Regional news: Canada

Canadian carpet company gets provisional Chapter 15 protection

UPDATED: Carpet maker Kraus Group has been granted protection under the Companies’ Creditors Arrangement Act in Canada, as well as provisional relief in the Delaware bankruptcy court following a Chapter 15 application.

12 September 2018

Australian mining group moves to Canada in scheme plan

Australian mining group Boart Longyear has announced its intention to re-domicile to Canada using a scheme of arrangement overseen by Grant Thornton – part of a broader restructuring of the group via a pair of heavily challenged schemes last year.

28 August 2018

Canadian drugs company enters Chapter 11 and CCAA

Ontario-based pharmaceuticals company Aralez has won debtor-in-possession financing approval as it pursues US and Canadian proceedings ahead of an asset sale.

14 August 2018

Canadian gas manufacturer files Chapter 15 in Montana

A Canadian manufacturer of industrial gasses has applied for Chapter 15 protection in Montana, along with its US subsidiary.

10 July 2018

Delaware court approves Molycorp Minerals’ US$24.6m liquidation

The bankruptcy of US mining corporation Molycorp Minerals has moved one step closer to concluding, after a Delaware court confirmed a US$24.6 million liquidation plan for its Californian rare earth mine site and other assets.

30 May 2018

Canadian court declines to approve settlement in Urbancorp case

Canadian construction group Urbancorp’s (UCI) Israeli foreign representative has failed to secure an Ontario court’s approval for a settlement that the group entered with private equity investor Terra Firma Capital over a Canadian debtor’s estate, after the court found the debtor itself had not been consulted.

21 May 2018

Guernsey scheme of arrangement gets court greenlight

A court in Guernsey has approved a US-owned slot machine manufacturer’s purchase of a recently-refinanced sports wagering company via a scheme of arrangement, saying it fulfilled the sanction criteria set out last year in the Puma Brandenburg case.

19 February 2018

Japanese and Korean judges join JIN as Ontario endorses court-to-court guidelines

The Judicial Insolvency Network’s advance has continued apace, with courts in Japan and South Korea nominating four “observers” to the network, while a group of lawyers and financial advisors in Ontario have endorsed its guidelines on court-to-court communication and cooperation.

07 February 2018

DLA Piper makes double hire in Toronto

DLA Piper has expanded its restructuring practice in Toronto, recruiting partner Edmond Lamek and associate counsel Danny Nunes from Canadian outfit WeirFoulds.

03 January 2018

Community roundup: Gibson Dunn poaches Ashurst partner in Munich

In recent weeks, international firms have shaken up their restructuring teams with new hires and promotions, an insolvency specialist has been appointed to the Canadian bar, and regional firms in the UK have expanded in anticipation of business upsets on the back of political uncertainty.

21 July 2017

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