In the Matter of a Proposed Plan of Compromise or Arrangement with Respect to U.S. Steel Canada Inc.
Ontario Reports
Court of Appeal for Ontario,
Hoy A.C.J.O., Blair and Lauwers JJ.A.
January 26, 2016
128 (3d) 458
2016 ONCA 68
[Indexed as: U.S. Steel Canada Inc. (Re)]
Case Summary
Evidence — Privilege — Statutory privilege — U.S. Steel giving undertakings to Minister of Industry when it purchased Canadian steel company — Attorney General of Canada later taking position that U.S. Steel had breached undertakings and filing application under Investment Canada Act ("ICA") for order requiring U.S. Steel to comply with undertakings — Parties entering into settlement agreement in which U.S. Steel provided new undertakings — Canadian company subsequently granted protection under Companies' Creditors Arrangement Act ("CCAA") — Stakeholders in CCAA proceedings moving for disclosure of contents of settlement agreement — CCAA judge erring in finding that disclosure was barred by s. 36 of ICA — Exception to privilege regime in s. 36(4)(b) of ICA applying to U.S. Steel and Canadian company — Exception created by s. 36(5) of ICA to exception in s. 36(4)(b) only applying to minister and government employees and not protecting U.S. Steel and Canadian company from being required to disclose information contained in settlement agreement — Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-