Reinventing Bankruptcy Law

Reinventing Bankruptcy Law
Author: Virginia Torrie
Publisher: University of Toronto Press
Total Pages: 317
Release: 2020
Genre: Business & Economics
ISBN: 1487506422

Reinventing Bankruptcy Law offers the first historical account of the CCAA, drawing on a broad array of historical sources including legislation, news sources, scholarly writing, archival materials, and more.

Selection of Candidates for Business Reorganization and Informational Efficiency of Canadian Bankruptcy and Insolvency Law Procedure

Selection of Candidates for Business Reorganization and Informational Efficiency of Canadian Bankruptcy and Insolvency Law Procedure
Author: Benoit Mario Papillon
Publisher:
Total Pages: 0
Release: 2011
Genre:
ISBN:

There are two laws in Canada allowing for the reorganization of corporate businesses: Bankruptcy and Insolvency Act (BLA) for SME and Company Creditors' Arrangement Act (CCAA) for larger firms. The number of corporations which have initiated a BIA reorganization procedure since the early 90's is twenty five to thirty times larger than the number for CCAA. The paper proposes an evaluation of the filtering properties of the BIA reorganization procedure since the 1992 amendments, based on the success rate at various steps of the procedure and on the effect of corporate financial data on this success rate. Among economic agents who determine how frequent and for which purposes BIA reorganization procedures are used, trustees play an important role, as they give access to the procedure. Results suggest the informational efficiency of the procedure could be improved and questions are raised in the conclusion regarding compatibility of trustees' incentives with an informational efficient procedure.

Canadian Business Bankruptcy

Canadian Business Bankruptcy
Author: Poonam Puri
Publisher:
Total Pages: 0
Release: 2013
Genre:
ISBN:

This chapter is intended to provide a concise and current summary of corporate bankruptcy and reorganization in Canada, under the Bankruptcy and Insolvency Act and the Companies' Creditors and Arrangements Act. Consumer bankruptcy and reorganization will be briefly touched on. This chapter is not intended to serve as a comprehensive discussion of Canadian bankruptcy law, rather as a brief overview.

Creditor Rights and the Public Interest

Creditor Rights and the Public Interest
Author: Janis Pearl Sarra
Publisher:
Total Pages: 352
Release: 2003
Genre: Law
ISBN: 9780802087546

Creditor Rights and the Public Interest supports the greater representation of non-traditional creditors in the process of insolvency restructuring in Canada, concentrating particularly on restructuring under the federal Companies' Creditors' Arrangement Act (CCAA). Arguing in favour of the representation of such non-traditional creditors as workers, consumers, trade suppliers, and local governments, Janis Sarra describes the existing process of addressing their interests, analyzes four case studies that focus on non-creditor groups, and compares the Canadian approach to that of several other countries, such as Germany, France, and the United States. Sarra draws on a comprehensive body of academic literature that covers a broad range of issues--insolvency theory, corporate governance theory, legislative history, and bankruptcy and insolvency practice. She further surveys the relevant legislation and supplements her analysis with insights drawn from extensive primary research of court records and personal interviews with lawyers, judges, and government officials. Creditor Rights and the Public Interest ultimately illustrates the way in which the concept of the public interest can be utilized to foreground the concerns of non-traditional stakeholders. Sarra provides a coherent account of the justification for recognizing these creditors by situating insolvency law in a legal regime that realizes a duty to maximize all of the interests and investments at stake in the corporation. In an academic field where scholarship is currently scarce, Sarra's text will be a welcome contribution.

Reinventing Bankruptcy Law

Reinventing Bankruptcy Law
Author: Virginia Torrie
Publisher: University of Toronto Press
Total Pages: 317
Release: 2020-05-26
Genre: History
ISBN: 1487534132

Reinventing Bankruptcy Law explodes conventional wisdom about the history of the Companies’ Creditors Arrangement Act and in its place offers the first historical account of Canada’s premier corporate restructuring statute. The book adopts a novel research approach that combines legal history, socio-legal theory, ideas from political science, and doctrinal legal analysis. Meticulously researched and multi-disciplinary, Reinventing Bankruptcy Law provides a comprehensive and concise history of CCAA law over the course of the twentieth century, framing developments within broader changes in Canadian institutions including federalism, judicial review, and statutory interpretation. Examining the influence of private parties and commercial practices on lawmaking, Virginia Torrie argues that CCAA law was shaped by the commercial needs of powerful creditors to restructure corporate borrowers, providing a compelling thesis about the dynamics of legal change in the context of corporate restructuring. Torrie exposes the errors in recent case law to devastating effect and argues that courts and the legislature have switched roles – leading to the conclusion that contemporary CCAA courts function like a modern day Court of Chancery. This book is essential reading for the Canadian insolvency community as well as those interested in Canadian institutions, legal history, and the dynamics of change.