Timminco motion: A new twist in insolvency v environment
The insolvent metal processing company, Timminco, is attempting a new twist to “cleanse” creditors of environmental claims through insolvency law. They have applied to the Commercial List for permission to sell their valueless contaminated sites, for virtually nothing, to new sub…
View the post titled Timminco motion: A new twist in insolvency v environmentAnnual review of insolvency law: Why Abitibi rule is backwards
Dianne Saxe gave a well received presentation on the Abitibi case at the Annual Review of Insolvency Law in Montréal during the big snowstorm. In essence, Dianne believes that the Supreme Court’s decision, that the provincial environmental orders were subject to federal insolvency rule…
View the post titled Annual review of insolvency law: Why Abitibi rule is backwardsAbitibi wins, Newfoundland cleanup order unenforceable after insolvency
Provincial governments must do more to ensure that cleanup costs are provided by financial assurance during the active life of a business, and not rely on getting innocent third parties to pay for cleanups after the fact.
View the post titled Abitibi wins, Newfoundland cleanup order unenforceable after insolvencyCreditor or regulator? Nortel, the MOE and environment v insolvency
If there are continuing operations, there has to be ongoing compliance with environmental legislation. But if there are no ongoing operations, the environmental regulator has to rely on its security, failing which it has unsecured status.
View the post titled Creditor or regulator? Nortel, the MOE and environment v insolvencyReceive Blog Posts
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