Atlantic Sea Cucumber Ltd. (re)

Atlantic Sea Cucumber Ltd. (re)

The court exercised its discretion and concluded there were no sufficiently cogent or special circumstances to depart from the prevailing insolvency practice that each party bears its own costs; accordingly no costs were awarded to WTH in this costs decision.

Citation
2023 NSSC 325
Parties
Applicant/debtor: Atlantic Sea Cucumber Ltd.; Respondent/creditor: Weihai Taiwei Haiyang Aquatic Food Company Limited; Trustee: MSI Spergel (Trustee)
Court
Supreme Court of Nova Scotia
Jurisdiction
Canada
Judgment Date
13 October 2023
Procedural Posture
Bankruptcy and Insolvency; Application to Convert BIA Proceeding to CCAA / Costs Decision (post Merits Decision)
Outcome
Application to convert BIA proceeding to CCAA previously dismissed on merits; on costs, court declined to depart from practice that each party bears their own costs and did not award costs to the respondent
Legal Topics
Conversion From BIA to CCAA, Costs Awards in Insolvency Proceedings, Tariff C and Lump Sum Costs, Abridgement of Time for Service
Source Language
English
Bankruptcy and Insolvency Companies' Creditors Arrangement Act (ccaa) Civil Procedure Costs Conversion From BIA to CCAA Costs Awards in Insolvency Proceedings Tariff C and Lump Sum Costs Abridgement of Time for Service

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Parties

Atlantic Sea Cucumber Ltd.

Applicant/debtor

Weihai Taiwei Haiyang Aquatic Food Company Limited

Respondent/creditor

MSI Spergel (Trustee)

Trustee

Procedural Posture

Bankruptcy and Insolvency; Application to Convert BIA Proceeding to CCAA / Costs Decision (post Merits Decision)

Legal Issues

  1. 1 Whether to depart from the insolvency practice that each party bears its own costs
  2. 2 Whether the applicant's conduct justified an award of costs against the debtor
  3. 3 Proper quantum of costs and application of Tariff C and possible lump-sum award

Ratio Decidendi

The court exercised its discretion and concluded there were no sufficiently cogent or special circumstances to depart from the prevailing insolvency practice that each party bears its own costs; accordingly no costs were awarded to WTH in this costs decision.

Court Disposition

Application to convert BIA proceeding to CCAA previously dismissed on merits; on costs, court declined to depart from practice that each party bears their own costs and did not award costs to the respondent

Orders

  • Counsel for Atlantic Sea Cucumber Ltd. to draft an Order regarding the court's decision on the merits and costs to be consented to as to form by Weihai Taiwei Haiyang Aquatic Food Company Limited