June 29, 2018

Supplier Beware: Appropriate Payments at Your Own Risk

Whether you’re a general contractor, a subcontractor, or a supplier, this decision regarding the application of the Builders’ Lien Act is important for your business.

NLCA Finds No Conflict of Interest Arising Where Accountants Act...

In this case, the Newfoundland & Labrador Court of Appeal considered whether a receiver is conflicted if it previously assisted the debtor in financial restructuring efforts.

Substantive Consolidation: Efficient and Equitable Restructuring of Group Companies

Gray Aqua Group of Companies, Re is a case from New Brunswick that dealt with the remedy of substantive consolidation under the Bankruptcy and Insolvency Act (BIA). Historically, courts have shown reluctance in granting consolidation and it was seen as an extraordinary remedy.

The Taxman Cometh: CRA Priorities in Insolvency Proceedings

Courts and lawmakers often refer to Canada Revenue Agency (“CRA”) as an involuntary creditor when businesses fail to make required tax payments to the governmental authority. The timely collection of taxes and payroll deductions also plays a fundamental role in the financing of government.