OBA Bankruptcy and Insolvency Law / Construction Law PROGRAM | Original Program Date: January 19, 2022

In the past couple of years, a number of high-profile real estate projects have entered insolvency (i.e. Cresford and Urbancorp Group). What happens to the claims of secured creditors when a developer lacks the funds to complete a project and/or pay existing creditors? What happens to purchasers’ investments in such a project? Join us as our expert panel discusses these issues and other related subjects. Hear valuable insight into how practitioners can better advise builders, lenders, investors, trade creditors, lien claimants and individual purchasers on the treatment of their investment, or the status of their security in the event of an insolvency proceeding under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act, including:  

• Who takes over in debtor-driven Companies’ Creditors Arrangement Act proceedings, lender-driven receiverships, and what is the impact on borrowers?
• What happens to purchasers’ investments (i.e. by the impact of a Disclaimer of Purchase Agreement), and construction lien claimants who worked on the project?
• What are the typical forms of sales processes and how long do they usually take?

Register now for this informative and engaging program!

PROGRAM CHAIRS

Bart Sarsh, SimpsonWigle LAW LLP
Alexander Steele, McCarthy Tétrault LLP

PROGRAM SPEAKERS

Milly Chow, Blake, Cassels & Graydon LLP
Naveed Manzoor, FAAN Advisors Group Inc.
Ray Mikkola, Pallett Valo LLP
Sam P. Rappos, Chaitons LLP