Blue Tinting: Commodity Supply Contracts in Androscoggin Energy LLC
by Robin Schwill and Rupert Chartrand; Osler, Hoskin & Harcourt LLP; Toronto
Can a court ordered stay of proceedings under the Canadian restructuring statute, the Companies’ Creditors Arrangement Act (the “CCAA”) apply to a contract for the supply of natural gas? This depends in part on whether the contracts fall within the definition of “eligible financial contracts” under the CCAA, and, in part, on the terms of the contracts.
What constitutes an eligible financial contract for the purposes of §11.1 of the CCAA was recently reconsidered in insolvency proceedings in respect of Androscoggin Energy LLC.
Plan Proponent Beware! The Doctrine of Res Judicata and Post-confirmation Avoidance Actions
by Michael D. Sousa
As many will recall from first-year civil procedure, the doctrine of res judicata precludes a party from litigating claims that were or could have been asserted in a prior proceeding. In order for the doctrine of res judicata to apply, most courts require the presence of at least three factors:
- A final judgment on the merits, rendered by a court of competent jurisdiction, in a prior action involving;
- The same parties or their privies; and
- A subsequent suit based on the same cause of action.
However, most courts also recognize an exception to the res judicata doctrine. A particular litigant’s claims will not be precluded under the doctrine of res judicata if the court in an earlier action expressly reserves the litigant’s right to bring those claims in a subsequent action.
Agenda for the 2005 Annual Spring Meeting
The committee will present a joint program with the Ethics Committee on the retention and use of conflicts counsel at the 2005 Annual Spring Meeting on Saturday, April 30, 2005 at 9:30 a.m.