Dilina Lallani

The applicants in a CCAA proceeding brought a motion seeking approval of a distribution of remaining proceeds, targeted third-party releases, approval of the Monitor's reports and fees, and termination of the CCAA proceedings.

The court approved the distribution to the DIP Lender, noting it was unopposed and justified given the emergency financing provided.

However, the court found the proposed scope of the third-party releases impermissibly broad, as it purported to release claims unrelated to the restructuring.

The court directed that the release language be narrowed to tie specifically to activities contributing to the CCAA proceedings.

The moving parties (appellants) sought a stay of several endorsements pending their appeal of an order directing a buyout of their shares in a condominium development project.

The underlying dispute involved mutual allegations of oppression between two 50% shareholders.

The court applied the RJR-MacDonald test for a stay pending appeal.

It found no serious issue to be tried, noting the broad discretion of the motion judge under the OBCA.

While acknowledging that loss of mortgage security could constitute irreparable harm, the court concluded that the balance of convenience strongly favoured the respondents, who risked losing $25 million in financing and the entire buyout transaction if the stay were granted.

The motion for a stay was dismissed.

A receiver appointed over Wynn Realty Corporation sought approval of a proposed distribution of recovered funds to the plaintiff and intervenors who initiated the receivership.

The insurance coverholder objected, asserting subrogated and assigned claims on behalf of the insurer for amounts paid to fraud victims under a mandatory consumer deposit insurance policy.

The court rejected both the subrogation claim and the assignment-based claim, finding that the common law prohibition against insurers suing their own insureds applies and cannot be circumvented through assignments.

However, the court determined that the proposed distribution improperly excluded other similarly situated consumers and directed that all known consumers be included in an equitable distribution.

The court considered whether to dismiss a bankruptcy application brought by Bioventus, LLC against Trindent Consulting Management International Inc. under section 43(7) of the Bankruptcy and Insolvency Act, in light of Trindent’s prior U.S. Chapter 7 bankruptcy.

The court found that Canadian law allows for concurrent insolvency proceedings and that the statutory remedies under the BIA are not property of the debtor’s estate.

The motion to dismiss was denied, and the bankruptcy application may proceed.

The decision addresses motions regarding the appointment of representative counsel for current and former employees and retirees of Hudson’s Bay Company ULC and related entities in ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings.

The Court declined to appoint any of the nominated law firms as representative counsel at this stage, instead appointing the Honourable Herman Wilton-Siegel as an independent third party to evaluate proposals and make a recommendation.

The Court also approved amendments to the Sale and Investment Solicitation Process (SISP) to remove the company’s art and artifact collection from the SISP and to appoint Heffel Gallery Limited to conduct a separate auction for the collection, subject to further court approval of procedures.

The reasons review the legal framework for appointing representative counsel and the importance of balancing stakeholder interests in complex insolvency proceedings.

This decision concerns the transition of the receivership of the "The One" development project at Yonge and Bloor in Toronto to Companies’ Creditors Arrangement Act (CCAA) proceedings.

The court granted a discharge order for the receiver, an initial CCAA order, and approved a transaction with Tridel Builders Inc. for project completion.

The court also denied an adjournment request from a late-appearing stakeholder, approved the appointment of a monitor and chief restructuring officer, and authorized various charges and reliefs to facilitate restructuring and maximize value for stakeholders.

This endorsement grants a brief adjournment in the Companies’ Creditors Arrangement Act (CCAA) proceedings involving Hudson’s Bay Company ULC and related entities, following ongoing discussions between the applicants and stakeholders.

The court extends the stay of proceedings, increases the Directors’ Charge, amends the relative priorities of charges, and approves the engagement of Reflect Advisors, LLC as financial advisor.

The court finds the requested relief appropriate, unopposed, and supported by the Monitor, and orders the requested amendments to the Initial Order.

This decision sanctions the CCAA Plans of Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, JTI-Macdonald Corp., and Rothmans, Benson & Hedges Inc., effecting a global settlement of all tobacco-related claims in Canada.

The court reviews the structure, allocation, and fairness of the plans, including the creation of a $1 billion Cy-près Foundation, and addresses objections from social stakeholders.

The court finds the plans fair, reasonable, and in the public interest, and grants the requested relief, including third-party releases and the appointment of plan administrators.

This decision addresses three motions in the receivership of the Bridging Funds: (1) the Receiver’s motion for an interim distribution to unitholders, (2) approval of a settlement with the BlackRock Parties, and (3) the unitholders’ motion for a constructive trust.

The court approved the interim distribution but required a sufficient reserve for the disputed Cerieco claim until its final determination.

The BlackRock settlement was approved.

The constructive trust motion was deferred pending resolution of the Cerieco claim.

The decision provides detailed guidance on the treatment of creditor and unitholder claims in a complex receivership under the Securities Act.