Ontario Court of Appeal finds stalking horse agreement’s lower purchase price gives debtor company automatic right of appeal in receivership

David Bish, Adam Slavens, Jeremy Opolsky and Mike Noel of Torys summarize a recent decision where the Ontario Court of Appeal held that a debtor had an automatic right to appeal an order approving a stalking horse sale process in its receivership because the stalking horse agreement provided an approximately $6.5 million lower purchase price than a pre-filing agreement the debtor was seeking to enforce.

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