Regional news: Canada
Boart Longyear schemes sanctioned in Australia
Australian mining group Boart Longyear has won court approval for two schemes of arrangement in Sydney that aim to convert about US$795 million of debt into equity – while plans to redomicile in Canada continue apace.
17 September 2021
Bankrupt gold miners seek US$1m daily fines against Kyrgyz government
Two bankrupt subsidiaries of Canadian miner Centerra Gold have asked a New York court to fine the Kyrgyz government US$1 million a day for “blatantly” undermining their Chapter 11 proceedings.
27 August 2021
Cassels snags Norton Rose partner in Toronto
Canadian law firm Cassels Brock & Blackwell has hired the chair of Norton Rose’s Toronto litigation group, Alan Merskey, who has credits on the Nortel Networks and Sears bankruptcies.
20 August 2021
Boart Longyear seeks New York recognition ahead of Canada move
Australian mining group Boart Longyear is seeking Chapter 15 recognition of two schemes of arrangement to slash its US$900 million debt pile – and has revealed plans to complete a previously-announced redomiciliation to Canada.
18 August 2021
Canadian trustee seeks bankruptcy recognition in Oregon
The trustee of a Canadian entrepreneur has sought recognition of his bankruptcy in the US, amid a regulatory investigation into financing provided to a company he founded to connect Alaska and Alberta by railway.
16 August 2021
Crowell & Moring hires partner in New York
Crowell & Moring has bolstered its New York restructuring offering after hiring a Duane Morris partner with credits on the Pacific Andes and Hertz bankruptcies.
06 August 2021
Cannabis producer secures CCAA plan
Canadian cannabis producer CannTrust has secured court approval for an amended CCAA restructuring plan, after a previous version was rejected as unfair to co-defendants in securities litigation faced by the company.
20 July 2021
Italian shipper seeks Australian recognition following seizure threats
Italian shipping firm Michele Bottiglieri Armatore has won an interim injunction in Australia over fears an Irish investment fund is preparing to arrest one of its vessels, following failed efforts in China and Canada.
14 July 2021
Kyrgyz Republic challenges Sullivan & Cromwell appointment
Central Asia’s Kyrgyz Republic is challenging attempts by a pair of gold miners to appoint Sullivan & Cromwell as their Chapter 11 counsel, arguing that the firm’s simultaneous representation of their sole shareholder has caused an “adverse interest”.
12 July 2021
Cannabis producer’s CCAA plan is unfair, court says
Canadian cannabis producer CannTrust has had its Companies' Creditors Arrangement Act plan rejected, after a court found it to be unfair and unreasonable to co-defendants who failed to settle securities claims against the group.
30 June 2021