Sentences with phrase «priority over dip»

They asserted that their claim had priority over the DIP lenders because the unfunded pension liabilities created a statutory deemed trust under the PBA; and

Not exact matches

On this, the SCC held that the DIP charge given under the CCAA had priority over the provincial deemed trust based on the doctrine of paramountcy (Indalex, para 60).

The Court unanimously found that the DIP charge had super priority, which prevailed over the PBA deemed trust.

However, the SCC overturned the Ontario Court of Appeal in its finding of the priority of the deemed trust, unanimously maintaining that the deemed trust would not be granted super-priority over the DIP lenders.