Independent obligations endure: CCAA releases don’t extinguish surety indemnity claims
In Intact Insurance Company v. Edward Collins Contracting Limited, 2026 NLSC 49, the Supreme Court of Newfoundland and Labrador dismissed an application to strike a surety’s claim under an indemnity agreement, confirming that releases granted in Companies’ Creditors Arrangement Act (CCAA) proceedings do not automatically extinguish independent contractual obligations of indemnitors. Case summary: Intact v. Collins Contracting (2026 NLSC 49) Background: surety claim and CCAA release defence The plaintiff (Intact)…

