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Key Amendments to the BIA and CCAA - How Will They Change Restructuring Practice in Canada?
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Date: January 18 2010 |
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In connection with the amendments made to the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 ("BIA") and the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36 ("CCAA") in 1997, statutory provisions were included requiring that the administration and operation of the BIA and the CCAA be reviewed by parliamentary committees within five years. As a result, the past decade has seen considerable review of the provisions of bankruptcy and insolvency law in Canada in an effort to determine whether such laws were meeting the needs of debtors, creditors and insolvency professionals, among others.
Reproduced with permission of the publisher from National Creditor Debtor Review, Vol. 24, No. 4, December 2009.
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