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Chandos Construction Ltd V Deloitte Restructuring Inc
is a landmark case of the Supreme Court of Canada concerning the position of the anti-deprivation rule within Canadian insolvency law. It held that, because of differences in Canadian law, the rule has wider application relative to the English rule applied by the UK Supreme Court in '' Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services Ltd''. Background Chandos, hired as the general contractor for a condominium project in St. Albert, Alberta, subcontracted Capital Steel to supply steel-related work for it. Before making an assignment in bankruptcy in September 2016, Capital had completed the majority of its work, and Chandos owed it an outstanding balance of $149,618. Chandos had to incur $22,800 of costs on its own account to complete the work, which it was entitled to deduct. The contract also contained another clause, which stated (in relevant part): The amount to be forfeited amounted to $137,330, and Chandos argued that it was entitled to offset this against ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-deprivation Rule
The anti-deprivation rule (also known as fraud upon the bankruptcy law) is a principle applied by the courts in common law jurisdictions (other than the United States) in which, according to Mellish LJ in ''Re Jeavons, ex parte Mackay'', "a person cannot make it a part of his contract that, in the event of bankruptcy, he is then to get some additional advantage which prevents the property being distributed under the bankruptcy laws." Wood VC had earlier observed that "the law is too clearly settled to admit of a shadow of doubt that no person possessed of property can reserve that property to himself until he shall become bankrupt, and then provide that, in the event of his becoming bankrupt, it shall pass to another and not to his creditors." General scheme It arises from the general principle (known as the "rule against repugnancy" in property law) that a grantor may not derogate from his own grant by giving an absolute interest in an asset and then providing for it to be clawe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Queen's Bench Of Alberta
The Court of King's Bench of Alberta (abbreviated in citations as ABKB or Alta. K.B.) is the superior court of the Canadian province of Alberta. Until 2022, it was named Court of Queen's Bench of Alberta. The Court of Queen's Bench in Calgary was relocated to the Calgary Courts Centre in 2007. The Court of King's Bench has been located at the Law Courts building in Edmonton since the 1970s. History The court originates from the old Supreme Court of the Northwest Territories. Two years after Alberta became a province in 1905, the court was reorganized as the Supreme Court of Alberta and several lower district courts possessing a more limited jurisdiction. In 1921, the Supreme Court was reorganized to have an independent trial division (Supreme Court of Alberta Trial Division), and an independent appellate division (Supreme Court of Alberta Appellate Division), the precursor to the Court of Appeal of Alberta. On June 30, 1979, the Supreme Court Trial Division was renamed as "Court ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies' Creditors Arrangement Act
The ''Companies' Creditors Arrangement Act'' (CCAA; french: Loi sur les arrangements avec les créanciers des compagnies) is a statute of the Parliament of Canada that allows insolvent corporations owing their creditors in excess of $5 million to restructure their business and financial affairs. The CCAA within the Canadian insolvency regime In 1990, the British Columbia Court of Appeal discussed the background behind the introduction of the CCAA in one of its rulings: The Supreme Court of Canada did not have a chance to explain the nature of the CCAA until the groundbreaking case of ''Century Services Inc. v. Canada (Attorney General)'' in 2010. In it, a detailed analysis was given in explaining the nature of insolvency law in Canada. The ''Bankruptcy and Insolvency Act'' (BIA) provides a more rules-based approach for resolving a corporate debtor's insolvency, which must be observed strictly. The CCAA, on the other hand, provides a more discretionary approach that is remedi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ipso Facto
is a Latin phrase, directly translated as "by the fact itself", which means that a specific phenomenon is a ''direct'' consequence, a resultant ''effect'', of the action in question, instead of being brought about by a previous action. It is a term of art used in philosophy, law, and science. (Contrast this with the expressions "by itself" or "per se".) Aside from its technical uses, it occurs frequently in literature, particularly in scholarly addenda: e.g., "Faustus had signed his life away, and was, , incapable of repentance" (from Christopher Marlowe, ''The Tragical History of Dr. Faustus'') or "These prejudices are rooted in the idea that every tramp is a blackguard" (from George Orwell, ''Down and Out in Paris and London''). Its use is also found in rabbinic writings: "If a man sells a house, he sells with it the door." In Catholic canon law denotes the automatic character of the loss of membership in a religious body by someone guilty of a specified action. Within t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Title 11 Of The United States Code
Title 11 of the United States Code, also known as the United States Bankruptcy Code, is the source of bankruptcy law in the United States Code. Chapters Title 11 is subdivided into nine chapters. It used to include more chapters, but some of them have since been repealed in their entirety. The nine chapters are: *Chapter 1: General Provisions *Chapter 3: Case Administration *Chapter 5: Creditors, the Debtor and the Estate * Chapter 7: Liquidation * Chapter 9 : Adjustment of Debts of a Municipality *Chapter 11: Reorganization *Chapter 12: Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income *Chapter 13: Adjustment of Debts of an Individual with Regular Income * Chapter 15: Ancillary and Other Cross-Border Cases References Further reading External linksUnited States Bankruptcy Codevia usbankruptcycode.orgU.S. Code Title 11 via United States Government Publishing OfficeU.S. Code Title 11 via Cornell University Cornell University is a private stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Eagle International Airlines Ltd V Compagnie Nationale Air France
''British Eagle International Air Lines Ltd v Cie Nationale Air France'' 9751 WLR 758 is a UK insolvency law case, concerning priority of creditors in a company winding up. Facts A number of airlines agreed to set up a clearing house to manage debt and credit accounts among themselves. Each airline in the group owed multiple and changing debts to one another, so to make settlements easier, participants were not meant to claim against one another, but simply enter their transactions in the clearing house, and then settle the balance at the end of each month. The clearing house fell under the authority of the International Air Transport Association, or IATA. British Eagle went into liquidation, and owed money to the clearing house overall, but was a creditor to Air France. The liquidator attempted to recover the money from Air France and Air France argued it was bound by the clearing house scheme, and could only collect money after netting out the claims of creditors of British Ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Obiter Dictum
''Obiter dictum'' (usually used in the plural, ''obiter dicta'') is a Latin phrase meaning "other things said",''Black's Law Dictionary'', p. 967 (5th ed. 1979). that is, a remark in a legal opinion that is "said in passing" by any judge or arbitrator. It is a concept derived from English common law, whereby a judgment comprises only two elements: ''ratio decidendi'' and ''obiter dicta''. For the purposes of judicial precedent, ''ratio decidendi'' is binding, whereas ''obiter dicta'' are persuasive only. Significance A judicial statement can be ''ratio decidendi'' only if it refers to the crucial facts and law of the case. Statements that are not crucial, or which refer to hypothetical facts or to unrelated law issues, are ''obiter dicta''. ''Obiter dicta'' (often simply ''dicta'', or ''obiter'') are remarks or observations made by a judge that, although included in the body of the court's opinion, do not form a necessary part of the court's decision. In a court opinion, ''obiter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bona Fide
In human interactions, good faith ( la, bona fides) is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction. Some Latin phrases have lost their literal meaning over centuries, but that is not the case with ''bona fides'', which is still widely used and interchangeable with its generally-accepted modern-day English translation of ''good faith''. It is an important concept within law and business. The opposed concepts are bad faith, ''mala fides'' (duplicity) and perfidy (pretense). In contemporary English, the usage of ''bona fides'' is synonymous with credentials and identity. The phrase is sometimes used in job advertisements, and should not be confused with the ''bona fide'' occupational qualifications or the employer's good faith effort, as described below. ''Bona fides'' ''Bona fides'' is a Latin phrase meaning "good faith". Its ablative case is ''bona fide'', meaning "in good faith", which is often used as an adjective to mean " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pari Passu
''Pari passu'' is a Latin phrase that literally means "with an equal step" or "on equal footing". It is sometimes translated as "ranking equally", "hand-in-hand", "with equal force", or "moving together", and by extension, "fairly", "without partiality". Etymology :* '' pari'' is the ablative singular masculine (since it must grammatically agree with ''passu'') of the adjective ''par'', "equal". If it were nominative, "an equal step" it would be ''par passus''. :* ''passu'' is the ablative of the Latin noun ''passus'', "step". This term is commonly used in law. ''Black's Law Dictionary'' (8th ed., 2004) defines ''pari passu'' as "proportionally; at an equal pace; without preference". Usage In inheritance In inheritance, a ''pari passu'' (''per capita'') distribution can be distinguished from a ''per stirpes'' (by family branch) distribution. For example, suppose a testator had two children A and B. A has two children, and B has three. * If the testator leaves his or her en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Canada
The Parliament of Canada (french: Parlement du Canada) is the federal legislature of Canada, seated at Parliament Hill in Ottawa, and is composed of three parts: the King, the Senate, and the House of Commons. By constitutional convention, the House of Commons is dominant, with the Senate rarely opposing its will. The Senate reviews legislation from a less partisan standpoint and may initiate certain bills. The monarch or his representative, normally the governor general, provides royal assent to make bills into law. The governor general, on behalf of the monarch, summons and appoints the 105 senators on the advice of the prime minister, while each of the 338 members of the House of Commons – called members of Parliament (MPs) – represents an electoral district, commonly referred to as a ''riding'', and are elected by Canadian voters residing in the riding. The governor general also summons and calls together the House of Commons, and may prorogue or dissolve Parliament, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patricia Rowbotham
Patricia A. Rowbotham, (born Dec.8, 1953) is a Canadian judge who is currently a Justice at the Alberta Court of Appeal in Calgary, Alberta, Canada. She earned an LL.B. in 1981 from the Faculty of Law at the University of Calgary and an LL.M. from Cambridge University in 1984. Rowbotham clerked at the Supreme Court of Canada after law school and was a bencher of the Law Society of Alberta. She was first appointed to the judiciary as a judge at the Alberta Court of Queen's Bench by Anne McLellan on June 9, 1999. On June 1, 2007, Prime Minister Stephen Harper appointed Madame Justice Patricia Rowbotham to the Alberta Court of Appeal. In addition to being a Justice of the Alberta Court of Appeal, Patricia Rowbowtham was, on the recommendation of the Minister of Justice, also appointed Judge of the Court of Appeal of the Northwest Territories, of the Court of Appeal of Nunavut, and member ex-officio of the Alberta Court of Queen's Bench. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alberta Court Of Appeal
The Court of Appeal of Alberta (frequently referred to as Alberta Court of Appeal or ABCA) is a Canadian appellate court. Jurisdiction and hierarchy within Canadian courts The court is the highest in Alberta, Canada. It hears appeals from the Alberta Court of King's Bench, the Provincial Court of Alberta, and administrative boards and tribunals, as well as references from the Lieutenant Governor in Council (essentially the Alberta Cabinet). Some administrative appeals may bypass the Court of King's Bench, commonly orders made by professional discipline boards under the ''Medical Profession Act'', the ''Legal Profession Act'', but also under the ''Energy Resources Conservation Act''. Appeals from the Court of Appeal lie with the Supreme Court of Canada, Canada's court of last resort. Other than certain criminal matters, appeals to the Supreme Court of Canada are heard only by leave of that court. Since the Supreme Court denies leave in most cases, the Court of Appeal is th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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