SCC: Parliament must revisit bankruptcy rules upon divorce
The Supreme Court of Canada says a Manitoba man need not pay his ex-wife an equalization payment for a share of the farm they owned because he went bankrupt, but urged Parliament to re-examine...
View ArticleJudges mull fate of Nortel cash
Creditors of telecoms equipment giant Nortel Networks will find out today how the bankrupt company will proceed in ending the years-long battle over its $9 billion in cash.A Canadian and a U.S. judge...
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Joint trial for Nortel liquidation ‘best option that remains’
Despite concerns it could lead to “chaos” a joint trial announced to divvy up the $9 billion from the liquidation of Nortel Networks could be a creative solution that might just work.Last Friday, a...
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Motor vehicle cases largest area of litigation in courts
As the number of civil actions grows across Canada, motor vehicle cases remain the largest single area of litigation.Motor vehicle cases (motor tort actions concerning injury —personal or property —...
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‘Significant’ Nortel settlement gets court approval
Defunct telecoms equipment maker Nortel Networks Inc. received court approval on Tuesday for a US$75-million deal it called a “significant milestone” in ending its five-year bankruptcy.In return for...
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Alberta appeal decision upholds other ‘fresh start’ rulings
The Alberta Court of Appeal has ruled the province cannot enforce payment of debt by refusing to issue driving licences to discharged bankrupt drivers.In Moloney v Alberta (Administrator, Motor Vehicle...
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Technology making bi-national Nortel trial work
The ongoing bankruptcy trial of Nortel Networks Corp. is groundbreaking in two ways. Not only is it the largest bankruptcy case in Canadian history, but it’s also the first trial to be simultaneously...
View ArticleAppeal court strikes at the heart of 'excessive' billable hours
A precedent-setting decision at the Ontario Court of Appeal this week strikes at the heart of client concerns over the abuse of billable hours, and provides a legal framework by which clients might be...
View ArticleJudges craft own formula for Nortel’s $7.3 billion in cash
The Canadian and American judges charged with dividing the US$7.3 billion from the liquidation of Nortel Networks rejected proposals from former regional businesses and opted for a pro rata split of...
View ArticleBid to secure pensions during CCAA proceedings fails
The Ontario Court of Appeal has rejected the superintendent of financial services’ bid to provide greater security for pension provisions during the restructuring proceedings of an Ontario wood...
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SCC rules against toll-road operator in conflict over bankruptcy law
Sections of Ontario’s Highway 407 Act frustrate the purpose of financial rehabilitation under the federal Bankruptcy and Insolvency Act, the Supreme Court of Canada ruled in a decision released today....
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OCA set to rule on limits of bankruptcy protection
The Ontario Court of Appeal has set the stage for a major ruling on bankruptcy protection after striking down a lower-court decision that sought contempt proceedings against a defendant who had already...
View ArticleCHCH restructuring raises questions about under-capitalized companies
Insolvency rules are not to blame for the CHCH TV restructuring case that has left former employees of the broadcaster without severance pay, according to a Toronto lawyer who says it is instead...
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