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A closed restaurant in Gananoque, Ontario. Commercial insolvency in Canada has options and procedures that are distinct from those available in consumer insolvency proceedings. It is governed by the following statutes: The Bankruptcy and Insolvency Act ("BIA") [1] The Companies' Creditors Arrangement Act ("CCAA") [2] The Winding-Up and ...
The Ontario Court of Appeal has ruled that, in the case of a "requirement to pay" under the Income Tax Act (Canada) that was issued after a notice of application to appoint a receiver (but before the court heard the application), supported by an ex parte "jeopardy order" issued by the Federal Court of Canada under s. 225.1(1) of that Act, [70 ...
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 Bankruptcy and Insolvency Act ("BIA") [1] The Companies' Creditors Arrangements Act ("CCAA") [2] The Farm Debt Mediation ...
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 ...
Corporations Canada is Canada's federal corporate regulator, operating under Innovation, Science and Economic Development Canada. It is responsible for administering laws regarding the incorporation of Canadian businesses as well as "corporate laws governing federal companies, except for financial intermediaries ."
Aeropostale Canada – subsidiary of the United States-based retailer Aeropostale, closed all 41 stores in Canada in 2016; A&A Records – founded in Toronto at the end of WWII, it was the dominant record chain store in Canada until being superseded by Sam the Record Man in the 1960s; it became defunct in 1993
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 .
Provisions similar to s. 210 of the UK Companies Act 1948 were first introduced into Canadian law through the 1975 passage of the Canada Business Corporations Act. [1] It incorporated recommendations made in 1962 by the UK Jenkins Committee on Company Law for removing the linkage of the remedy with that of winding-up and for broadening its scope. [2]
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