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Supreme Court will hear Appeal in Indalex Canada Pension Priority Case

December-1-2011

Lawyer Brian Empey
Area Corporate Restructuring, Corporate and Commercial, Corporate Finance and Securities, Mergers and Acquisitions, Employment and Labour, Litigation, Personal Tax & Estates

Summary

The Supreme Court of Canada today granted an application brought by Goodmans on behalf of Sun Indalex Finance, LLC for leave to appeal from the Ontario Court of Appeal’s decision released in April of this year.  At issue is whether the Court of Appeal erred when it granted priority after the fact in favour of two groups of pensioners ahead of a Court ordered super-priority debtor-in-possession financing charge that had been approved by the Court handling Indalex Canada’s restructuring under the Companies’ Creditors Arrangement Act.

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