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Thoughts on Section 13.4 of the
Bankruptcy and Insolvency Act (Canada)
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Date: January 2 2006 |
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Section 13.4 of the
Bankruptcy and Insolvency Act (Canada) (the "BIA") prohibits a trustee in bankruptcy from acting for, or assisting, a secured creditor of the estate unless the trustee has obtained a written opinion of a solicitor who does not act for the secured creditor that the security is valid and enforceable as against the estate.
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