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...
Imperial Tobacco Canada Obtains Creditor Protection
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 Code.
Imperial filed for protection amidst ongoing litigation claims across Canada, including a Québec Court of Appeal judgment holding the industry liable to pay a maximum of $13.6 billion in damages to Québec class action plaintiffs. The protection will allow the company to operate in the normal course while it seeks to resolve the billions of dollars’ worth of tobacco-related claims it is currently facing, including numerous class actions in various provinces and provincial government health care cost recovery actions.
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...