In a recent decision 9354-9186 Québec inc. v. Callidius Capital Corp, 2020 SCC 10 , the Supreme Court of Canada affirmed that: Background Bluberi Gaming Technologies Inc. (“Bluberi”) manufactured electronic casino gaming machines. In 2012, Bluberi sought and received financing in the amount of $24-million from Callidus Capital Corporation (“Callidus”). Bluberi lost significant amounts of money over the following three years, and Callidus continued to extend credit. By 2015, Bluberi owed Callidus approximately $86 million.…
The current COVID-19 market environment presents unique circumstances to companies and investors who may, as a result of the tumultuous markets and the financial and personal effects of COVID-19, have opportunities to acquire distressed businesses at potentially depressed prices. Particularly in this market environment, though, one or more of the following scenarios may apply: The target needs to consummate a sale quickly because the target’s cash resources are dwindling. The buyer wonders whether the distressed…