Related, but not protected: Alberta court denies CCAA stay extension and permits receivership

Derek Pontin of Dentons reports that the Alberta Court of King’s Bench recently refused to extend CCAA stay protection to a related non-applicant company and instead granted receivership relief to its secured lender, highlighting that Canadian courts will only extend a CCAA stay to affiliated non-applicants where clear evidence shows the extension is necessary to support the restructuring process.

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