In Pindar case, United Kingdom UK court rules on secured creditors to an administration extension under s248 of the Insolvency Act 1986 to conclude administration ha
In late May, the Supreme Court of Canada the SCC denied an application for leave to appeal a decision of the Court of Appeal of Alberta the ABCA, which, in turn, had denied leave to appeal of the decision of the Court of King s Bench of Alberta the ABKB in Re Mantle Materials Group, Ltd, 2023 ABKB 488 Mantle KB. The decision in Mantle KB held that the interests of secured creditors are subordinate to environmental obligations pursuant to the Environmental Protection and Enhancement Act EPEA, thus confirming that the priority of environmental obligations determined by the SCC in Orphan Well Association v Grant Thornton Ltd, 2019 SCC 5 Redwater applies beyond the oil and gas industry.
Nick Stockley, partner at Sussex-based solicitors firm Mayo Wynne Baxter, sheds light on the administration process and lays out the options facing food and drink firms in financial difficulty.
The trustee appointed to manage the bankruptcies of a Victoria mortgage company and its owner has concluded that they committed "numerous offences" and operated as a "massive Ponzi scheme."