New Teleseminars from OPD! Just grab your lunch, dial in by phone, listen and learn. These Teleseminars will provide you with the information you need to know now, with the flexibility of joining the session from work, home or anywhere that there is telephone connection. Simultaneous presentation of materials will be provided online (when available).

Indalex Limited (Re), 2011 ONCA 265

Panellists
John Salmas, Heenan Blaikie LLP (management-side insolvency)
Ken Rosenberg, Paliare Roland LLP (union-side insolvency)
David Vincent, Ogilvy Renault LLP (management-side  pension)
Darrell Brown, Sack Goldblatt Mitchell LLP (union-side pension)

Moderator
Mark Newton, Heenan Blaikie LLP 

On April 7th, 2011, the Ontario Court of Appeal ruled that payment of a wind up deficiency under a pension plan ranks in priority to the claims of certain secured creditors in Companies' Creditors Arrangement Act  proceedings.  The Court of Appeal's decision is a radical shift for CCAA proceedings with potentially significant pension, insolvency and banking law implications. 

While it is anticipated that leave to appeal to the Supreme Court of Canada is being sought, to avoid costly missteps in the interim, it is essential that anyone practising or working in pensions, insolvency/restructuring/bankruptcy or bank lending in Canada are thoroughly aware of the decision’s far reaching and drastic impact.

Join an expert panel comprised of pension and insolvency counsel from both the management/employer and union/employee perspectives, including counsel involved in the case, who will explain the decision, its significance and the uncertainties it has created under both the CCAA and for defined benefit plans. Topics will include:

• Overview and critique of case
• Decision’s impact on secured lending and pension plan funding in Canada
• Insolvency basics and application of CCAA procedures
• Pension basics and making sense of pension plan unfunded liabilities, solvency deficiencies and wind-up liabilities
• Application of deemed trusts under pension legislation to the insolvency process
• Distinctions between proceedings under CCAA and the Bankruptcy and
  Insolvency Act
• The dual roles of pension plan sponsor and pension plan administrator and how a plan administrator can fulfill its fiduciary duties
• Appointment of independent pension plan administrators
• The use of the constructive trust concept by the court
• Implications for directors and officers and for members of pension committees
• Application of the decision outside of Ontario

Plus! There will be an opportunities for Q&A with the panel.

OPD Program Lawyer

Heather Gore

hgore@osgoode.yorku.ca

Please note: You must access the program at the scheduled time. An archived link of the program will not be provided. Call-in information, including electronic materials (where available) will be sent to you via email at least 24 hours before the start of the program. Teleseminar materials will not be made available for sale after the program.