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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.
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 ...
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.
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 ...
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.
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 ...
under the Bankruptcy and Insolvency Act, where it is insolvent or has committed an act of bankruptcy, or; under the Winding-Up and Restructuring Act, where it is an insolvent financial institution or an insolvent corporation incorporated under provincial law (although the latter case is only rarely seen in recent times). [97]
National Parks Act, 1930; Natural Resources Acts, 1930; Unemployment and Farm Relief Act, 1931; Bank of Canada Act, 1934; Public Works Construction Act, 1934; Succession to the Throne Act, 1937