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...
Davies Ranked in Global Restructuring Review’s Top 100 List
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 group is consistently called upon by companies in Canada and across the globe to guide their most significant and groundbreaking restructuring transactions. The team recently acted for Target Corporation in the winding down of Target Canada Co. under the Companies’ Creditors Arrangement Act, the largest Canadian retail restructuring to date by size of debt. The group also acted as Canadian counsel to Nortel Networks UK Limited in the global liquidation of the Nortel group of companies, a multinational undertaking that involved coordinating insolvency proceedings in Canada, the U.S., the U.K., Israel and France. Other recent proceedings on which the team has acted include those of Toys “R” Us (Canada) Ltd. and Takata Airbags.
The GRR 100 rankings are based on reputation, recent work and experience, as determined via extensive research and client review.
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...