The COVID-19 pandemic has resulted in several large retail operations seeking insolvency protection both under the Companies Creditors Arrangement Act (CCAA) in Canada and under its US equivalent, Chapter 11. In Canada, this list includes retail giants Aldo Group and Reitmans Group. In the United States, since the beginning of May, Hertz US, J.C. Penney, Neiman Marcus and Pier 1 Imports have all filed for protection.
The Canada Emergency Commercial Rent Assistance (CECRA) program was created by a partnership between the governments of Quebec and Canada to provide rent relief and assistance to small businesses. Navigating the world according to CECRA is complicated – contracts and enrollment necessitate understanding of how the Federal and Provincial governments are working with an intermediary…
Just as small businesses across the country, Not-for-profit organisations (NPOs) and Registered Charities have been severely impacted by the COVID-19 pandemic. To help your organisation survive the storm, several relief measures and deferrals specific to your sector have been put in place.
On Saturday April 11, 2020 The House of Commons held a special assembly to obtain royal assent for Bill C-14, a second Act regarding certain measures in response to COVID-19 . Many of the details surrounding the Canada Emergency Wage Subsidy (CEWS) program were already known, but the following summary should give you more information…
Canadian companies have not made much use of the Bankruptcy and Insolvency Act over the past 10 years1 likely due to years of growth spurred by abundant capital and easy access to credit. Unfortunately, 2020 will likely see a reverse of this trend. The COVID-19 pandemic is hitting the entire economic world on a global scale.
COVID -19 M&A Considerations: our professionals highlight the important points that stakeholders in a transaction should consider.
COVID-19 | Summary of economic measures announces by governments to help stabilize the economy during this challenging period.