Restructuring & Insolvency

Restructuring & Insolvency

Corporate restructuring, workouts, receiverships, realizations and foreclosures involve a great number of detailed issues. Our reputation for successful solutions in this area of law is based on a close working relationship with our clients, and a complete familiarity with relevant legislation. Our strong working relationships with other key professionals in the field contribute to a swift, comprehensive, and practical approach to every case.

From individuals to large corporations, private lenders to major Canadian financial institutions, Cox & Palmer lawyers are experienced in all aspects of restructuring and insolvency law.

On behalf of lenders or borrowers, we act in disputes arising out of credit transactions. Such disputes may relate to:

  • Collections
  • Guarantees
  • Security assessment and realization
  • Priority of claims or the enforcement of rights in bankruptcy and receivership.

The breadth of our background in litigation is an asset in negotiating equitable out-of-court settlements and, if necessary, effectively representing our clients at trial.

Articles & Insights

SCC Provides Clarity Re Anti-Deprivation Common Law Rule

Earlier this fall, the Supreme Court of Canada (“SCC”) released its decision in Chandos Construction Ltd. v. Deloitte Restructuring Inc. (“Chandos”) . The SCC agreed with the Alberta Court of Appeal in holding that a price-reduction clause in a subcontract between Chandos and the bankrupt subcontractor violated the common law anti-deprivation rule. Chandos, a general […]

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Law Firm’s Administration Fees Disallowed in Great North Data Ltd. (Re)

Background This was an application by Benson Buffett (“BB”), legal counsel to PricewaterhouseCoopers (“PWC”) in its capacity as receiver of Great North Data Ltd. (“GND”), a failed cryptocurrency hosting company formerly based in Labrador City. Section 18 of the Bankruptcy and Insolvency General Rules, C.R.C, c. 368, says that “[a]ll bills of costs for legal […]

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Re Norcon Marine Services Ltd.: Court-appointed vs. Private-appointed Receivers

On December 30, 2019 the Supreme Court of Newfoundland and Labrador (the “NLSC”) released its decision in Re Norcon Marine Services Ltd. (“Norcon”) dismissing both an application by a debtor, Norcon Marine Services Ltd., for creditor protection under the Companies’ Creditors Arrangement Act (the “CCAA”), and a competing application by a secured creditor, the Business […]

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