Preet Gill

Bennett Jones LLP

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It's Official—Proposed Criminal Interest Rate Amendments Introduced

On April 20, 2023, the Canadian government introduced Bill C-47, the Budget Implementation Act, 2023, No. 1 (the Bill), which includes the long awaited proposed amendments to the criminal interest rate....more

4/25/2023 / Automotive Loans , Banking Sector , Canada , Consumer Financial Products , Consumer Lenders , Debt Restructuring , Financial Institutions , Interest Rates

Government Seeks Feedback on Lowering the Criminal Rate of Interest

The government of Canada is seeking feedback on proposed changes to lower the criminal rate of interest (currently set at 60%), with a focus on high-cost installment loans. The criminal interest rate provisions in the...more

9/8/2022 / Banking Sector , Canada , Consumer Financial Products , Consumer Lenders , Debt Restructuring , Distressed Debt , Financial Institutions , Interest Rates

Stoneway: Use of the CBCA as a Cross-Border Restructuring Tool

In May 2022, the Canada Business Corporations Act (CBCA) was used to implement a cross-border and international restructuring of a group of companies (collectively known as Stoneway),1 whose principal business is the...more

5/31/2022 / Bankruptcy Code , Canada , Chapter 11 , Corporate Counsel , Corporate Governance , Corporate Restructuring , Cross-Border , Debt Restructuring

Important Restrictions Placed on use of CBCA for Debt Restructurings

In a recent unreported decision denying approval of a plan of arrangement under the Canada Business Corporations Act (CBCA) proposed by Connacher Oil and Gas Limited, Justice C.M. Jones of the Alberta Court of Queen's Bench...more

5/22/2015 / Canada , CBCA , Commercial Bankruptcy , Debt Restructuring

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