In the past 15 years or so, the economies of Canada and the United States have become increasingly integrated. The world economy now finds successful companies with operations in numerous jurisdictions at the same time. Typically, doing business throughout North America across national borders is seamless. Canada is the United States’ largest trading partner, and companies in both countries are accustomed to an integrated and unified business environment. However, when companies experience financial distress and insolvency looms, the cross-border nature of business can exacerbate these difficulties, as companies’ assets, operations, and creditors may well be situated in different jurisdictions with different insolvency laws.

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