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The newly legalised cannabis industry was one of the most active sources of work for Canadian restructuring practitioners over the past year. But as with any new industry, it presents a novel set of challenges - such as the treatment of cannabis licences in insolvency cases, and whether companies spanning both sides of the US–Canada border will be able to secure Chapter 15 recognition while their business remains illegal under US federal law.
17 February 2021
A Brazilian cement maker is seeking US recognition of its restructuring in New York, while the former owner of US pharmaceutical company Aegerion has asked the same court for recognition of its Canadian liquidation.
16 February 2021
Global tobacco company Pyxus has secured CCAA protection for its cannabis subsidiaries after exiting Chapter 11, while New York-based cannabis company iAnthus has seen off an appeal against its Canadian restructuring.
05 February 2021
A group of companies that operate the Japanese restaurant chain Sarku Japan in the US have entered CCAA proceedings in Canada and sought Chapter 15 recognition to make amendments across the group’s lease portfolio and close underperforming locations.
26 January 2021
Canadian womenswear retailer Groupe Dynamite has failed to secure relief from a Montreal court on rent accrued after filing CCAA proceedings, despite the closure of its stores due to covid-19.
11 January 2021
Missouri-headquartered Armstrong Teasdale has announced plans to open an office in Delaware with a four-partner hire from Elliott Greenleaf, while Jones Walker has added a bankruptcy litigator in Atlanta and Sheppard Mullin has snapped up a debt finance partner from Hogan Lovells in Los Angeles.
08 January 2021
DLA Piper has hired Jerritt Pawlyk, a former partner from Alberta firm Bishop & McKenzie, in Edmonton.
07 January 2021
A Singapore court has upheld a Mareva injunction issued against a Cayman holding company and its Canadian director, rejecting challenges to its jurisdiction over a foreign law dispute.
04 January 2021
More than two years after Japanese auto parts company Takata exited bankruptcy in the US and Japan, car manufacturers that used its faulty air bags have reached a settlement with class action plaintiffs in Canada.
04 January 2021
A Canadian court has set aside an automatic stay granted to a married couple appealing the recognition of two Cayman orders made against them, finding it hindered investigations into their assets.
14 December 2020
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