Insolvency Insider Features Successful Lawson Lundell Matter in its 'From the Courts' Newsletter
Lawson Lundell lawyers Bryan Gibbons and Noor Mann had one of their matters featured in the Insolvency Insider's 'From the Courts' newsletter that summarizes recent insolvency-focused court decisions. Bryan and Noor represented the construction lender in a successful application for disclaimer of pre-sale contracts and approval of a stalking horse bid relating to a six-storey commercial project in Vancouver. Colin Brousson of DLA Piper represented the receiver, the Bowra Group Inc.
The Stalking Horse Bidder received approval of a stalking horse bid process with respect to the sale of the entire development and a vesting order of title to the stalking horse bidder subject to the outcome of the stalking horse bidding process.
The main issue before the court was whether it was appropriate to grant a vesting order in favour of the stalking horse bidder, subject to a better offer being received. Counsel for the developer argued that a conditional vesting order could not be made, however, the court disagreed and granted the order as it represented the best chance for maximum recovery.
Lawson Lundell was joined in its petition by C.D. Brousson of DLA Piper, who was counsel for the receiver, Bowra Group Inc.
Read the full judgement here.