Steven Weisz and Dilina Lallani authored an article for the 2026 Annual Review of Insolvency Law Conference. Steven and Dilina examine the evolving treatment of restructuring support agreements in Canada and the United States, highlighting decisions such as Re Hudson’s Bay Company, where the court declined to approve an RFA that granted lenders excessive control and was neither necessary nor appropriate. They contrast this with other cases in which courts approved support agreements negotiated at arm’s length, supported by the monitor, and designed to advance a viable restructuring without usurping creditor rights. Steven and Dilina conclude that Canadian courts apply careful scrutiny to preserve fairness and judicial oversight, while U.S. courts generally take a more permissive approach so long as statutory safeguards, particularly those related to solicitation, are respected.

To read the full article, click here.