To learn more about the ACIC website and update your bio,click here.
Questions & Comments
Questions or comments about this edition? Please provide feedbackhere
with the subject heading "Monthly Newsletter Feedback".
ACIC PRIVATE NOTES
Happy new year, and welcome to the January 2022 edition of the ACIC Private Notes!
In this edition, you’ll find:
A message from the College’s President, Chris Dallas (Pacific Life);
International legal developments from:
Canada, prepared by Danielle Maksimow (Norton Rose Fulbright Canada); and
The United Kingdom, prepared by Tom Bannister (Akin Gump); and
An article introducing the College’s new officers and trustees, courtesy of Benjamin Cordiano (Morgan Lewis).
Please click here for a message from the ACIC’s new President, Chris Dallas of Pacific Life, as he recounts the College’s brilliant 2021 and looks forward to 2022.
Save the Date for the In-Person Spring Investment Forum
The College will be hosting the 2022 Spring Investment Forum in Chicago, featuring relevant topics and networking opportunities! Details regarding specific panel topics and speakers are soon to follow so SAVE THE DATE!
Registration and agenda to follow.
International Legal Developments
In 2021, the Supreme Court of Canada upheld the Alberta Court of Appeal’s majority decision in Canada v. Canada North Group Inc. In its decision, the Supreme Court confirmed the broad discretionary power the Companies’ Creditors Arrangement Act gives to supervising courts to make any orders they consider appropriate in the circumstances. Such orders may include granting super-priority charges in favour of the experts assisting in the restructuring process, which can take priority over the interests of the Crown and other creditors. Click here to read more, including the practical considerations of this latest ruling.
In the UK, the retail sector has been particularly hard-hit by the COVID-19 pandemic. Even before the pandemic, companies had been struggling due to (among other things) increased competition from online retailers. Faced with decreasing profits, in the years preceding the pandemic, many well-known retailers proposed company voluntary arrangements (CVAs) in an attempt to rationalize their leasehold portfolios and restructure high fixed rental costs. The pandemic only exacerbated the issues in the retail industry, as the digital revolution collided with a (further) decline in footfall. Click here to read an article which considers how, in the early part of 2022, commercial landlords and tenants may seek to address the implications of the pandemic and what the future might hold for operational restructurings in the UK.
Meet the New Officers and Trustees
The ACIC is thrilled to welcome our new slate of officers and three additional trustees. Please click here to learn more about our new officers and trustees.