY ACT, (Act No.4 of 2013) ARRANGEMENT OF SECTIONS PART I - PRELIMINARY
INSOLVENCY ACT, 2013 (Act No.4 of 2013) Sections ARRANGEMENT OF SECTIONS PART I - PRELIMINARY 1. Short title and commencement 2. Interpretation PART II - BANKRUPTCY Sub-Part I Declaration of Bankruptcy
More informationSUPREME COURT OF CANADA
SUPREME COURT OF CANADA CITATION: Newfoundland and Labrador v. AbitibiBowater Inc., 2012 SCC 67 DATE: 20121207 DOCKET: 33797 BETWEEN: Her Majesty the Queen in Right of the Province of Newfoundland and
More informationTopic. Bill Clause No. Section No. SHORT TITLE. Proposed Wording. 1. This Act may be cited as the Wage Earner Protection Program Act.
SHORT TITLE. This Act may be cited as the Wage Earner Protection Program Act. This provision provides the short title of the Act. 2() INTERPRETATION 2. () In this Act, wages includes salaries, commissions,
More informationSUPREME COURT OF NOVA SCOTIA Citation: Meredith (Re), 2018 NSSC 153. In the Matter of the Bankruptcy of Griffith Thomas Meredith DECISION
SUPREME COURT OF NOVA SCOTIA Citation: Meredith (Re), 2018 NSSC 153 Date: 20180612 Docket: Halifax, No. 471584; B-41715 Registry: Halifax In the Matter of the Bankruptcy of Griffith Thomas Meredith DECISION
More informationTO THE CREDITORS OF ALBERTA LTD., carrying on business as SPAREPARTS
KPMG Inc. 205 5th Avenue SW Suite 3100 Calgary AB T2P 4B9 Tel 403-691-8000 Fax 403-691-8008 www.kpmg.ca October 5, 2017 TO THE CREDITORS OF 1031084 ALBERTA LTD., carrying on business as SPAREPARTS Please
More informationCase Name: Manley v. Manley
Page 1 Case Name: Manley v. Manley IN THE MATTER OF a motion to set aside a default order made against a corporate garnishee for its failure to obey a notice of garnishment Between Marie Marlene Manley,
More informationEnvironmental Settlements in Bankruptcy: Practice Pointers for the Business Lawyer. A. Overview of the Bankruptcy Process
Environmental Settlements in Bankruptcy: Practice Pointers for the Business Lawyer By Jeanne T. Cohn-Connor, Esq. 1 For business lawyers, the intersection of environmental law and bankruptcy law raises
More informationCOURT OF APPEAL FOR ONTARIO
BETWEEN COURT OF APPEAL FOR ONTARIO CITATION: Intact Insurance Company v. Kisel, 2015 ONCA 205 DATE: 20150326 DOCKET: C59338 and C59339 Laskin, Simmons and Watt JJ.A. Intact Insurance Company and Yaroslava
More informationGuide to Filing a Creditor's Petition
Guide to Filing a Creditor's Petition Creditors Petition - Court Form (MS Word) This document is a brief summary of the practice and procedure in presenting a creditor's petition in the Federal Circuit
More informationINSOLVENCY & BANKRUPTCY ISSUES FOR INFORMATION TECHNOLOGY
INSOLVENCY & BANKRUPTCY ISSUES FOR INFORMATION TECHNOLOGY Michael A. Fitch, Q.C. Fasken Martineau DuMoulin LLP Suite 2100, 1075 West Georgia Street Vancouver, B.C. V6E 3G2 April 2002. * The author acknowledges
More information11 USC 361. NB: This unofficial compilation of the U.S. Code is current as of Jan. 4, 2012 (see
TITLE 11 - BANKRUPTCY CHAPTER 3 - CASE ADMINISTRATION SUBCHAPTER IV - ADMINISTRATIVE POWERS 361. Adequate protection When adequate protection is required under section 362, 363, or 364 of this title of
More informationTO THE CREDITORS OF SASKATCHEWAN LTD., carrying on business as SPAREPARTS
KPMG Inc. 205 5th Avenue SW Suite 3100 Calgary AB T2P 4B9 Tel 403-691-8000 Fax 403-691-8008 www.kpmg.ca October 5, 2017 TO THE CREDITORS OF 623735 SASKATCHEWAN LTD., carrying on business as SPAREPARTS
More informationNOTICE TO BANKRUPT (Sections 158, 159, 67.(1), 178, 198, 199, 200)
NOTICE TO BANKRUPT (Sections 158, 159, 67.(1), 178, 198, 199, 200) You are hereby notified of the duties imposed upon you by the Bankruptcy and Insolvency Act and certain other features of this Act that
More informationI. ZNAMENSKY SELEKCIONNO-GIBRIDNY CENTER LLC V.
(Press control and right arrow for the same effect) (Press control and left arrow for the same effect) znamensky X Français English Home > Ontario > Superior Court of Justice > 2009 CanLII 51197
More informationGuarantee. THIS DEED is dated. 1. Definitions and Interpretation. 1.1 Definitions. In this Deed:
Guarantee THIS DEED is dated 1. Definitions and Interpretation 1.1 Definitions In this Deed: We / us / our / the Lender Bank of Cyprus UK Limited, trading as Bank of Cyprus UK, incorporated in England
More informationIn this matrimonial proceeding, defendant-wife seeks to have the court use its civil
SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK: PART 51 --------------------------------------------------------------------X GEORGE SYKES, Index No. 313085/2010 Mot. Seq. No. 003 Plaintiff,
More informationTHE PROPOSED NEW BRUNSWICK JUDGMENT ENFORCEMENT ACT QUESTIONS AND COMMENTS
THE PROPOSED NEW BRUNSWICK JUDGMENT ENFORCEMENT ACT QUESTIONS AND COMMENTS JUDGMENT ENFORCEMENT ACT -- QUESTIONS AND COMMENTS 1. Pre-Judgment Remedies. The draft NBJEA proposes a system of pre-judgment
More information