Rachel Bengino

The appellant, Vdopia Inc., appealed an order requiring it to pay US$373,731.23 to the court-appointed receiver of the respondents.

Vdopia Inc. argued that the motion judge erred by not considering its outstanding counterclaim for equitable set-off.

The Court of Appeal found no error, affirming that the motion judge's finding of indebtedness was well-supported by the record and that the appellant failed to adduce any evidence to support its set-off claim despite ample notice.

The appeal was dismissed, and costs were awarded to the receiver.

Lydian International Limited, the applicant in CCAA proceedings, sought an order to extend the stay of proceedings until March 31, 2021, or the filing of the Monitor's CCAA Termination Certificate, and to approve the Monitor's Eighth Report.

The CCAA Plan was sanctioned earlier, and Lydian International was undergoing an orderly wind-up in Jersey.

Due to unforeseen delays in the Jersey winding-up process, an extension of the stay was required.

The court found that the parties were working diligently and the applicant had sufficient financial resources.

The Monitor's report received no adverse comments.

Representations from shareholders regarding their investment loss were noted but deemed irrelevant to the requested relief, which did not alter the Plan Sanction and Implementation Order.

The court granted the motion, extending the stay and approving the Monitor's report.

JTI-Macdonald Corp. (JTIM) sought an Initial Order under the Companies’ Creditors Arrangement Act (CCAA) following a $13.5 billion judgment from the Quebec Court of Appeal and other significant health care costs recovery actions.

The court granted the Initial Order, including a stay of proceedings against JTIM and other defendants, appointment of Deloitte Restructuring Inc. as Monitor, approval of administrative, directors', and tax charges, authorization to pay pre-filing and post-filing obligations, appointment of Blue Tree Advisors Inc. as Chief Restructuring Officer, and authorization to appeal the Quebec Judgment to the Supreme Court of Canada.

The court found JTIM to be an insolvent company to which the CCAA applies, and that a stay of proceedings was appropriate to facilitate a collective solution for all stakeholders.

The court approved the class action distribution plan, which allocated proceeds proportionally based on prior wind-down payments, and the class counsel's retainer agreement, fees, and disbursements.

The court also approved honourariums for the representative plaintiff and another instrumental class member.

A dispute regarding priority between General Motors' security interest and Class Counsel's first charge was noted for a subsequent decision.

The Monitor sought court advice and directions regarding a proposed extension of an Asset Purchase Agreement (APA) closing date and alleged material breaches of confidentiality obligations by the purchaser, Lagasco Inc., in a Companies' Creditors Arrangement Act (CCAA) proceeding.

The court authorized the Monitor to agree to a final three-week extension of the APA, noting the purchaser's good faith in dealing with unexpected financing issues, but expressed serious concerns about the confidentiality breaches.

The court directed the Monitor to ensure the extension was without prejudice to rights arising from these breaches and to prepare for a potential resumption of the sales process if the APA failed to close.

The applicant, Dundee Oil & Gas Limited, sought approval for the sale of substantially all its assets and the assignment of associated executory contracts under s. 11.3 of the CCAA.

The court initially adjourned the matter to require further evidence regarding the purchaser's financial stability and ability to manage environmental remediation obligations.

After reviewing supplementary evidence, including cash flow forecasts and the purchaser's operational plans, the court was satisfied that the purchaser would be able to perform the obligations.

The court approved the transaction and the assignment of the contracts.