A curation of recent Canadian insolvency-focused articles.

SCC Ruling Affirms Authority to Approve Litigation Funding Agreement as Interim Financing

Sylvain Rigaud, Arad Mojtahedi and Saam Pousht-Mashhad of Norton Rose Fulbright share the news that the Supreme Court of Canada has unanimously allowed the appeal in the Bluberi v. Callidus case, which cements the use of litigation funding in the insolvency context and confirms that the CCAA judge has the discretion to determine whether a litigation funding agreement should be put to a creditors’ vote.

Trustees’ Liability under the new Mandatory Breach Notification Rules

Richard Williams of James Williams & Associates alerts readers to new regulations that bring into question whether existing protections under the BIA and model orders are sufficient to protect trustees from liability associated with the inadvertent release of personal information.

Deductibility of Professional Fees for Income Tax Purposes by a CCAA Debtor Company

Michael Basso of FTI and Derek Chiasson, Adrienne Oliver and Sylvain Rigaud of Norton Rose Fulbright note that insolvency practitioners are often asked for advice or assistance in preparing income tax returns for debtor companies and share recommendations for practitioners to follow at the onset of a filing to make the return preparation more efficient.

Receiver gets Rapped

Jessica Cameron, Josef Krüger, Robyn Gurofsky and Miles Pittman of BLG review a recent case that serves as a cautionary tale for receivers regarding the duties they owe both to the Court as a Court officer, as well as to all of a debtor's interested stakeholders.

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