In the News Detail
news headline
Ivanhoe To Seek Leave To Appeal ABCP Ruling
SOURCE
National Post
AUTHOR
Jim Middlemiss
DATE
August 20, 2008
In the wake of the ruling on asset-backed commercial paper, Derrick Tay, chair of the Insolvency and Restructuring team, is quoted in the Financial Post reflecting on the decision made by the Ontario Court of Appeal.
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Excerpt
Insolvency lawyer Derrick Tay of Ogilvy Renault said, ''Every 'compromise and arrangement' done under the CCAA almost by definition affects contractual or proprietary rights. It happens in every restructuring under the CCAA. The legislature could not have been more explicit in its intention than by using this very broad and encompassing phrase [compromise and arrangement]. This is what the Court of Appeal found and they are clearly correct.''
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