Regional news: Canada

Kyrgyz gold miners seek US protection following “unjustified” state seizure

Canadian mining company Centerra Gold has placed two of its Kyrgyzstan units into bankruptcy in New York, claiming a mine they operate has been unjustifiably seized by the former Soviet republic.

01 June 2021

Force India sponsor loses High Court appeal

A former sponsor of Formula One team Force India, Austrian water treatment company BWT Aktiengesellschaft, has been barred on appeal from submitting part of its proof of debt claim in the team’s UK liquidation.

20 May 2021

Stoneway noteholders prepare for US-Canada venue fight

Senior noteholders of Argentine power plant operator Stoneway Capital have asked a US court to let them contest the abandonment of its Canadian proceedings, less than a month after the company sought Chapter 11 protection in New York.

04 May 2021

Osler advising as US cannabis producer completes restructuring

Nevada-based cannabis producer Flower One has temporarily delisted its debentures in Canada so it can implement a restructuring; and struggling Canadian cannabis company CannTrust has secured an US$18 million credit facility in Ontario.

21 April 2021

Recognition of US judgment upheld in Canada

A Canadian footwear company will have to pay the professional costs of a US affiliate’s Chapter 11 case, after failing to overturn the recognition of a Nevada judgment in Saskatchewan on appeal.

20 April 2021

HSBC strikes out two Stanford Ponzi scheme claims on appeal

Liquidators of the Stanford International Bank Ponzi scheme will neither be able to bring a dishonest assistance claim, nor a Quincecare damages claim against HSBC for money it paid out to creditors before the scheme was wound-up, after a double success on appeal for the Hong Kong and Shanghai bank.

15 April 2021

Cryptocurrency is property, rules Canadian court

In the first Canadian case of its kind, cryptocurrency has been recognised as “property” under the country’s Business and Insolvency Act.

14 April 2021

Texas court recognises Just Energy’s CCAA process

A Texas bankruptcy court has granted full recognition to Canadian retail energy provider Just Energy’s CCAA proceedings, which were triggered by the unprecedented winter storms and skyrocketing electricity prices in Texas in February.

09 April 2021

Argentine power provider enters Chapter 11

Power plant operator Stoneway Capital Corporation has applied for Chapter 11 protection in the US and is likely to abandon its Canadian restructuring, after environmental claims filed against it in Argentina prevented the extension of a standstill agreement with creditors.

08 April 2021

Fried Frank continues growth with New York hire

Weeks after Mandip Englund joined its London restructuring group, Fried Frank has hired veteran Kasowitz Benson Torres partner Adam Shiff in New York.

06 April 2021

Get unlimited access to all Global Restructuring Review content