A Calgary-based oil producer has entered CCAA proceedings in its native Alberta and secured a temporary restraining order in Delaware, after signing a DIP facility and stalking horse agreement with a key creditor.
14 March 2024
The Supreme Court of British Columbia has allowed a debtor to withdraw a notice of intention to make a proposal under Canada’s Bankruptcy and Insolvency Act that was mistakenly filed by its advisers after it negotiated with a creditor out-of-court.
13 March 2024
Washington-headquartered home fitness company BowFlex has secured provisional access to a US$25 million debtor-in-possession facility, two days after entering a sale agreement with a Taiwanese equipment manufacturer and filing Chapter 11 proceedings with a newly registered New Jersey subsidiary.
06 March 2024
An Ontario court has approved a request by the Canadian arm of British cosmetic group The Body Shop for an extended stay after hearing it is facing an “immediate liquidity crisis” following a sweep of its bank accounts under a cash pooling arrangement with its UK parent company.
04 March 2024
An indigenous tribe in Canada has lost a bid to appeal orders denying it leave to intervene in an opioid class action brought against Purdue Pharma and approving a settlement reached between the pharma group and a class of Canadian governments.
29 February 2024
Global tourism and transportation group Hornblower has received interim approval to access two debtors-in-possession facilities after a judge in Texas said the fact the loans would provide stability and an exit plan was “far more important” to him than the cost of the borrowing.
27 February 2024
A longtime Paul Weiss partner who represented Mexican broadcaster TV Azteca in a bankruptcy forum dispute last year is set to move to New York-based litigation boutique Selendy Gay.
21 February 2024
A Canadian media group has secured partial recognition of its CCAA proceedings but a Delaware court declined to recognise proceedings relating to three of its US subsidiaries, agreeing with a government pension insurance company that their COMI is in the US.
16 February 2024
The British Virgin Islands liquidators of a Three Arrows Capital feeder fund have filed Chapter 15 proceedings in New York, while the bankruptcy court in Delaware has recognised the Canadian restructurings of green construction company Nexii and immersive movie group SimEx.
14 February 2024
A judge in Quebec has told a proposed class representative of a group of Canadian plaintiffs with opioid-related claims against Irish pharma group Endo that he should have taken his grievances to New York where the group’s Chapter 11 proceedings are playing out.
25 January 2024
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