Regional news: Canada
Cassels Brock & Blackwell replenishes team after Buttery’s departure
Cassels Brock & Blackwell’s restructuring and insolvency group in Vancouver has hired a partner from McMillan, just two weeks after partner Mary Buttery KC left it for Osler Hoskin & Harcourt.
27 September 2022
Two fora not appropriate: hair product dispute must be adjudicated in Canadian bankruptcy
A Canadian proposal trustee will have to adjudicate long-standing claims between a hair salon chain and product manufacturer Moroccanoil, and not the New Jersey court that has already been hearing the dispute for seven years, after an Ontario court refused to grant the trustee leave to appeal a decision stopping the parties from proceeding in two fora.
26 September 2022
Osler hires Cassels partner in Vancouver
Cassels Brock & Blackwell partner Mary Buttery KC has joined Osler Hoskin & Harcourt’s litigation team in Vancouver, bringing with her experience working on the restructurings of Finnish goldmine owner Otso and cannabis companies Sunniva and iAnthus.
14 September 2022
White & Case, Bumachar advising as gold miner files in Brazil, Canada and US
UPDATED: Gold miner Mina Tucano has entered judicial reorganisation in Brazil and sought Chapter 15 recognition in New York, while its parent has filed for bankruptcy in Canada – with White & Case, Bumachar Advogados Associados, McCarthy Tetrault and Alvarez & Marsal advising.
09 September 2022
Citibank wins appeal over US$900m Revlon blunder
A US federal appeals court has ruled that New York-headquartered Citibank can recover about US$500 million it mistakenly paid to lenders of bankrupt multinational cosmetics group Revlon two years ago.
09 September 2022
GetSwift secures recognition of Ch11 in Canada
Canada-listed GetSwift Technologies has obtained debtor-in-possession financing as it pursues an auction of its business through Chapter 11 in New York, days after it secured recognition of its US bankruptcy in Toronto.
31 August 2022
Endo secures recognition in Canada after patent set-back in US appeal court
Two Canadian affiliates of Irish-registered pharmaceutical group Endo have obtained recognition of the group’s New York bankruptcy proceedings in Toronto as it lost an appeal in the US to block a generic version of its best-selling drug.
30 August 2022
Canadian “Crypto King” set to lose crown in involuntary bankruptcy
A cryptocurrency investment company and its 23-year-old founder have been declared bankrupt by a Canadian court, a month after it froze all his assets finding he had been trying to liquidate and move them.
26 August 2022
Citibank seeks lender status in Revlon Ch11 following US$900m blunder
New York-headquartered Citibank is suing Revlon for US$500 million over allegations it was unjustly enriched when the bank mistakenly used its own money to repay one of the multinational cosmetics group’s term loans in full.
16 August 2022
Voyager accused of operating “massive” Ponzi scheme in Miami suit
Collapsed crypto network Voyager was a “house of cards, built on false promises and factually impossible representations," according to a class action complaint against US billionaire Mark Cuban and his Dallas Mavericks basketball team, who are accused of encouraging investment in the platform.
11 August 2022