Ontario Bar Association
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?
Pallett Valo Speaker:
Ray Mikkola, Partner
Wednesday, January 19, 2022
12:00pm to 2:00pm
Substantive Hours: 2 hours
The OBA has been approved as an Accredited Provider of Professionalism Content by The Law Society of Ontario.
Please register directly.