Canadian Bankruptcy and Insolvency Law - Bill C-55, Statute c.47 and Beyond

Click here for the student edition of Canadian Bankruptcy and Insolvency Law - Bill C-55, Statute c.47 and Beyond.

How Will Reforms Change the Law?

Canadian bankruptcy law faces a unique situation. Statute c.47 was enacted in late 2005 but has not yet come into force. The "2007 Amending Bill" now calls for substantial amendments to the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act, and Statute c.47.

What exactly do these proposed reforms mean? What influence can parliamentarians, practitioners, and academics exert during this "window period" to change Canadian bankruptcy and insolvency legislation?

Canadian Bankruptcy and Insolvency Law: Bill C-55, Statute c.47 and Beyondtackles these issues from a wide range of perspectives. Respected professors Stephanie Ben-Ishai and Anthony Duggan analyze the proposed reforms and related political concerns, together with:

David Baird
Tamara Buckwold
Ronald Davis
Alexandra Dostal
Steven Golick
John A. E. Pottow
Michael Rotsztain
Janis Sarra
Edward Sellars
Thomas Telfer
Roderick Wood
Jacob Ziegel

Thought-Provoking Questions to Encourage Dialogue

Each of the book's 15 chapters addresses a critical aspect of Canadian bankruptcy and reorganization law. Questions will spark debate on how current law and policy compare with developments in other countries, and whether existing proposals for reform actually meet Canada's economic needs.

• To what extent can - or should - Canadian legislation be influenced by U.S. legislation?
• Could harmonization with U.S. legislation inhibit economic development in Canada?
• Do other common law jurisdictions provide better models for reform?
• What would a distinctly "made in Canada" approach look like?
• Does Canada need both the BIA and CCAA?
• Where is greater consistency needed in the treatment of issues that are common to BIA and CCAA proceedings?
• When can judicial discretion lead to inconsistent solutions to problems across the country?

An Insightful Collection For:

• Bankruptcy and insolvency lawyers, corporate/commercial lawyers, and accountants who need a good grasp of the underlying policy issues in order to understand the law
• Provincial and Federal Governments, including Ministries of the Attorney General and Business & Consumer Affairs, who need to understand how federal legislation interacts with provincial law in areas such as fraudulent preferences and conveyances, and property exemptions
• Union leaders who want to learn more about the provisions of Statute c.47 that relate to workers' rights, including the Wage Earner Protection Program, collective agreements, and the priority for unpaid wages and pension contributions
• Academics and practitioners who take an active role in the review and reform of Canada's insolvency legislation
• Bankruptcy trustees who need to understand proposed reforms relating to discharge from bankruptcy, means testing and other matters