Where budgets have allowed for electronic conversion of certain materials, and that conversion process has
stopped at a certain date and does not include the entire collection.
Applying the common - law «interest
stops rule» normally applied in Bankruptcy and Insolvency Act proceedings, Justice Newbould ruled that post-filing interest was not payable on the Crossover Bonds.5 Justice Newbould began his reasons with reference to the «fundamental tenet of insolvency law that all debts shall be pari passu and all unsecured creditors [shall] receive equal treatment».6 Justice Newbould found that the status quo with respect to unsecured creditors should be maintained as
at the
date of Nortel's filing and that to permit
certain claims to grow disproportionately to others during the CCAA stay period would violate the status quo.