Regional news: Canada
Canadian gold miner enters bankruptcy after failed restructuring
Gold miner Great Panther has filed for bankruptcy after its major creditor, a subsidiary of Japanese metals conglomerate Asahi, persuaded a Canadian court to lift the stay that was protecting the company while it attempted to restructure under the Companies Creditors Arrangement Act.
05 January 2023
Colorado Ch15 planned as construction group files in Canada
A US subsidiary of Calgary-based construction company Nilex has been dragged into Canadian bankruptcy proceedings by its parent to sell its US assets, with the group revealing plans to seek Chapter 15 recognition of the sale in Colorado.
30 November 2022
Canadian Supreme Court upholds insolvency court's power to find arbitration clauses inoperative
Canadian insolvency legislation empowers courts to consider arbitration clauses inoperative if enforcing them would compromise a receivership and hurt creditors, the country's top court has said, in a case that would otherwise have required EY as receiver to use funds from an insolvent contractor’s estate to pursue at least four arbitrations with seven different sets of parties.
25 November 2022
Endo affiliate Astora’s Chapter 11 fully recognised in Australia
An affiliate of the Endo pharma group has secured recognition of its Chapter 11 in Australia, a month after it was granted interim relief staying personal injury claims from women who allege they have suffered complications from its transvaginal mesh products.
31 October 2022
Canadian court recognises second day orders in Endo Ch11
A Canadian subsidiary of troubled US pharmaceuticals group Endo International and some of its local affiliates have secured recognition of a series of second day orders issued in its ongoing Chapter 11 restructuring.
24 October 2022
Nevada-based cannabis group enters CCAA
Struggling US cannabis producer Flower One’s Canadian parent has secured protection under Canada’s Companies’ Creditors Arrangement Act after restructuring two sets of Canada-listed debentures and its term debt over the last two years.
19 October 2022
Mina Tucano secures Ch15 recognition, Canadian parent converts bankruptcy
Gold miner Mina Tucano's Brazilian judicial reorganisation has been recognised in New York, as its Canadian parent converted its own bankruptcy to Companies Creditors Arrangement Act proceedings – but a creditor now appears to seeking to place the parent back in bankruptcy.
19 October 2022
Latham advising as Bang energy drink owner files Ch11 in Florida
The owner of US energy drink Bang is seeking bankruptcy protection in Miami to overhaul its distribution system and stay a host of litigation, including trademark infringement and false advertising claims from a rival company.
11 October 2022
Global gas group seeks Ch15 recognition of Canadian restructuring
Updated: Toronto-listed sustainable gas provider Xebec Adsorption is seeking US recognition of its Canadian restructuring to preserve the group’s operations while it implements a sale and investment solicitation process.
03 October 2022
Cineworld to seek Ch11 recognition in UK and Turkey, stay imposed in Canada
Canadian cinema chain Cineplex has failed to modify a Chapter 11 stay so an Ontario court can hear an appeal over its botched merger with bankrupt British film conglomerate Cineworld, as a Texas bankruptcy judge expressed disappointment creditors outside the US “feel they are not bound by the worldwide injunction imposed by Congress”.
29 September 2022