Ability to Register in Personal Property Registry Not Automatically Stayed by CCAA Initial Order - Case Comment: Re. Western Express Airlines Inc.
Date:
January 1 2004
Companies who seek protection under the Companies’ Creditors Arrangement Act (“CCAA”) typically have multiple creditors, secured and unsecured. The priority of claims as between secured creditors is generally dealt with by the regime set out in the applicable provincial Personal Property Security Act (“PPSA”), which in most circumstances provides that the first party to register in the Personal Property Registry (“PPR”) will have priority in respect of the collateral.
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