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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, [60 ...
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 ...
The Bankruptcy Act of 1919 [42] 1 July 1920 subject reassumed by the Parliament of Canada; covered all individuals, companies and other entities; voluntary and involuntary bankruptcy allowed; 1923 The Bankruptcy Act Amendment Act, 1923 [43] trustee to be selected by the estate's creditors (they were previously appointed by the government)
Before you can file for Chapter 7 or Chapter 13 bankruptcy, you are required to attend credit counseling. Your credit counselor will go over your options. Your credit counselor will go over your ...
File a petition with the bankruptcy court. First, you’ll file a petition with the bankruptcy court that’s in your district. The district is based on your business’s address.
Pages in category "Companies that have filed for bankruptcy in Canada" The following 113 pages are in this category, out of 113 total. This list may not reflect recent changes .
Under s. 2 of the BIA, an "insolvent person" is a person who is not bankrupt and who resides, carries on business, or has property in Canada, whose liabilities to creditors provable as claims under this Act amount to $1,000, and (a) who is for any reason unable to meet his obligations as they generally become due,
A Chapter 7 bankruptcy is known as liquidation bankruptcy. When you file this type of bankruptcy, you are typically required to: Sell assets to repay your debts.