The significant priorities cases in 2020 arose in every imaginable context from the sale of residential properties to construction projects to remediating environmental damage. The overarching theme was that most cases dealt with a dispute between lenders’ registered security interests and unregistered interests that arose as a result of various statutory trusts or priorities in favour of governments.
Defaulting on a business loan is a reality for many Canadian businesses, especially during COVID-19. But what happens when you default? And are there any ways to avoid the worst consequences of a default? What to expect when your bank demands payment The first thing the bank will do will be to demand payment andContinue reading “What happens if you default on a business loan?”