Canadian Bankruptcy and Insolvency Law for Commercial Tenancies

Introducing Canadian Bankruptcy and Insolvency Law for Commercial Tenancies, the first and only book focused exclusively on commercial landlord and tenant law in the context of insolvency proceedings. Written by award-winning bankruptcy and insolvency practitioner, David Bish, this volume offers a comprehensive overview of the legal regime in which these matters play out and features invaluable practical advice and observations from his years of practice. In addition to exploring the need for harmonization between bankruptcy and insolvency statutes, this book examines the jurisdiction and judicial discretion of the courts in making decisions in insolvency matters as well as the constitutional conflicts and privity of estates and of contract issues that can arise when the worlds of bankruptcy and insolvency law and commercial leasing collide.

Featuring valuable content
Canadian Bankruptcy and Insolvency Law for Commercial Tenancies offers specialized, practical information focusing on the key issues that are relevant in a bankruptcy and insolvency scenario involving a commercial landlord and tenant. Bish clearly and cogently analyzes the inherent legal tensions that arise when insolvency law and commercial leasing intersect, giving readers unprecedented insight into this intricate area of the law.

After providing a practical overview of the steps involved in commencing insolvency proceedings – complete with a description of model court orders and comeback clauses – the author delves into the statutory and common law as they relate to issues of particular importance to landlords and tenants when commencing proceedings, including:

• Stays of proceedings
• Rights of occupation and the obligation to pay occupation rent
• Restrictions on interference with, and positive obligations to cooperate with, the debtor/court officer
• The paradigm put in place for the disclaimer, resiliation, repudiation and termination of contracts
• The treatment of fixtures
• Statutory and court-ordered priority charges that may affect landlords

He also provides helpful examinations of a wide range of topics, such as:

• The extent to which insolvent tenants can deviate from lease contracts to the detriment of landlords
• Inventory liquidation sales and the use of agents
• Standard provisions that appear in sale guidelines outlining how a liquidation shall be conducted
• The terms that are included in orders approving liquidations, including examples from liquidations of well-known companies
• The circumstances which trigger the landlord's duty to mitigate, and the calculation of a landlord's claim at common law, in bankruptcy, in Bankruptcy and Insolvency Act proposal proceedings, in Companies' Creditors Arrangement Act proceedings and in receiverships
• The basics of classification of creditors and voting in bankruptcy and insolvency proceedings
• Dealing with the uncommon scenario of a commercial landlord's insolvency and its impact on the tenant

Canadian Bankruptcy and Insolvency Law for Commercial Tenancies contains useful tables and charts, including a summary of the substantive issues dealt with in model orders across Canada and a summary of the provincial statutes governing the assignment of commercial leases by trustees in bankruptcy.

Accessible, essential reading
Because it is written in plain, easy-to-understand English – as opposed to legal jargon – Canadian Bankruptcy and Insolvency Law for Commercial Tenancies would be a useful addition to the library of legal and non-legal professionals alike, as well as anyone who requires an overview of the intersection of bankruptcy and insolvency law and commercial leasing in Canada. In particular, this book should be required reading for:

• Corporate/commercial lawyers and bankruptcy and insolvency lawyers who must advise businesses that have commercial leases and are facing bankruptcy and insolvency issues
• In-house counsel at companies that are in commercial leases (as either tenant or landlord) and are facing bankruptcy and insolvency issues, or at companies that are creditors affected by the bankruptcy or insolvency of a debtor that is in a commercial lease
• Lenders, distressed debt investors, and insolvency, restructuring and turnaround professionals that are looking for a reliable informational resource to guide them in their daily work and assist with particular issues
• Law libraries that want to offer a full collection of research resources to their patrons