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The Bankruptcy and Insolvency Act (BIA; French: Loi sur la faillite et l'insolvabilité) is one of the statutes that regulates the law on bankruptcy and insolvency in Canada. It governs bankruptcies, consumer and commercial proposals, and receiverships in Canada.
Pages in category "Companies that have filed for bankruptcy in Canada" The following 107 pages are in this category, out of 107 total. This list may not reflect recent changes .
Consumer bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act ("BIA"). [1] The legislation is complemented by regulations, as well as directives from the Office of the Superintendent of Bankruptcy that provide guidelines to trustees in bankruptcy on various aspects of the BIA.
The Bankruptcy and Insolvency Act ("BIA") [1] The Companies' Creditors Arrangement Act ("CCAA") [2] The Winding-Up and Restructuring Act [3] The following discussion concentrates on insolvency as it applies to corporations, but the rules apply to individuals and other entities involved in commercial matters as well, with necessary modifications.
The Parliament of Canada has exclusive jurisdiction to regulate matters relating to bankruptcy and insolvency, by virtue of Section 91(2) of the Constitution Act, 1867.It has passed the following statutes as a result:
The company was established in 1909 with the opening of a shop in Toronto. [1] It filed for bankruptcy protection under the Bankruptcy and Insolvency Act in March 2000. [1] [2] President Gerry Ruby stated that the company was losing sales to big box retailers Chapters and Indigo Books and Music, and internet retailers such as Amazon. [1] [2]
In that case, the Court gave a detailed explanation of the nature of insolvency law in Canada. The Bankruptcy and Insolvency Act (BIA) provides a more rules-based approach for resolving a corporate debtor's insolvency, which must be observed strictly. The CCAA, on the other hand, provides a more discretionary approach that is remedial in nature ...
Associate judges also adjudicate construction lien trials, mortgage and general references, provide dispute resolution services, and serve as registrars in bankruptcy under the Bankruptcy and Insolvency Act. [12] Orders made by associate judges have the same force and effect as judges' orders although they may be appealed to a judge.