|
|
Article: Energy Update - June 2009.
- Article from:
- Mondaq Business Briefing
- Article date:
- June 9, 2009
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Energy Update - June 2009
This is a joint publication by our Energy, Regulatory and Energy Litigation Practice Groups ROFRs In The CCAA Process By Donald E. Greenfield, Laurel Lui Maclean, Nazeef Muhammad
CCAA Impact on Third Party Rights Generally, ROFRs have been honoured in Companies' Creditors Arrangement Act (CCAA) proceedings, as a ROFR is a substantive right and it has been held that a Court cannot permanently strip a third party of its substantive rights under the CCAA.
However, courts may interfere with third party and creditor rights under s. 11 of the CCAA. Re Metcalfe & Mansfi eld Alternative Investments II Corp. ("Metcalfe"), a ...