Jurisdiction of the Court in CCAA Proceedings: Inherent Jurisdiction vs. Statutory Discretion
Date:
September 1 2005
Since its enactment during the great depression, the Companies’ Creditors Arrangement Act (“CCAA”), has been a somewhat curious statutory creature. As Duff C.J. noted in a Reference re Companies’ Creditors Arrangement Act (Canada), “the aim of the Act is to deal with the existing condition of insolvency, in itself, to enable arrangements to be made, in view of the insolvent condition of the company, under judicial authority which, otherwise, might not be valid prior to the initiation of proceedings in bankruptcy”.
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