Regional news: Canada
Revlon secures Canadian recognition amid employee lawsuits
Two Canadian subsidiaries of multinational cosmetics group Revlon have secured recognition of their Chapter 11 proceedings in Toronto, placing a stop on various employee and labour union claims.
28 June 2022
Paul Weiss, PJT and A&M advising as Revlon falls into bankruptcy
Multinational cosmetics group Revlon has sought Chapter 11 protection in New York, blaming supply chain disruption and rising inflation.
16 June 2022
Mining company files CCAA to stop Chinese creditor action
A Canadian mining company has filed Companies' Creditors Arrangement Act proceedings in British Columbia, after two Chinese state-owned creditors obtained judgments against it.
16 June 2022
Cozen hires former Blakes restructuring leader in Toronto
Philadelphia-headquartered Cozen O’Connor has made its first restructuring hire in Canada to help expand its cross-border offering for domestic and international clients with business operations across North America.
15 June 2022
Canadian court favours insolvency process over arbitration
A US-based sports management company has failed to stay a claim brought against it by insolvent advertising network Mundo Media, after a Canadian court ruled claims between the pair should be dealt with in receivership rather than by arbitration in New York.
23 May 2022
Just Energy seeks Canadian creditor meetings, pursues Texas clawback
Canadian retail energy provider Just Energy Group has sought permission from an Ontario court to convene meetings for creditors to vote on its restructuring, a week after it received permission to pursue claims against the Texas state grid operator in the US.
16 May 2022
Stoneway wins Ch11 confirmation as US Trustee objection overruled
Argentina-headquartered power plant group Stoneway Capital has won confirmation of its Chapter 11 plan after a New York court overruled an objection lodged by the US Trustee over third-party releases.
12 May 2022
Pachulski launches cannabis restructuring group
Pachulski Stang Ziehl & Jones has launched a cannabis restructuring practice, as its new leader tells GRR about the opportunities available for US creditors to enforce their rights amid a federal ban on the drug.
28 April 2022
Canadian receiver obtains emergency relief from creditors in North Dakota
An oilfield services company’s Canadian receiver has obtained temporary emergency relief from a court in North Dakota to stall a wave of creditor enforcement actions against the debtor in a local district court.
20 April 2022
Canadian developer wins Chapter 15 relief in bid to secure financing
Real estate developer Legacy Lifestyles Destin Property has secured provisional recognition of its Canadian receivership, which it says will help it obtain financing secured by its Florida-based properties.
19 April 2022