Jake Harris

The appellant appealed an interlocutory order of the Superior Court refusing to order payment into court of a "costs reserve." The Court of Appeal held it lacked jurisdiction over the appeal, characterizing the order as interlocutory and akin to an order dismissing a motion for security for costs.

The court directed that an appeal from such an order must be brought to the Divisional Court, with leave.

Costs were awarded to the respondents in the agreed amount of $7,500 all inclusive.

This endorsement grants an unopposed application by RioCan Real Estate Investment Trust and related entities for the appointment of FTI Consulting Canada Inc. as receiver over the assets of the RioCan-HBC joint venture entities.

The court reviews the legal test for appointing a receiver under the Bankruptcy and Insolvency Act and the Courts of Justice Act, referencing relevant case law and statutory factors.

The receivership is found to be just and convenient in light of the joint venture’s financial distress, the failure of restructuring efforts, and the need to preserve and maximize value for stakeholders.

The order authorizes the receiver to borrow up to $20 million and provides for allocation of costs and a mechanism for secured lenders to terminate the receivership as to their collateral.

The plaintiff debtors brought a motion for leave to pay the full amount owing to the defendant creditor into court and for an order discharging the encumbrances held as security.

The creditor refused to accept payment unless it was provided with the source of the funds and an additional $500,000 for legal costs.

The court found the creditor's conditions unreasonable, noting that the funds were coming directly from a Schedule III bank and that the credit agreement did not entitle the creditor to costs for defending a breach of contract action brought by the debtors.

The motion was granted.

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 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 endorsement concerns ongoing insolvency proceedings under the Companies’ Creditors Arrangement Act (CCAA) involving JTI-Macdonald Corp., Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc. The specific motion, brought by the applicants, sought a Quebec Class Action Plaintiffs Notice Protocol Order.

The motion was unopposed and was granted by the court, with the requested order signed.