A curation of recent Canadian insolvency-focused articles.

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.

The Bluberi Case: How to Approach Litigation Funding in Insolvency

Patrice Benoit and Geneviève Cloutier of Gowling WLG share that the Court of Appeal of Quebec has overturned the decision of the lower court in the highly anticipated Bluberi case and note that the case will now serve as an example to debtors, litigation funders and creditors that when the only ”raison d’être” of the debtor is the pursuit of litigation, or when such litigation is at the core of any arrangement, pursuit of that litigation requires the approval of creditors.

Clarity in Appeal Procedures: The BIA Prevails

Monica Carinci, Steven Graff, Kyle Plunkett and Miranda Spence of Aird & Berlis explain recent decision of the Ontario Court of Appeal that definitively answers the question of which appeal procedure must be followed in appeals of Orders made in proceedings constituted under both the Bankruptcy and Insolvency Act  and the Courts of Justice Act

Don’t Believe What You’ve Heard: Provincial statutory trusts do survive bankruptcy

Matthew Lerner and Scott Rollwagen of Lenczner Slaght weigh in on the recent Court of Appeal decision in The Guarantee Company of North of America v Royal Bank of Canada, noting that the decision has upset the long-standing conventional wisdom among bankruptcy and insolvency practitioners in Ontario about the fate of provincially-created statutory trusts in bankruptcy.

Transferring Assets in a Receivership in Canada? Is it Vested or Not?

Steve Weisz, Caitlin Fell and Alex Don of Brauti Thorning Zibarras explain what is at issue in the highly anticipated Third Eye Capital appeal, noting that the decision will significantly impact all parties to restructuring proceedings, including purchasers of distressed assets going forward.