HBC adds an important chapter to the law on forced assignments of contracts and ipso facto clauses

David Bish, Jeremy Opolsky, Alec Angle and Alina Butt of Torys report that the Ontario Superior Court’s recent ruling in the HBC CCAA proceeding sets a new benchmark on forced contract assignments and ipso facto clauses, rejecting Central Walk’s bid to take over 25 leases and clarifying that pre-insolvency amendments conditioned on solvency do not offend the anti-deprivation rule.

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