Guide
2023 Business Insolvencies in Canada
Mar. 05, 2024 – As we predicted in earlier issues of Davies Insolvency Now , the year 2023 reflected the anticipated increase in business insolvency activity. In this issue, we perform a comparative review of business insolvencies from 2023, examine the fluctuating volume and decreasing asset values, look at how...
Announcement
Davies Listed in GRR 100 for Seventh Straight Year
Dec. 14, 2023 – Davies is once again listed in the Global Restructuring Review (GRR) 100 , the top ranking publication for restructuring and insolvency practitioners, as it has been since the publication’s inception. Renowned globally for its innovative and strategic approach, the firm is involved in almost...
Guide
Business Insolvency on the Rise in Canada: Understanding the Role of AI
Oct. 12, 2023 – The first half of 2023 saw a significant increase in business insolvencies as economic sectors responded to uncertain financial conditions in Canada and around the world. In this issue of Davies Insolvency Now , we examine the impact of this rolling recession by sector and region. We also look...
Announcement
Seven Tier 1 Rankings and Three Partners Named Women Leaders in 2023 IFLR1000 Guide
July 18, 2023 – Davies has again been recognized by International Financial Law Review as a top-tier firm, achieving Tier 1 status in seven financial and corporate law practice areas, including Banking: Canada Capital Markets: Ontario M&A: Canada M&A: Ontario M&A: Québec Project...
Announcement
Canadian Law Awards and Benchmark Litigation Canada Awards Recognize Davies
May 15, 2023 – Davies is honoured to be recognized at the 2023 Canadian Law Awards in the categories: Commercial Litigation Team of the Year, Insolvency and Restructuring Deal of the Year, Infrastructure and Projects Deal of the Year and Capital Markets Deal of the Year. These awards are a reflection of the...
Guide
Rolling Into 2023: Mild Slumps and Jumps in Insolvency Numbers
Mar. 09, 2023 – What does a “rolling recession” mean from an insolvency perspective? In this issue of Davies Insolvency Now , we look to the 2022 Q4 data from across Canada for answers. We also set out the court-supervised arrangement process under the Canada Business Corporations Act , an increasingly popular...
In the News
Natasha MacParland on the Fall of Cryptocurrencies
Jan. 05, 2023 – In a Canadian Lawyer article , partner Natasha MacParland notes that the recent crypto bankruptcy cases present “novel” issues regarding the treatment of cryptocurrency assets and the relief available to stakeholders in insolvency proceedings. These cases have exposed “a gap in the...
Announcement
Global Restructuring Review Names Davies a Top 100 Firm
Dec. 21, 2022 – For the sixth consecutive year, Global Restructuring Review has recognized Davies among the top 100 law firms in the world for cross-border restructuring and insolvency work. Highlights of our notable work from the past year include representing FTI Consulting Canada Inc. in its capacity...
In the News
Natasha MacParland and Robin Schwill Compare Crypto Sector Insolvencies to Cannabis Bankruptcies in The Hill Times
Dec. 02, 2022 – In an article published in The Hill Times (available to subscribers), Natasha MacParland and Robin Schwill say insolvencies in the crypto sector raise issues already seen in cannabis bankruptcies. Natasha and Robin note they are looking for the federal government to modernize Canada’s...
Guide
Financial Gloom and the Increase in Insolvency Filings
Nov. 16, 2022 – In this issue of Davies Insolvency Now , we highlight the significant data points in rising insolvency filing rates and provide a Canadian lens on the digital asset marketplace. With recent drops in crypto prices severely affecting several digital asset lenders and exchanges, we explore what this...
Announcement
Women in Business Law Recognizes Seven Davies Partners
Nov. 04, 2022 – The 2022 edition of Expert Guides’ Women in Business Law recognizes seven Davies partners as leading lawyers in their fields: Anita Banicevic – Competition and Antitrust Sandra Forbes – Competition and Antitrust Natasha MacParland – Insolvency and Restructuring ...
Announcement
Denis Ferland Elected President of the Insolvency Institute of Canada
Oct. 27, 2022 – Partner Denis Ferland has been elected president of the Insolvency Institute of Canada (IIC). “I look forward to promoting the IIC as Canada’s leading insolvency and commercial restructuring organization and to ensuring that all members across the country are represented,” says Denis of his...
Bulletin
Citibank Gets Its Money Back
Sept. 15, 2022 – A February 16, 2021 decision of the United States District Court for the Southern District of New York held, in In re Citibank August 11, 2020 Wire Transfers , 520 F. Supp. 3d 390, that lenders who received almost $900 million mistakenly wired to them by Citibank (the administrative agent for a...
Guide
Canada’s Shifting Credit and Insolvency Landscapes
July 27, 2022 – In this issue of Davies Insolvency Now , against a backdrop of rising inflation and interest rates, we take a deep dive into the legislation that regulates rates of interest in Canada, drawing on recent court decisions to help parties avoid common pitfalls in structuring deals. We then review the...
Announcement
The Aldo Group Inc. Completes CCAA Restructuring
July 26, 2022 – Davies advised long-standing client The Aldo Group Inc. in its successful restructuring under the Companies’ Creditors Arrangement Act , first initiated in May 2020 when the company filed for protection amid COVID-19 shutdowns. Throughout the two-year process, Davies coordinated insolvency...
Guide
Insolvencies in 2021: A Look Back and the Road Ahead
Apr. 06, 2022 – As government supports recede and the focus shifts toward economic recovery, in this issue of Davies Insolvency Now , we take a deep dive into the implications of 2021 insolvency data for 2022, and explore the Canadian application of two key themes emerging from the 2022 World Development Report: ...
Guide
International Views: A Canadian Playbook for 2022
Feb. 09, 2022 – In 2022, we expect to see an uptick in restructurings and insolvencies as fiscal protections expire and businesses face continued cash shortfalls, mounting debt obligations, altered consumer behaviours and rising interest rates. Despite these challenges, while we recognize the immeasurable human...
Announcement
Global Restructuring Review Names Davies a Top 100 Firm
Nov. 19, 2021 – For the fifth consecutive year, Global Restructuring Review has recognized Davies among the top 100 law firms in the world for cross-border restructuring and insolvency work. Our team is consistently called upon by organizations in Canada and around the globe to solve their most challenging...
Guide
Q2 2021 Insolvencies: Crunching the Numbers and Keeping Good Faith
Oct. 21, 2021 – Most of us have stopped asking, “When will it be over?” and have started wondering how we can live with COVID-19 – and how it will change our behaviour from now on. In the context of restructuring, as we saw during the recent Canadian federal election, bankruptcy and insolvency have become topics...
Announcement
Davies Advises on Restructuring & Insolvency Deal of the Year at IFLR1000 Canada and United States Awards
Sept. 22, 2021 – The restructuring of Cirque du Soleil won Restructuring & Insolvency Deal of the Year at the 2021 IFLR1000 Canada and United States Awards on September 21. In the context of Cirque du Soleil’s insolvency proceedings under the Companies’ Creditors Arrangement Act in Canada and Chapter 11 of the...
Announcement
Davies Earns Six Tier 1 Rankings in IFLR1000 2022
Aug. 30, 2021 – International Financial Law Review has again recognized Davies’ financial and corporate law practices with Tier 1 rankings in the following areas: Capital Markets: Ontario M&A: Canada M&A: Ontario M&A: Québec Restructuring and Insolvency: Québec Our Project Development: Infrastructure...
In the News
Christian Lachance Speaks to La Presse About Impact of Subsidy Cuts on Business Restructurings
July 21, 2021 – In a recent article in La Presse (available in French only), Davies partner Christian Lachance shares his insights on the potential impacts of a reduction in government subsidies on business restructurings and the steps that entrepreneurs can take to preserve their businesses. Given the...
Bulletin
Monetizing Public Listings in Receiverships
June 21, 2021 – The Commercial List of the Ontario Superior Court of Justice recently granted an order structurally similar to a reverse vesting order in the receivership proceedings of Vert Infrastructure Ltd. (Vert). This first-of-its-kind order was granted on the motion of Vert’s receiver, KSV Restructuring...
Guide
Davies Restructuring Review 2021: Issue 2
June 17, 2021 – Canada’s economy has continued to fare surprisingly well since we published the first issue of our 2021 Restructuring Review in March, despite continuing pandemic restrictions. However, insolvency-related concerns, such as long-term unemployment and the continued struggles of locked-down...
Announcement
Davies Advises on Insolvency & Restructuring Deal of the Year at 2021 Canadian Law Awards
May 21, 2021 – Davies is proud to have advised on the restructuring of Cirque du Soleil, which won Insolvency & Restructuring Deal of the Year at the second annual Canadian Law Awards on May 20, 2021. In the context of Cirque du Soleil’s insolvency proceedings under the Companies’ Creditors Arrangement Act in...
Bulletin
Top Court Denies Leave to Appeal in Contested Application for a Reverse Vesting Order in Nemaska Restructuring Proceedings
Apr. 30, 2021 – The Supreme Court of Canada (SCC) has denied leave to appeal in the proceedings of Nemaska Lithium Inc. and its subsidiaries (collectively, Nemaska) under the Companies’ Creditors Arrangement Act (CCAA). In November 2020, the Québec Court of Appeal (QCA) dismissed leave applications from the...
In the News
Natasha MacParland and Robin Schwill Explain Drop in Business Insolvencies to the Toronto Star
Apr. 05, 2021 – In a recent article in the Toronto Star , Davies partners Natasha MacParland and Robin Schwill discuss the reasons why fewer businesses than normal went bust in 2020 despite the pandemic lockdowns. Natasha, one of the authors of a recent report by Davies on business insolvencies, said the...
In the News
Canadian Lawyer Features Natasha MacParland on Increasing Use of Reverse Vesting Orders and Other Restructuring Trends
Mar. 24, 2021 – The emergence of reverse vesting orders (RVOs) to facilitate sales under the Companies’ Creditors Arrangement Act was a significant feature of insolvency-related court proceedings in 2020, according to a Davies report highlighted this week in Canadian Lawyer . In the article , Davies partner...
Bulletin
A One-in-a-Billion (-Dollar) Mistake
Mar. 23, 2021 – Last year, Citibank made what was likely the costliest bank error in history. To the astonishment of many observers, a U.S. federal court in New York, in a decision released on February 16, 2021, allowed the recipients of Citibank’s mistaken largesse to keep the money. The story has attracted...
Guide
Davies Restructuring Review 2021: Issue 1
Mar. 02, 2021 – Although 2020 may be behind us, the economic conditions and lockdowns caused by the COVID-19 pandemic still linger. With the emerging picture for Canada in 2021 looking to largely resemble that of 2020, many are wondering how long struggling businesses and their creditors can hold their breath...
In the News
Natasha MacParland and Christian Lachance Discuss Davies’ Insolvency Study with Canadian Lawyer
Jan. 15, 2021 – Business insolvencies in Canada declined in 2020 despite COVID-19, according to a recent Davies report highlighted this week in Canadian Lawyer . Davies partners Natasha MacParland and Christian Lachance spoke to the magazine about what the findings reveal and what they might signify for...
Guide
Canadian Insolvency Trends in 2020: A Pandemic Year in Numbers
Dec. 17, 2020 – The economic conditions caused by the COVID-19 pandemic are unprecedented: unemployment is up, consumer confidence is down, countless businesses have permanently closed and many others are barely holding on. Yet the number of bankruptcies of individuals and small and medium-sized businesses has...
Announcement
The Pallinghurst Group Completes Joint Acquisition of Nemaska Lithium with Investissement Québec
Dec. 03, 2020 – Davies acted for The Pallinghurst Group, a private investor in the global natural resources sector, in its joint acquisition of Québec-based Nemaska Lithium Inc. with Investissement Québec (IQ) pursuant to a sales process under the Companies’ Creditors Arrangement Act . The acquisition was...
Announcement
Davies Named a Top 100 Firm by Global Restructuring Review
Dec. 02, 2020 – For the fourth consecutive year, Davies has been recognized by Global Restructuring Review among the top 100 law firms in the world in the areas of cross-border restructuring and insolvency. The recognition caps off a year of outstanding work for our clients on high-profile cross-border...
In the News
Natalie Renner and Robin Schwill Detail First-Ever “Going Concern” Sale of Cannabis Producer in Canadian Lawyer
Sept. 17, 2020 – Davies partners Natalie Renner and Robin Schwill were featured by Canadian Lawyer this week in an article on their facilitation of a “going concern” asset sale of an insolvent cannabis company – a Canadian industry first. The sale involved a complete transfer of the business, and the...
Announcement
Davies Drives First Ever Going Concern Sale of Insolvent Cannabis Producer
Sept. 04, 2020 – In an industry first, Davies has facilitated a going concern asset sale of an insolvent cannabis company that saw a complete transfer of the business to a third party in record time. The successful transaction was unique in both structure and speed, and pivoted on the creativity and experience of...
Bulletin
Québec Court of Appeal Settles Controversy Regarding Applicability of CCQ Requirements to Appointment of a Receiver
July 21, 2020 – In a unanimous decision, the Québec Court of Appeal (QCA) put an end to a controversy in the case law regarding the implementation of the receiver regime under the Bankruptcy and Insolvency Act (BIA) in Québec. The QCA confirmed that a secured creditor can have a receiver appointed under the BIA...
Announcement
Three Wins for Davies at IFLR1000 Canada Awards 2020
June 11, 2020 – Davies is proud to have won awards across three categories at the IFLR1000 Canada Awards 2020, announced on June 11. The firm was named “Restructuring and Insolvency Team of the Year” for our groundbreaking work on a number of complex and high-profile cross-border restructurings and insolvencies...
Bulletin
Canadian Government’s Proposed Extension of Time Limits Due to COVID-19
May 27, 2020 – As part of the federal government’s response to the COVID-19 pandemic, the Department of Finance recently published a draft legislative proposal , the Time Limits and Other Periods Act (COVID-19) (Proposal), that, if implemented, would provide for an automatic six-month suspension of time limits...
Bulletin
Super Priority or Super Powers? FCA Rules That CRA Can Collect Unremitted GST on Proceeds of Third-Party Secured Interest
May 20, 2020 – In The Toronto-Dominion Bank v Queen (2020 FCA 80), the Federal Court of Appeal (FCA) confirmed a Federal Court (FC) decision and ruled that a secured creditor had a statutory obligation to pay the Canada Revenue Agency (CRA) for a tax debt of an arm’s-length borrower because the secured...
Bulletin
Canada’s Top Court Provides Crucial Guidance on the Conduct of Insolvency Proceedings
May 08, 2020 – The Supreme Court of Canada delivered its reasons today in 9354-9186 Québec inc. v Callidus Capital Corp. , 2020 SCC 10, after having unanimously allowed the appeals from the bench on January 9, 2020. Davies represented the principal – and successful – appellants in this matter. 1 In its...
Bulletin
COVID-19: Preserving Your Business in a Pandemic
Mar. 27, 2020 – There is abundant information circulating about the extreme financial toll that the COVID-19 pandemic is expected to take on businesses across the globe. Here we address what creditors and debtors can do now to manage risk and preserve their value through this crisis . What Creditors Can Do Now ...
Announcement
FCF Co., Ltd. Acquires Bumble Bee Foods
Feb. 10, 2020 – Davies acted as Canadian counsel for FCF Co., Ltd. in its US$928-million acquisition of all the assets of Clover Leaf Foods and Bumble Bee Foods, North America’s largest branded shelf-stable seafood companies, under a sale proceeding conducted under the Companies’ Creditors Arrangement Act and...
Bulletin
Canada’s Top Court Releases Precedent-Setting Decision on Litigation Funding and a Court’s Discretion in Restructuring Process
Jan. 28, 2020 – The Supreme Court of Canada’s decision in 9354-9186 Québec Inc. v Callidus Capital Corporation unanimously overturned a unanimous decision of the Québec Court of Appeal. The Supreme Court’s decision, released on January 23, 2020, was issued from the bench with reasons to follow. The reasons...
In the News
Natalie Renner Speaks to The Globe and Mail About Legislative Shortcomings in Cannabis Insolvencies
Jan. 10, 2020 – With a wave of cannabis insolvencies likely on the horizon, The Globe and Mail ’s Report on Business Cannabis Professional featured Natalie Renner in an article (available to subscribers) about hurdles caused by gaps in the existing bankruptcy laws. The biggest unresolved issue is the fact...
In the News
Natalie Renner Speaks to BNN Bloomberg About Regulatory Hurdles in Cannabis Insolvencies
Dec. 05, 2019 – In an interview with BNN Bloomberg, Natalie Renner offers her perspective on the state of the current cannabis legislation and why the inability to transfer licenses creates significant complications for cannabis producers facing insolvency. Watch the interview .
Announcement
Davies Named to Global Restructuring Review’s Top 100 List
June 20, 2019 – For the third year running, the Global Restructuring Review has named Davies among the top 100 law firms in the world in the areas of cross-border restructuring and insolvency. Over the past year, Davies’ Financial Restructuring & Insolvency group has played a key role in many groundbreaking...
Announcement
Natasha MacParland Wins 2019 TMA Toronto Women of Excellence Award
May 31, 2019 – We are proud to announce that Natasha MacParland has been chosen as the recipient of the 2019 Turnaround Management Association’s Toronto Women of Excellence Award – “Today’s Leader. ” Well respected as a pre-eminent practitioner in her field, Natasha regularly leads complex, high-profile...
Announcement
Imperial Tobacco Canada Obtains Creditor Protection
Mar. 22, 2019 – Davies is acting for FTI Consulting Canada Inc. in its capacity as court-appointed monitor of Imperial Tobacco Canada Limited and its affiliated corporation, Imperial Tobacco Company Limited, in proceedings under the Companies' Creditors Arrangement Act and Chapter 15 of the U.S. Bankruptcy...
Announcement
Davies Lawyers Unrivalled in Chambers Global 2019
Feb. 19, 2019 – Chambers and Partners has once again recognized Davies as a top Canadian law firm in the 2019 edition of Chambers Global: The World’s Leading Lawyers for Business . This year’s guide recognizes 39 Davies lawyers with 45 rankings, including 16 lawyers ranked Band 1 – more than any other law firm...
Bulletin
Top Court Rules Bankrupt Corporations Can’t Evade Environmental Obligations
Feb. 05, 2019 – In a landmark decision released on January 31, 2019, the Supreme Court of Canada (SCC) ruled in Orphan Well Association v Grant Thornton Ltd. that the environmental remediation obligations of a bankrupt oil and gas company must be fulfilled in priority over all other claims, including secured...
Article
Why the Cannabis Act Should Make Company Stakeholders Nervous
Nov. 28, 2018 – The following op-ed was originally published in The Globe and Mail . Last month, Canada became the first G7 country to legalize recreational cannabis nationwide, fulfilling the promise first announced by the Liberal government on the campaign trail in 2015. In the months leading up to...
In the News
Natalie Renner Explores Lack of Commercial Protections in Federal Cannabis Act in Globe and Mail Op-Ed
Nov. 28, 2018 – In an op-ed published in The Globe and Mail , Davies partner Natalie Renner writes that the Canadian cannabis industry’s regulatory framework is unprepared for the industry’s projected commercial growth and inevitable failures. Read the full article.
Bulletin
Callidus Capital Corporation v HMQ: Last Word Goes to the Secured Creditor
Nov. 14, 2018 – The Supreme Court of Canada (the SCC) has overturned the decision rendered by a majority of the Federal Court of Appeal (the FCA) in Callidus Capital Corporation v Her Majesty the Queen . The case originated out of a motion filed in the Federal Court (the FC) by Callidus Capital Corporation...
Announcement
Natasha MacParland Elected to the Insolvency Institute of Canada’s Board of Directors
Oct. 10, 2018 – Davies partner Natasha MacParland has been elected to serve a three-year term on the Board of Directors of the Insolvency Institute of Canada (IIC). Widely recognized as a leading lawyer in her field, Natasha has extensive experience in debt restructuring, bankruptcy and insolvency, corporate...
Article
Natasha MacParland and Natalie Renner Introduce Feature Column in Rebuilding Success Magazine
Sept. 24, 2018 – Davies partners Natasha MacParland and Natalie Renner will be authoring a regular feature column in Rebuilding Success , the official magazine of the Canadian Association of Insolvency and Restructuring Professionals. Launched in the magazine’s Fall/Winter 2018 edition , the column,...
Bulletin
Back to Normal? Ontario Court of Appeal Overturns ClearFlow Decision on Interest Disclosure under Section 4 of Interest Act
Sept. 06, 2018 – Early in 2018, lenders and their counsel were surprised and alarmed by the Ontario Superior Court of Justice decision in Solar Power Network Inc. v ClearFlow Energy Finance Corp. , which threatened to disrupt a long-established consensus that section 4 of the Canadian federal Interest Act no...
Announcement
Two Davies Partners Selected as Restructuring Thought Leaders by Who’s Who Legal
Aug. 28, 2018 – Davies partners Natasha MacParland and Robin Schwill have been recognized as “Thought Leaders in Restructuring” in Who’s Who Legal: Thought Leaders – Restructuring & Insolvency 2018 . Davies’ Financial Restructuring & Insolvency practice is widely recognized for its domestic and international...
Announcement
Davies Ranked in Global Restructuring Review’s Top 100 List
Aug. 02, 2018 – For the second straight year, Davies has been chosen by the Global Restructuring Review as one of the top 100 law firms in the world in the areas of cross-border restructuring and insolvency. Widely recognized as one of Canada’s leaders in the sector, Davies Financial Restructuring & Insolvency...
Announcement
Twenty-nine Davies Partners Named Leaders in Cross-Border Law
June 22, 2018 – The 2018 Lexpert Guide to US/Canada Cross-Border Lawyers in Canada features 29 Davies lawyers, across seven practice areas, who are recognized for their industry-leading cross-border practices. The new publication from Lexpert is a single all-encompassing cross-border guide, featuring lawyers...
Bulletin
Tax Court Finds That Broker Fees on a Private Company Sale Were GST/HST-Taxable
May 10, 2018 – The Tax Court of Canada recently released its decision in Barr v. The Queen , 2018 TCC 86, which considered whether share-sale commissions were exempt from HST. The taxpayer was the sole shareholder of a Canadian company. He had retained two brokers for the sale of his company or its assets....
Bulletin
The Cannabis Frenzy
Apr. 06, 2018 – While the Canadian capital markets were volatile in 2017, market activity in the Canadian cannabis sector has achieved unprecedented highs. The $245-million investment by Constellation Brands, a NYSE-listed producer of beer, wine and spirits, in TSX-listed Canopy Growth in the fall of 2017...
Announcement
Davies Lawyers Peerless in Chambers Global 2018
Feb. 16, 2018 – Davies’ status as a leading Canadian law firm has once again been confirmed by Chambers and Partners in its annual publication Chambers Global: The World’s Leading Lawyers for Business . The 2018 edition of the guide recognizes 40 Davies lawyers with 46 rankings, including 15 lawyers ranked Band...
Bulletin
Interest Disclosure under Section 4 of the Interest Act: The Ghost Is Clanking Its Chains Again
Feb. 09, 2018 – Section 4 of the Canadian federal Interest Act , an interest disclosure provision first enacted in 1897 and surviving almost unchanged today, has been of little concern to lenders for the past quarter-century. A series of judicial decisions in the early 1990s seemed to have limited its scope so...
Announcement
Davies Advises on Five of Lexpert’s Top 10 Deals of 2017
Feb. 06, 2018 – Lexpert Magazine has identified Davies as a key player in five of the Top 10 Deals of 2017, including the merger of Potash Corp. of Saskatchewan Inc. with Agrium Inc. to form Nutrien Ltd., which was recognized as Deal of the Year. Davies was also profiled for acting in the following top...
Announcement
Restructuring & Insolvency Leaders
Dec. 22, 2017 – The 2018 edition of Who’s Who Legal: Restructuring & Insolvency has named four Davies partners as leading practitioners in the field. Denis Ferland , Natasha MacParland , Robin Schwill and Jay Swartz were recognized for their industry-leading expertise in Restructuring & Insolvency law. ...
Announcement
Forty-nine Davies Lawyers Recognized in Who’s Who Legal: Canada
Oct. 24, 2017 – Law Business Research’s Who’s Who Legal: Canada 2017 names 49 Davies partners as leading lawyers, including eight Most Highly Regarded practitioners, across 18 different practice areas. Who’s Who Legal nominees are selected on the basis of comprehensive, independent surveys conducted among...
Announcement
Thirty-eight Davies Partners Recognized in the IFLR1000 Financial and Corporate 2018 Guide
Oct. 17, 2017 – Davies’ market leadership and expertise in financial and corporate law is reaffirmed in the 2018 edition of IFLR1000 , with 28 of our lawyers recognized as industry leaders, including one Market Leader, 18 Highly Regarded practitioners, six Rising Stars and thirteen Notable Practitioners across...
Bulletin
U.S. Treasury Will Scale Back Debt-Equity and Certain Other Regulations
Oct. 10, 2017 – On the basis of an executive order by President Trump to reduce the burden of tax regulations, the Secretary of the Treasury (Secretary) identified on June 22, 2017, eight regulations from January 1, 2016, to be reviewed (June Report). The Secretary has now provided final recommendations (October...
Bulletin
Liquidating CCAAs and Pension Deemed Trust Priorities
Sept. 14, 2017 – The very clearly written decision of Québec Superior Court Justice Stephen Hamilton in the Bloom Lake and Wabush Mines Companies’ Creditors Arrangement Act (CCAA) proceedings is certain to be the topic of current discussion in the Canadian insolvency and secured lending communities. See the...
Announcement
Davies Earns Top Marks in The Canadian Legal Lexpert Directory 2017
May 05, 2017 – The Canadian Legal Lexpert Directory 2017 has recognized 91 Davies lawyers as leading practitioners, with 33 achieving the highest ranking of Most Frequently Recommended in at least one area of specialization. Our firm is also recognized as Most Frequently Recommended in 16 practice areas. ...
Announcement
Davies Wins Motion on Exclusion of Liability Clause
Apr. 19, 2017 – Davies represented Urbancorp’s court-appointed monitor in the Superior Court of Justice on April 13, 2017, in the matter of five insolvent Urbancorp entities against certain homebuyers who filed for damages during the resulting Companies’ Creditors Arrangement Act proceedings. The issue on the...
Announcement
Davies Lawyers Unmatched in Chambers Global 2017
Mar. 27, 2017 – Davies’ status as a leading Canadian law firm has once again been confirmed by Chambers and Partners in its annual publication Chambers Global: The World’s Leading Lawyers for Business . Davies has the highest percentage of Band 1 lawyer rankings as well as the highest percentage of overall...
Bulletin
Perfection by Control of Security Interests in Cash Collateral Accounts: Recent Ontario Developments
Dec. 07, 2016 – From a lender’s perspective, perfection of its security interest in collateral by control provides stronger protection than perfection by registration. A security interest perfected by control will generally prevail over other interests in the same collateral, including even a prior security...
Bulletin
Ontario Court of Appeal Denies Leave to Appeal Nortel Allocation Decision
May 04, 2016 – On May 3, 2016, the Court of Appeal for Ontario released its decision (Leave Decision) denying leave to appeal from Justice Newbould’s allocation of the proceeds of sale of the remains of the Nortel Networks group of companies (Allocation Decision). The main points arising from the decision...
Announcement
Davies Lawyers Continue to Lead in Chambers Global 2016
Mar. 23, 2016 – Davies’ status as a leading Canadian law firm has once again been confirmed by Chambers and Partners in its annual publication, Chambers Global: The World ’ s Leading Lawyers for Business . Davies has the highest percentage of Band 1 lawyer rankings of any Canadian law firm. The 2016 edition...
Announcement
Davies Continues as a Leader in Chambers Global 2015
Mar. 18, 2015 – Davies Ward Phillips & Vineberg LLP has again been recognized as one of Canada’s leading law firms by Chambers and Partners in its 2015 annual publication, Chambers Global: The World’s Leading Lawyers for Business . Davies has the highest percentage of lawyer rankings as well as the highest...