Tag Archives: CCAA

The pre-filing sales process in CCAA proceedings

In a previous post we discussed how the Court of Queen’s Bench of Alberta recently authorized a sale transaction after being satisfied with the appropriateness of a sales process that was undertaken prior to the issuance of the receivership order.  A pre-filing marketing and investment process may also be used to justify a sale transaction … Continue Reading

The critical supplier remedy and the continued use of inherent jurisdiction

Section 11.4 of the CCAA requires that persons identified as critical suppliers to a debtor company continue to provide goods and services on terms and conditions with the existing supply relationship.  The policy rationale underlying section 11.4 of the CCAA is simple: a business is dependent on the ongoing supply of important products and services, … Continue Reading

Are Equity Claims Always Subordinated to Non-Equity Claims in CCAA Proceedings?

The treatment of shareholder and other equity-related claims in the context of insolvency and reorganization proceedings in Canada was initially judge-determined and the case law generally accepted the premise that shareholders were not entitled to share in the assets of an insolvent corporation until after all the ordinary creditors have been paid in full.  In … Continue Reading

CCAA Debtor in Possession Financing without “Adequate Protection”

There are a number of similarities between restructuring legislation in Canada and the United States.  Each of Canada and the United States have adopted a form of the UNCITRAL Model Law Cross-Border Insolvency in order to facilitate cooperation and efficient administration of cases with an international component.  In Canada this has occurred through implementation of … Continue Reading