Ontario civil | Bankruptcy and Insolvency
Practice and procedure in courts
Appeals
Leave to appeal order approving sale process was dismissed
Company in which G was shareholder went bankrupt. Estate trustee sought offers for company’s assets and arranged auction. Only bidders were G and brother of another shareholder. Auction was unsuccessful. Trustee sought court approval to conduct second auction. G’s request to adjourn motion for approval was denied and order approving sale process granted. G did not participate in second auction and company’s assets were sold to other bidder. G brought motion for leave to appeal order approving sale process. Motion dismissed. Proposed appeal did not satisfy test for leave. Issues raised by G were not of general importance to practice of bankruptcy and insolvency matters or to administration of justice as whole. Motion judge’s decision not to adjourn proceeding and decision to approve sale process were highly fact-specific and were exercise of judge’s discretion. Neither ground of appeal was prima facie meritorious. There was nothing to suggest error in principle or improper exercise of discretion. Proposed appeal would unduly hinder progress of bankruptcy proceedings.
IceGen Inc., Re (2016), 2016 CarswellOnt 18630, 2016 ONCA 907, E.E. Gillese J.A., M.L. Benotto J.A., and L.B. Roberts J.A. (Ont. C.A.).
Appeals
Leave to appeal order approving sale process was dismissed
Company in which G was shareholder went bankrupt. Estate trustee sought offers for company’s assets and arranged auction. Only bidders were G and brother of another shareholder. Auction was unsuccessful. Trustee sought court approval to conduct second auction. G’s request to adjourn motion for approval was denied and order approving sale process granted. G did not participate in second auction and company’s assets were sold to other bidder. G brought motion for leave to appeal order approving sale process. Motion dismissed. Proposed appeal did not satisfy test for leave. Issues raised by G were not of general importance to practice of bankruptcy and insolvency matters or to administration of justice as whole. Motion judge’s decision not to adjourn proceeding and decision to approve sale process were highly fact-specific and were exercise of judge’s discretion. Neither ground of appeal was prima facie meritorious. There was nothing to suggest error in principle or improper exercise of discretion. Proposed appeal would unduly hinder progress of bankruptcy proceedings.
IceGen Inc., Re (2016), 2016 CarswellOnt 18630, 2016 ONCA 907, E.E. Gillese J.A., M.L. Benotto J.A., and L.B. Roberts J.A. (Ont. C.A.).
