In Poonian v. British Columbia (Securities Commission), the Supreme Court of Canada clarified that disgorgement orders, but not administrative fines, could survive discharge under provisions of the Bankruptcy and Insolvency Act.
In April, the British Columbia Court of Appeal (the “BCCA”) provided its reasons in Piekut v Canada (Minister of National Revenue), 2023 BCCA 181 [Piekut]. The decision added another chapter to the ongoing interprovincial conflict in jurisprudence regarding the discharge of government student loans in an insolvency pursuant to s. 178(1)(g)(ii) of the Bankruptcy and […]
The Supreme Court of Canada (“SCC”) granted leave to John Aquino, 2304299 Ontario Inc., Marco Caruso, Giuseppe Anastasio a.k.a. Joe Ana and Lucia Coccia a.k.a. Lucia Canderle (“John Aquino et al.”) on January 19th, 2023 to appeal an Ontario Court of Appeal (“ONCA”) decision, Ernst & Young Inc v Aquino, 2022 ONCA 202, from March […]
For the sake of conciseness, this case comment excludes discussion of Justice Jamal’s concurring opinion. If interested, please refer to the original case for further information. Arbitration law and bankruptcy and insolvency law are often said to be at odds with one another. The former rests upon principles of party autonomy and freedom of contract, […]
Overview In Montréal (City) v Deloitte Restructuring Inc., 2021 SCC 53, the Supreme Court of Canada (“SCC”) clarified that courts with jurisdiction over Companies’ Creditors Arrangement Act, RSC 1985 c C-36 (“CCAA”) proceedings can exercise judicial discretion to stay compensation between debts arising before and after an initial order (“pre-post compensation”). The 6-1 decision created […]
In Canada v. Canada North Group Inc., 2021 SCC 30 [Canada v CNG], the Supreme Court of Canada (“SCC”) considered whether courts can order a super-priority charge that takes primacy over Her Majesty’s interest under s. 227(4.1) of the Income Tax Act, RSC 1985, c 1 (5th Supp.) [ITA]. The decision turned on robust statutory […]
Chandos Construction Ltd v Deloitte Restructuring Inc 2020 SCC 25 (“Chandos”) explores a number of issues but the main one addresses the anti-deprivation rule and whether its application requires an effects-based test or a purpose-based test. In essence, the anti-deprivation rule does not allow contracting parties to include contractual provisions where, if one party declares […]
Introduction On January 31, 2019, the Supreme Court of Canada (“SCC” or "the Court") reached a decision on bankruptcy and insolvency law and the obligations owed by oil and gas companies that have filed for bankruptcy.
In Brunette v Legault Joly Thiffault, 2018 SCC 55 [Brunette], the Supreme Court of Canada (“SCC”) clarified a long-standing rule that bars shareholders from bringing a cause of action against a third party for faults committed against a corporation in which they hold shares. In doing so, the Court also reconciled corporate law principles from […]
Last year, TheCourt.ca conducted an in-depth review and analysis of the CIBC v Computershare, 2015 ONSC 846, mortgage fraud case. The original owners of a home had fraudulently discharged their mortgage unbeknownst to their lender, Computershare, who continued to receive regular mortgage payments. Subsequently, the owners sought another mortgage from CIBC. As title was clear, […]