ScoZinc Ltd. (Re)

ScoZinc Ltd. (Re)

The Monitor, as an officer of the court appointed under s.11.7 of the CCAA and acting pursuant to a court‑made Claims Procedure Order, has the authority to accept and to revise proofs of claim submitted after the claims bar date but before the Monitor's assessment deadline where the revision conforms to the evidence...

Source-derived case information.

Citation
2009 NSSC 136
Parties
Applicant/debtor: ScoZinc Ltd.; Monitor: Grant Thornton; Creditor/shareholder: Acadian Mining Corporation; Creditor: Royal Roads Corp.; Creditor: Komatsu International (Canada) Inc.
Court
Supreme Court of Nova Scotia
Jurisdiction
Canada
Judgment Date
3 April 2009
Procedural Posture
Companies' Creditors Arrangement Act Proceeding / Motion for Directions on Monitor Authority to Revise Claims During Claims Assessment Period
Outcome
Motion granted. Court held the Monitor has authority to allow revision of claims filed after the claims bar date but before the Monitor's assessment date under the Claims Procedure Order and the CCAA.
Legal Topics
Claims Process and Claims Bar Date, Monitor Powers and Duties, Inherent Jurisdiction of Superior Courts, Revision/amendment of Proofs of Claim, Summary Determination of Claims
Source Language
english
Insolvency Law Corporate Restructuring Civil Procedure Equity and Fiduciary Duty Claims Process and Claims Bar Date Monitor Powers and Duties Inherent Jurisdiction of Superior Courts Revision/amendment of Proofs of Claim +1 more

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Parties

ScoZinc Ltd.

Applicant/debtor

Grant Thornton

Monitor

Acadian Mining Corporation

Creditor/shareholder

Royal Roads Corp.

Creditor

Komatsu International (Canada) Inc.

Creditor

Procedural Posture

Companies' Creditors Arrangement Act Proceeding / Motion for Directions on Monitor Authority to Revise Claims During Claims Assessment Period

Legal Issues

  1. 1 Whether the Monitor has authority to revise upward a Proof of Claim filed after the claims bar date but before the Monitor's assessment date
  2. 2 Scope of the Monitor's powers under s.11.7 of the CCAA and the court's Claims Procedure Order
  3. 3 Role of the court's inherent jurisdiction in authorizing claims procedures

Ratio Decidendi

The Monitor, as an officer of the court appointed under s.11.7 of the CCAA and acting pursuant to a court‑made Claims Procedure Order, has the authority to accept and to revise proofs of claim submitted after the claims bar date but before the Monitor's assessment deadline where the revision conforms to the evidence and the terms of the Claims Procedure Order; the court's inherent jurisdiction and the specific provisions of the claims order authorize such a process, subject ultimately to judicial review.

Court Disposition

Motion granted. Court held the Monitor has authority to allow revision of claims filed after the claims bar date but before the Monitor's assessment date under the Claims Procedure Order and the CCAA.

Orders

  • Monitor granted direction that it had authority to accept and to revise proofs of claim submitted after the claims bar date but before the Monitor's assessment deadline; Notices of Revision or Disallowance issued March 27, 2009 are valid to the extent consistent with this finding