TORONTO – A small business lobby group says commercial bankruptcies are rising in Canada and even more small businesses are at risk of closure. Data from the Office of the Superintendent of Bankruptcy Canada shows small business insolvencies have been…
A bankruptcy hearing that could determine whether more than $200 million in oilpatch environmental liabilities wind up on the public dime will have to go back to court. The Alberta Court of Appeal ruled Friday that the long-running bankruptcy of…
LAC-MEGANTIC, Que. – The Quebec government is moving ahead with plans to redistribute $39 million to those impacted by the 2013 rail disaster in Lac-Megantic, Que., that killed 47 people. About $20 million will go directly to victims recognized during…
A recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a…
Some clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for…
With oil prices down nearly 30% over 16 months and bankruptcies on the rise, now might be a good time for brokers to check their oil and gas clients’ insurance policies – especially their directors’ and officers’ (D&O) coverage. Among…
Environmental liability is not the only line of insurance that could be impacted by the recent Supreme Court of Canada ruling on a trustee in bankruptcy’s obligation do deal with inactive energy assets such as oil wells. In Orphan Well…
Brokers could see more demand for environmental liability insurance because of a recent Supreme Court of Canada ruling in favour of the Alberta Energy Regulator, a Toronto underwriter suggests. In Orphan Well Association v. Grant Thornton Ltd., the Supreme Court…