Insolvency and Collections

Commercial Tenancies, Letters of Credit and Bankruptcy

One method used by commercial landlords to secure against losses from commercial tenancies is to require tenants to post letters of credit (“LCs”), that the landlord can draw upon in defined circumstances. Though certainly useful, in Ontario there has been...

By Merovitz Potechin lawyer at Merovitz Potechin LLP on Thursday January 21, 2021

Provincial Trusts in a Bankruptcy

In The Guarantee Company of North America v. Royal Bank of Canada, 2019 ONCA 9 the Court of Appeal held that the statutory trust created by s.8 of the Construction Act, R.S.O. 1990, c. C.30 (the CA) is a trust...

By Merovitz Potechin on Monday May 13, 2019

Are Licensed Insolvency Trustees Liable for Complying with Environmental Cleanup Orders?

The recent decision of the Supreme Court of Canada in Orphan Well Association v. Grant Thornton Ltd., 2019 SCC 5 clarified the extent of a licensed insolvency trustee's obligation when it comes to environmental cleanup obligations at least in the...

By Merovitz Potechin on Thursday March 21, 2019

Government Student Loans and Bankruptcy in Canada

As bankruptcy practitioners are aware, there was a time when the Bankruptcy and Insolvency Act (the "BIA") did not afford the special status to government student loans as it does now. During that time, however, the case law developed to...

By Merovitz Potechin on Friday February 8, 2019

Personal Guarantees

As a general rule, when a person signs a contract, he or she accepts the terms of the contract and agrees to be bound by them. The words used in the contract typically demonstrate the obligations that the person takes...

By Merovitz Potechin on Monday December 14, 2015

Blog Update – Bankruptcy: Federal vs. Provincial Jurisdiction and Obtaining A Fresh Start

On April 25, 2014, I wrote a blog on the interaction of: provincial legislation which allows a provincial government to continue the suspension of a bankrupt's driver's license as a result of an outstanding judgment against him or her arising...

By Merovitz Potechin on Monday November 23, 2015