Davis LLP Successfully Defends Secured Creditors In Priority Dispute At The BC Court Of Appeal

Davis LLP Business Solutions & Restructuring Bulletin

December 13, 2010

In an important recent decision of the BC Court of Appeal, Davis LLP successfully represented its clients Century McMynn Leasing Partnership and GE Finance in Re Perimeter Transportation Ltd., 2010 BCCA 509. The case related to a priority dispute between a trustee in bankruptcy of a lessee, a lessor who had not perfected the security interest of its lease, and a validly registered and perfected secured creditor of the lessor. The interplay between these roles was the source of disagreeing trial-level decisions in Alberta and Saskatchewan, and Perimeter is the only appellate level decision on this matter.