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Canadian Bankruptcy and Insolvency Act Reform--A Time for Input!(Brief Article)
May 2002 is the legislated date in Canada for reform of the Bankruptcy and Insolvency Act (BIA) and the Companies Creditors Arrangement Act (CCAA), the main federal Canadian insolvency statutes.
Prior to submission of reports to the Canadian Parliament in May 2002, discussion papers on commercial and consumer issues will be published seeking feedback from stakeholders. This will afford an excellent opportunity for credit and finance professionals to ensure that provisions important to the trade credit industry are considered and included in the new legislation.
The Corporate Law Policy Directorate of Industry Canada (Industry Canada) is spearheading the ...
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