Davies Acts as Intervener for the Insolvency Institute of Canada Before the Supreme Court of Canada

Davies is pleased to have acted for the Insolvency Institute of Canada (IIC) as an intervener before the Supreme Court of Canada in Aquino v. Ernst & Young (Aquino) and Scott v. Golden Oaks (Golden Oaks), two important commercial cases concerning corporate attribution and set-off in the bankruptcy and insolvency context.

On October 11, 2024, the Supreme Court dismissed the appeals in both cases. In Aquino, the Court unanimously adopted the approach to corporate attribution urged by the IIC: that corporate attribution must be applied contextually and purposively. In Golden Oaks, Justice Côté, in a concurring opinion, endorsed and quoted from the IIC’s argument concerning set-off, while the majority left resolution of that issue for a future case.

Team: Natasha MacParland (Restructuring & Insolvency); Chanakya Sethi, Rui Gao and Henry Machum (Litigation).