Tag: Bankruptcy

Commercial Tenancies, Letters of Credit and Bankruptcy

One method used by commercial landlords to secure against losses from commercial tenancies is to require tenants to post letters of credit (“LCs”), that the landlord can draw upon in defined circumstances. Though certainly useful, in Ontario there has been...

By Eric Lay of Merovitz Potechin LLP on Thursday January 21, 2021.

Provincial Trusts in a Bankruptcy

In The Guarantee Company of North America v. Royal Bank of Canada, 2019 ONCA 9 the Court of Appeal held that the statutory trust created by s.8 of the Construction Act, R.S.O. 1990, c. C.30 (the CA) is a trust...

By Merovitz Potechin on Monday May 13, 2019.

Are Licensed Insolvency Trustees Liable for Complying with Environmental Cleanup Orders?

The recent decision of the Supreme Court of Canada in Orphan Well Association v. Grant Thornton Ltd., 2019 SCC 5 clarified the extent of a licensed insolvency trustee's obligation when it comes to environmental cleanup obligations at least in the...

By Merovitz Potechin on Thursday March 21, 2019.

Government Student Loans and Bankruptcy in Canada

As bankruptcy practitioners are aware, there was a time when the Bankruptcy and Insolvency Act (the "BIA") did not afford the special status to government student loans as it does now. During that time, however, the case law developed to...

By Merovitz Potechin on Friday February 8, 2019.