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The Ontario Superior Court of Justice has approved Canadian-Colombian oil company Pacific Exploration’s plan to sell its stake in exploration projects in Brazil as part of its restructuring efforts.
05 October 2016
Employees of the insolvent steel producer US Steel Canada cannot use the US remedy of equitable subordination in Canadian Companies’ Creditors Arrangement Act (CCAA) proceedings to prioritise their claims over those of the debtor’s US parent, an Ontario appeals court has upheld.
13 September 2016
Canadian-Colombian oil company Pacific Exploration has won court approval in Canada for its restructuring deal with Canadian financier Catalyst.
24 August 2016
A judge in Illinois has become the latest to examine the scope of a US bankruptcy court's jurisdiction, denying a motion to compel a Canadian gaming company in the throes of Chapter 15 proceedings to perform a series of contracts with a customer in the US.
15 August 2016
US, Bermudian and Canadian affiliates of the oil drilling group C&J Energy have filed for Chapter 11 protection in Texas, with securities filings revealing ancillary proceedings outside the US.
27 July 2016
A Canadian court recently recognised Israeli bankruptcy proceedings relating to Canadian property developer Urbancorp as foreign main proceedings, in what it described as “a very unusual situation” since the property developer’s centre of main interests (COMI) is not in Israel.
22 July 2016
Over the past two weeks, judges in New York have recognised foreign proceedings in Hong Kong and Canada under Chapter 15, while a further filing in the Wyly saga was registered in Texas.
13 June 2016
A Canadian court has dismissed an appeal against the pro rata distribution of a US$7.3 billion escrow fund accumulated from the sale of collapsed Canadian telecoms group Nortel’s assets.
04 May 2016
Distressed Canadian-Colombian oil company Pacific Exploration has been granted protection from creditors in Canada and will look to acquire further protection in the US and Colombia.
28 April 2016
An Israeli court has appointed a manager to draft a settlement for Israeli creditors of a distressed Canadian property developer, days after it filed for bankruptcy protection in Canada.
26 April 2016
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