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Legal Blog:
Jun
01
2011
Indemnification
Corporate lawyers often insert an indemnification provision in their basic corporate bylaws. This indemnification provision can come back to haunt the original controlling shareholder(s). The decision in Med-Chem Health Care Ltd. v. Misir (1990) 103 O.R. (3d) 769 (C.A.) demonstrates how.
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01
2011
Priorities
There is always a tension between family law and debtor and creditor law. When does the family law creditor, usually a spouse and usually the wife, jump the queue and when is the spousal creditor lumped in with all of the debtor’s other creditors? We know that when a family law award is for maintenance of the spouse, the spouse has a bankruptcy priority over other creditors (see newsletter of August 2007). But what happens when a spouse has received an equalization payment award? That issue was covered in Thibodeau v. Thibodeau, a 2011 decision of the Ontario Court of Appeal.
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