Implications of the Bluberi decision: An Affirmation of Broad Judicial Discretion in CCAAs and a ‘Green Light’ for Litigation Funding in Canada

On 8 May 2020, the Supreme Court of Canada (“SCC”) released its written reasons in 9254-9186 Quebec inc. v. Callidus Capital Corp. (“Bluberi”), after having issued its unanimous decision from the bench earlier in the year. The decision pertained to a proceeding under the Companies’ Creditors Arrangement Act (“CCAA”) in which substantially all of the debtor’s assets had been liquidated.