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Commercial Insolvency in Canada, 2nd Edition
McElcheran, K. P.
Publisher: LexisNexis Canada
Format: Hardcover Book , Book
Choose the Best Legal Option
This second edition continues the practical approach of the first edition and proceeds from the basic premise that all persons interested or affected by commercial insolvency are entitled to be treated with respect in the insolvency process and are entitled to participate in the process to effectively pursue their legitimate interests.
- From the Preface
On September 18, 2009, major changes came into effect overhauling the Companies' Creditors Arrangement Act (CCAA) and the Bankruptcy and Insolvency Act (BIA). Leading insolvency lawyer Kevin McElcheran considers Canada's insolvency laws as a whole, to assist in the advancement of often competing, but occasionally aligned interests of debtors, creditors, and other critical stakeholders in cases of all types and sizes.
U.S. practitioners will also find this resource particularly useful. Knowledge of Canadian insolvency law is essential for U.S. based participants in Canada/U.S. cross-border cases.
What's New In This Edition?
· Integrated analysis of the amendments to the BIA and CCAA and how they will affect all aspects of commercial insolvency law
· Explanation of the distinction between amendments that codify prior practice and amendments that will change the practice going forward
· Discussion of important recent court decisions that are reshaping Canadian restructuring principles, including Nortel and Century Services v. Canada
· Discussion of important cases that have applied the amended legislation, including Canwest rulings on sales of assets (new CCAA s. 36) and interim financing (new CCAA s.11.2)
· New chapter on the recognition of international insolvency proceedings and cross-border filings, under Canada's version of the UNCITRAL model law for international insolvency
· Footnotes directing you to online forms of orders and other documents used in insolvency proceedings
A Pragmatic Approach to Solving Legal Issues for:
· Corporate lawyers who advise any business or creditor facing the business and legal challenges caused by insolvency
· Lenders to Canadian businesses and cross-border enterprises
· Insolvency and restructuring professionals and turnaround practitioners looking for the right legal tools to implement a corporate rescue
· U.S. lawyers and turnaround professionals involved in cross-border insolvency cases
· Distressed debt investors who need to formulate effective strategies to maximize returns on their investments
Table of Contents
Chapter 1: Introduction - Insolvency is a Business Problem
Chapter 2: Rights and Remedies of Unsecured Creditors
Chapter 3: Rights and Remedies of Secured Creditors
Chapter 4: Commercial Reorganization
Chapter 5: The Role of Directors and Officers in the Restructuring Process
Chapter 6: Cross-Border Insolvencies