Recreational cannabis use became legal in Canada on October 17, 2018. Canada is now the second country in the world—and the first G-7 nation—to authorize a national cannabis market. 1 The passage of Bill C-45, otherwise known as the Cannabis Act, marks a historical moment for advocates of cannabis...

In recent years, there has been an upward trend in the use of the Canadian insolvency regime as a mechanism to “detach” an unprofitable Canadian subsidiary from a larger corporate enterprise. In circumstances where an economically viable parent is hemorrhaging losses as a result of its Canadian...

Historically low interest rates resulting from quantitative easing in the developed markets have afforded relatively easy access to capital, making it possible for distressed companies around the globe to refinance rather than restructure as capital markets continue to flow. In China, bank capital...

In Redwater Energy Corporation (Re) , the Court of Queen's Bench of Alberta held that certain sections of the Oil and Gas Conservation Act (Alberta) and Pipeline Act (Alberta) are inoperative to the extent that they are used by the Alberta Energy Regulator (AER) to prevent the abandonment or...

A person or corporation that “resides or has a domicile, a place of business, or property in the United States” may file a bankruptcy petition in a U.S. Bankruptcy Court. Given that U.S. courts have taken an expansive view of their jurisdiction under this portion of the U.S. Bankruptcy Code, there...

In Canada, compromises and arrangements with creditors can be pursued under the Companies’ Creditors Arrangement Act (CCAA). To reorganize under the CCAA, the debtor must be an insolvent corporate entity, formed under Canadian or foreign law, with a total amount of claims against it or its...