Effective January 1, 2026, the new Illinois Receivership Act will come effective to provide litigators in Illinois with expanded tools for creditors and distressed businesses to protect and manage assets during a business...more
In a recent judgment, which was heavily critical of the claimant bank, the BVI Commercial Court has set aside an order obtained ex parte permitting service on non-BVI resident defendants of a fraud claim out of the...more
Feb 2024 On 12 January 2024, the Honourable Mr Justice Kawaley granted an order for the appointment of receivers pursuant to Section 224 of the Companies Act (2023 Revision) (the “Act”), over the Premier Life Settlement Fund...more
Bankruptcy is Not an Option - Bankruptcy can be a very helpful tool for a distressed business. Bankruptcy allows a business to stop collection actions, discharge certain debts, cancel unfavorable contracts, and provides...more
The Ontario Court of Appeal recently released the second of two highly anticipated decisions stemming from the receivership proceedings of Dianor Resources Inc. The first decision clarified the test used to determine when a...more
The general notion behind receiverships is to preserve property pending the outcome of a case, or the foreclosure of real property or such other time as the Court deems a Receiver is not required....more