conferenceU B C C E N T R E F O R B U S I N E S S L A W , A L L A R D S C H O O L O F L A W

14thFEBRUARY 16-17, 2017, MONTRÉAL

2017 Conference Co-Chairs: Mr Justice Mark Schrager, Cour d’appel du QuébecJean-Daniel Breton, Ernst &Young Inc, Montréal, IICPhilippe Bélanger, McCarthy Tétrault LLP, Montréal, IICDr Janis Sarra, University of British Columbia, Peter Allard School of Law, Vancouver, IIC

ARIL Co-Editors: Dr Janis Sarra and Madam Justice Barbara Romaine, Alberta Court of Queen’s Bench

5:00 pm - 6:00 pm

6:00 pm - 7:00 pm

THURSDAY FEBRUARY 16, 2017PERFORMANCE AND OPENING RECEPTIONLE WINDSOR BALLROOMS, 1170, RUE PEEL, MONTRÉAL

PERFORMANCEThe Foreclosure Follies: Greek Chorus and Global Financial Markets, première of an original work, featuring Live Canon UK and guests, (director: Dr Helen Eastman, composer: Alex Silverman).

RECEPTION Co-hosted by Borden Ladner Gervais LLP and Ernst & Young Inc

7:00 am - 4:30 pmFRIDAY FEBRUARY 17, 2017CONFERENCEHOTEL BONAVENTURE, 900 DE LA GAUCHETIÈRE W, MONTRÉAL

ANNUAL REVIEW OF

INSOLVENCY LAW

SUSTAINING SUPPORTER PLATINUM SPONSOR

GOLD SPONSORS

OPENING EVENTS

7:00 am - 8:00 am BREAKFAST & REGISTRATION

8:00 amBallroom A

WELCOME Conference Co-Chair Dr Janis Sarra, University of British Columbia, Peter Allard School of Law, Vancouver, IICIntroduction of Keynote Speaker: Philippe Bélanger, McCarthy Tétrault LLP, Montréal, IIC

8:05 am - 8:30 amBallroom A

THE HONOURABLE DONALD BRENNER MEMORIAL KEYNOTE Marc-André Blanchard, Ambassador and Permanent Representative of Canada to the United Nations

8:30 - 9:00 amBallroom A

PLENARY PANEL: CANADA 150 — REFLECTING ON THE PAST, CONSIDERING THE FUTURE OF CANADA’S INSOLVENCY REGIME Chair: Regional Senior Justice Geoffrey Morawetz, Ontario Superior Court of JusticeThe Honourable Clément Gascon, Supreme Court of Canada Dr Janis Sarra, University of British Columbia, Peter Allard School of Law, Vancouver, IICEdward Sellers, Black Swan Advisors Inc, Toronto, FIIC

9:10 am - 9:50 am CONCURRENT PANELS

PANEL ABallroom B

PATHS TO RESTRUCTURING – KEEPING ONE’S EYE ON THE “TARGET”Chair: Madam Justice Barbara Romaine, Alberta Court of Queen’s BenchAl Hutchens, Alvarez & Marsal Canada ULC, Toronto, IICLinc Rogers, Blake, Cassels & Graydon LLP, Toronto, IIC Linda Galessiere, McLean & Kerr LLP, Toronto

PANEL BBallroom A

SET-OFF AND CONSTRUCTIVE TRUST IN INSOLVENCY PROCEEDINGSChair: Mr Justice Frank Newbould, Ontario Superior Court of JusticeMichelle Grant, Ernst & Young Inc, Vancouver, IIC and Vicki Tickle, Fasken Martineau DuMoulin LLP, Vancouver co-authored with Lance Williams, DLA Piper (Canada) LLP, Vancouver, Is that My Receivable? Luc Morin, Fasken Martineau DuMoulin LLP, Montréal, co-authored with Guillaume-Pierre Michaud, Fasken Martineau DuMoulin LLP, Montréal, The Concept of Set-Off Particularly in a CCAA Context

PANEL CFontaine CD

APPEALS UNDER THE BANKRUPTCY AND INSOLVENCY ACT Chair: Madam Justice Georgina Jackson, Saskatchewan Court of AppealKenneth Kraft, Dentons Canada LLP, Toronto, co-authored with Ethan Chang, The Judge Got it Wrong? A Look at the Appeal Provisions of the BIACommentators: Sylvain Vauclair, Woods LLP, Montréal, IICMatthew Lem, MNP Ltd, Toronto

PANEL DSalon Bonaventure

(upstairs)

A NEW FRAMEWORK FOR CONSUMER CREDIT IN CANADA Chair: Mr Justice Paul Walker, British Columbia Supreme CourtProfessor Micheline Gleixner, Faculté de droit, Université de Moncton, Reconsidering Legislative Competence over Consumer Credit in CanadaCommentators: Isabelle Desharnais, Borden Ladner Gervais LLP, Montréal Susan L Robinson Burns, Miles Davison LLP, Calgary

10:00 am - 10:40 am CONCURRENT PANELS

PANEL EBallroom A

UNPACKAGING PRE-PACKSChair: Mr Justice David Brown, Ontario Court of AppealMatthew Nied, Cassels Brock & Blackwell LLP, Vancouver, co-authored with Natalie Levine, Cassels Brock & Blackwell LLP, Toronto, Pre-Packaged Sales Transactions under the CCAA: Where are These Packages From, What do They Look Like, and Where are They Going? Tushara Weerasooriya, McMillan LLP, Toronto, co-authored with Caireen Hanert, McMillan LLP, Calgary, Adam Maerov, McMillan LLP and Kourtney Rylands, McMillan LLP, Pre-Packs under the Companies’ Creditors Arrangement Act: Has the Push for Efficiency Undermined Fairness? Commentator: Michael Stewart, Alvarez & Marsal Canada ULC, Toronto

PANEL FFontaine CD

THE EVOLVING ROLE OF THE “INFORMATION OFFICER”Chair: Mr Justice Martin Castonguay, la Cour supérieure du QuébecBrian Empey, Goodmans LLP, Toronto IIC and Andrea Yandreski, McKinsey & Company, Toronto, Officer of the Court: Exploring the Role of the Information Officer Commentator: Christopher Ramsay, Clark Wilson LLP, Vancouver IIC

PANEL GBallroom B

NEW COVENANTS FOR NEW TIMESChair: Madam Justice Shelley Fitzpatrick, British Columbia Supreme CourtPeter Birkness, McCarthy Tétrault LLP, Calgary and Sarah Hawco, BDO Canada Limited, Calgary, Cause and Effect: Oil Prices and Calgary Lending Practices, An Examination of Recent Developments in the Calgary Lending MarketCommentator: D William Kennedy, National Bank, Montréal, FIIC

PANEL HSalon Bonaventure

(upstairs)

INTERMEDIARIES IN CONSUMER INSOLVENCYChair: Madam Justice Lynne Leitch, Ontario Superior Court of JusticeWilliam Courage, BDO, Owen Sound, Ontario, IIC, Who’s in Charge Here – Is there a Proliferation of Intermediaries in the Consumer Insolvency Market?Commentators: Guylaine Houle, Pierre Roy & Associés, MontréalRyan Brown, 4 Pillars Consulting Group Inc, Huntsville

10:40 am - 11:00 am HEALTH BREAK

11:00 am - 11:40 pm CONCURRENT PANELS

PANEL IBallroom A

TO BOLDLY GO…Chair: Madam Justice Karen Horner, Alberta Court of Queen’s BenchBrandon Farber, Fasken Martineau DuMoulin LLP, Montréal, co-authored with Alain Riendeau, Fasken Martineau DuMoulin LLP, Montréal, IIC Using the CCAA to Achieve a Global Resolution of Complex Litigation “To Infinity and Beyond!” - Buzz Lightyear, Toy StoryCommentator: Andrew Adessky, Richter Groupe Conseil Inc, Montréal, IICAlexis Teasdale, Bennett Jones LLP, Calgary

11:00 am - 11:40 pm CONCURRENT PANELS CONTINUED

PANEL JFontaine CD

THE DUTY TO CONSULT FIRST NATIONS IN INSOLVENCY MATTERSChair: Mr Justice Robert M Mainville, Cour d’appel du QuébecColin Brousson, Gowling WLG, Vancouver, IIC, Canadian First Nations and Insolvency Proceedings, How Much Influence? Commentators: Maxime Faille, Gowling WLG, Vancouver and MontréalGrand Chief Peter Johnston, Council of Yukon First Nations, Whitehorse

PANEL KBallroom B

PARAMOUNTCY IN THE POWER PATCHChair: Mr Justice Louis J Gouin, la Cour supérieure du QuébecJeff Oliver, Cassels Brock & Blackwell LLP, Calgary and Tom Cumming, Gowling WLG, Calgary, Redwater and the Evolution of 14.06 - Balancing Insolvency and Regulatory Laws in the Oil PatchCommentator: David R Wingfield, Sutts Strosberg LLP, Toronto

PANEL LSalon Bonaventure

(upstairs)

GAMBLING ON THE FUTUREChair: Madam Justice Christiane Alary, la Cour supérieure du Québec Dr Anna Lund, University of Alberta Faculty of Law, Edmonton, Gambling Debt in Personal Insolvency Proceedings: The Approach of Insolvency Trustees and Judicial OfficersCommentators: Sanjeev Mitra, Aird & Berlis LLP, TorontoDr Garry Smith, Alberta Gambling Research Institute, Edmonton

11:50 pm - 12:30 pm CONCURRENT PANELS

PANEL MBallroom B

A TAXING MATTERChair: Mr Justice Sean Dunphy, Ontario Superior Court of Justice Jean-Daniel Breton, Ernst & Young, Montréal, IIC, Distribution Certificates – Have We Found the Holy Grail? Commentator: Jonathan Krieger, Grant Thornton Limited, Toronto, IICFrançois Viau, Gowling WLG, Montréal

PANEL NBallroom A

DISENGAGEMENT, CAUSE FOR CONCERN?Chair: Regional Senior Justice Geoffrey Morawetz, Ontario Superior Court of Justice Andrew Hatnay, Koskie Minsky LLP, Toronto, Restructuring, Liquidating, Now Disengagement? The Use of the CCAA by Corporate Parents to Disengage from Canadian Operations Commentators: Kelly Bourassa, Blake, Cassels & Graydon LLP, Calgary, IICBarry Wadsworth, UNIFOR, Toronto

PANEL OSalon Bonaventure

(upstairs)

NEW PROFESSIONAL DESIGNATION FOR TRUSTEES Chair: Madam Justice Juliana Topolniski, Alberta Court of Queen’s BenchDaniel Charrette, Deputy Superintendent, OSB, co-authored with Bill James, Superintendent of Bankruptcy, Ottawa, A New Professional Designation for Canada’s Insolvency PractitionersCommentators: Sara Scott, Stewart McKelvey, Halifax Chantal Gingras, Ginsberg, Gingras & Associates Inc, Gatineau/Ottawa

PANEL PFontaine CD

UNSEIZABLE Chair: Mr Justice Brian Riordan, la Cour supérieure du QuébecJulien Archambault, LCM Avocats, Montréal, Les impacts du nouveau Code de procédure civile en matière de procédures sous la Loi sur la faillite et l’insolvabilité Commentators: Julie Himo, Norton Rose Fulbright Canada LLP, Montréal, IICMarie-Élaine Racine, Joli-Coeur Lacasse, Québec City

12:30 pm - 1:45 pm LUNCHEON KEYNOTE

Fontaine AB Introduction of Keynote Speaker Jean-Daniel Breton, Ernst & Young, Montréal, IICProfessor Edward Waitzer, Director of Hennick Centre for Business and Law, York University and Stikeman Elliott LLP, Toronto, Climate Change – A Case Study/Tipping Point for Rebalancing Interests in Insolvency Law?, co-authored with Dr Janis Sarra, University of British Columbia Peter Allard School of Law, Vancouver, IIC

1:50 pm to 2:30 pm CONCURRENT PANELS

PANEL QBallroom B

UNPERFECTED SECURITY INTERESTSChair: Mr Justice Darrell Stephenson, Court of Queen’s Bench, New BrunswickProfessor Mike Gedye, University of Auckland Business School, The Effectiveness of Unperfected Security Interests in Insolvency, the Different Approaches Taken in Canada, Australia and New ZealandCommentators: Michael Hanlon, McMillan LLP, Montréal Anthony Tillman, KPMG LLP, Vancouver

PANEL RBallroom A

BULLET-PROOF VESTING ORDERSChair: Mr Justice Herman Wilton-Siegel, Ontario Superior Court of Justice Tim Louman-Gardiner, Farris, Vaughan Wills and Murphy, Vancouver, Bullet-Proof Vesting Orders, The Historical Development and Modern Limits on the Court’s Jurisdiction to Vest Commentators: Marc Duchesne, Borden Ladner Gervais LLP, Montréal, IIC Allan Nackan, Farber Financial Group, Toronto

PANEL SFontaine CD

THE MODULAR APPROACH TO THE INSOLVENCY OF MICRO, SMALL AND MEDIUM ENTERPRISESChair: Madam Justice Barbara Romaine, Alberta Court of Queen’s Bench Dr Irit Mevorach, University of Nottingham, UK and Dr Ignacio Tirado, Universidad Autonoma De Madrid, Spain, co-authored with Dr Ronald Davis, Dr Stephan Madaus, Dr Alberto Mazzoni, Dr Riz Mokal, Justice Barbara Romaine, and Dr Janis Sarra, The Modular Approach to MSME Insolvency

PANEL TSalon Bonaventure

(upstairs)

PAYDAY LENDING AND BANKRUPTCY – TIME FOR A NEW APPROACH?Chair: Madam Justice Sarah Pepall, Ontario Court of AppealProfessor Stephanie Ben-Ishai, Osgoode Hall Law School, Toronto, IIC, co-authored with Professor Saul Schwartz, School of Public Policy and Administration, Carleton University, Payday Lending in Canada: 10 Years Later Commentator: Karen Adler, Rumanek & Company Ltd, Toronto

2:35 pm to 3:15 pm CONCURRENT PANELS

PANEL UFontaine CD

NOT A NEAT FITChair: Mr Justice Craig Jones, Alberta Court of Queen’s BenchTevia Jeffries, Dentons Canada LLP, Vancouver, co-authored with Ray Power, Knowles Intern in Insolvency Law, A Matter of TrustBuddy: When Online Lenders FailMelanie Gaston, Osler, Hoskin & Harcourt LLP, Alberta, co-authored with Sandra Abitan, Osler, Montréal, IIC and Janice Buckingham, Osler, Alberta The Effects of Various Insolvency Proceedings on Joint Venture Interests in the Canadian Energy Industry Commentator: Jocelyn Perreault, McCarthy Tétrault LLP, Montréal

PANEL VBallroom A

RECEIVERSHIPSChair: Mr Justice Stephen W Hamilton, la Cour supérieure du QuébecSherry Kettle, Miller Thomson LLP, London Ontario, The Creative Receivership Commentators: Sylvain Rigaud, Norton Rose Fulbright Canada LLP, Montréal, IICRobert Taylor, Deloitte, Calgary

PANEL WBallroom B

WHAT PRICE INSOLVENCY?Chair: Mr Justice Fred Myers, Ontario Superior Court of JusticeLance Williams, DLA Piper (Canada) LLP, Vancouver, Substance over Form? A Review of the Evolving Practice for Approving the Fees of Court OfficersCommentators: Todd Martin, Alvarez & Marsal Canada ULC, Vancouver, IICRobert Thornton, Thornton Grout Finnigan LLP, Toronto, IIC

PANEL XFontaine AB

CASE COMMENTS Chair: Mr Justice Babak Barin, la Cour supérieure du QuébecPhilippe Bélanger, McCarthy Tétrault LLP, Montréal, IIC L’Arrêt Lemare Lake, change-t-il la practique au Québec en matière de nomination de séquestre?, co-authored with Sylvain Rigaud, Norton Rose Fulbright Canada, Montréal, IICAri Sorek, Dentons Canada LLP, Montréal, Treatment of Payment Processors In Insolvency Contexts: Critical Suppliers, Critical Creditors, or Purveyors of Conditional Credit? A Case Comment of the Decision in Re 7098961 Canada Inc (Beyond The Rack Enterprises Inc)

PANEL YSalon Bonaventure

(upstairs)

MANAGING PENSIONS IN INSOLVENCY LAW Chair: Madam Justice Chantal Corriveau, la Cour supérieure du QuébecMartin Neveu, Normandin Beaudry, Montréal and Martin Cyrenne, Normandin Beaudry, Montréal, co-authored with Corinne Escaravage and Philippe Levac, Normandin Beaudry, Montréal, Pension and Insolvency Law: Is it Manageable?Commentator: Mark Zigler, Koskie Minsky, Toronto

CLOSING EVENTS

3:20 pm - 4:00 pmBallroom A

CLOSING PLENARY: BREXIT AND THE IMPLICATIONS FOR INTERNATIONAL INSOLVENCY LAWChair: Mr Justice Mark Schrager, Cour d’appel du QuébecDr Riz Mokal, South Square Chambers London, and Visiting Professor, University of FlorenceLucas Kortmann, Resor, NL, INSOL Fellow

4:00 pmBallroom A

CLOSING THANKSMr Justice Mark Schrager, Cour d’appel du Québec, conference co-chair

4:00 pm - 4:30 pm CLOSING RECEPTION - outside Ballroom A

SILVER SPONSORS BRONZE SPONSORS

Thank you to the Editorial Advisory Board members for their service:Editors-in-ChiefDr Janis Sarra, UBC, Peter Allard School of Law The Honourable Barbara Romaine, Alberta Court of Queen’s BenchEditorial Advisory Board Jean-Daniel BretonPhilippe BélangerKevin BrennanMary ButteryDr Ronald B DavisThe Honourable James Farley, QCThe Honourable Shelley FitzpatrickThe Honourable Clément GasconJohn Grieve The Honourable Georgina R JacksonRobert R MacKeigan, QCPatrick McCarthyDouglas R McIntoshThe Honourable Geoffrey MorawetzThe Honourable Marina PapernyEdward SellersThe Honourable Mark SchragerDr Thomas TelferStudent EditorChristopher Huygen

Thank you to the Conference Co-Chairs (listed on the front page).

Thank you to the following firms for their support for travel of the speakers:Aird & Berlis LLPAlvarez & Marsal Canada ULCBDO Canada LimitedBennet Jones LLPBlack Swan AdvisorsBlake Cassels & Graydon LLPCassels Brock & Blackwell LLPClark WilsonDeloitteDentons Canada LLPDLA Piper (Canada) LLPErnst & Young IncFarber Financial GroupFarris, Vaughan Wills and MurphyFasken Martineau DuMoulin LLPGinsberg, Gingras & Associates IncGoodmans LLPGowlings WLGGrant Thornton LimitedIndustry CanadaJoli-coeur LacasseKoskie Minsky LLPKMPGMcCarthy Tétrault LLPMcKinsey & Company McLean & Kerr LLPMcMillan LLPMiles Davison LLPMiller Thomson LLP

MNP LLPRumanek & Company LtdStewart McKelvey LLPSutts Strosberg LLPThornton Grout Finnigan LLP4 Pillar Consulting Group Inc. Thank you to our staff, who work so hard on a part-time basis to make the conference a success:Kate Shepherd, Sandy Mulholland, Joanne Forbes, Allyson Woodrooffe, Earl Dyer, Danny Wong

Thank you to to the student volunteers: Christopher Huygen, Ray Power, Travis Kelley, Jaclyn Mansfield, Daniel Schipper, Michael Cremers, Tracy Simpson, Mary Grace Johnstone, Ben Muller, Geena Lee, Jordan Kostaschuk, Colleen Morawetz, Raymond Grafton, Oleg Stratiev, Serena El-Asmar, Elyse Rondeau, Hannibal El-Mohtar, Carla Dombowsky, Charles Hébert, Etienne Gendron Thank you to our sponsors for their generous support of the conference.

Most importantly, we would like to thank all of the authors and speakers for their tremendous contribution to both the volume and to the conference.

SAVE THE DATE - FEBRUARY 9, 2018 VANCOUVER