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Inside Internal Controls

News and discussion on implementing risk management

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bankruptcy

Robust information about purchasers/assignees may be required before contracts will be assigned under the CCAA

In Dundee Oil and Gas Limited (Re), 2018 ONSC 3678, Justice Dunphy provided some important guidance on information that should be provided to the court in support of a motion for an order assigning contracts pursuant to section 11.3 of the Companies’ Creditors Arrangement Act, RSC 1985, c. C-36.

 

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Canadian corporate directors may be liable for unpaid wages

A recent arbitration decision out of the province of Quebec (available in French only) involving the director of a bankrupt corporation serves as a reminder that directors can be personally liable for unpaid employee wages, notice of termination, and vacation pay.

 

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The future of insolvency

Industry Canada sought public input on the state and future of Canada’s insolvency legislation through early 2014. Interested parties can review the issues in the agency’s discussion paper on the statutory review of the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act.

 

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Will poor management decisions mean the end for American Apparel?

You’ve probably heard of American Apparel, the Los Angeles-based clothing manufacturer and retailer that’s so popular with the kids these days, they of the semi-controversial billboard advertisements and almost-certainly-controversial CEO Dov Charney…

 

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