Currently, 30 states and the District of Columbia have adopted some form of cannabis legalization, producing an estimated $9 billion in sales in 2017, making it one of the fastest growing industries in the U.S. This accelerated growth will find many new...
When an insolvent company contemplates filing for creditor protection under one of Canada’s principle restructuring statutes, it may require interim financing or, as more typically referred to in the U.S., debtor-in-possession (DIP) financing. The availability of, and allowance for, DIP financing...
Delaware law regarding creditors’ abilities to bring successful breach of fiduciary duty claims has evolved significantly over the past 15 years — from creditors once being able to assert direct claims to now being able only to assert derivative claims on behalf of all creditors in “rare”...
The Canadian judiciary has occasionally been criticized by the litigation bar for not taking advantage of the summary judgment procedures set out in the Court Rules. Indeed, it seems that a summary judgment is granted only in exceptional circumstances, and a judge may be more likely to “kick the...
Compared to the case law governing distressed corporations, the case law governing distressed limited liability companies (LLCs) is in its nascent stages. This is largely attributable to the fact that LLCs are a comparatively newer form of corporate structure and thus have lesser developed...
In most Chapter 11 cases, the debtor’s ultimate goal is to propose and confirm a Chapter 11 plan. While this is easier said than done, many Chapter 11 plans are typically the product of protracted negotiations among the debtor, its lender(s), trade creditors, and other interested parties. The...
Restructuring a city, school district, county, or other public sector body presents unique challenges that turnaround professionals likely haven’t encountered in the private sector. While many of the same turnaround principles apply, the environment is different and thus the approach taken must...
