PT  - JOURNAL ARTICLE
AU  - Steven J Weisz
AU  - Beth E Posno
TI  - Recent Case Law on Cross-Border Guarantees
AID  - 10.3905/JPE.2009.12.3.104
DP  - 2009 May 31
TA  - The Journal of Private Equity
PG  - 104--107
VI  - 12
IP  - 3
4099  - https://pm-research.com/content/12/3/104.short
4100  - https://pm-research.com/content/12/3/104.full
AB  - Two recent cases decided under the Companies’ Creditors Arrangement Act highlight some potential snares in coordinating U.S. and Canadian insolvency proceedings. In both cases, the Canadian debtors had guaranteed the obligations of their U.S. affiliates, in one case under a secured loan and in the other under a debtor in possession loan. These cases illustrate how the Canadian courts are dealing with the issue of cross-border guarantees and the extent to which they are concerned that the interests of Canadian unsecured creditors be considered.TOPICS: Private equity, legal/regulatory/public policy, developed, financial crises and financial market history