Use of “Guillotine” Orders in CCAA Proceedings

Trevor Courtis of McCarthy Tétrault shares that the British Columbia Supreme Court has, for the first time in a CCAA proceeding, imposed a “guillotine” order in Teal Jones after requiring a failed bidder to post security for costs and providing that its challenge to a forfeited deposit would be automatically dismissed if it missed the deadline, highlighting a powerful but sparingly used tool to keep restructurings moving.

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