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Commercial Insolvency In Canada
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") :* The ''Companies' Creditors Arrangement Act'' ("CCAA") :* The ''Winding-Up and Restructuring Act'' The following discussion concentrates on insolvency as it applies to corporations, but the rules apply to individuals and other entities involved in commercial matters as well, with necessary modifications. Financial difficulties prior to insolvency Provincial legislation under the property and civil rights power of the Constitution Act, 1867 regulates the resolution of financial difficulties that occur before the onset of insolvency, and the BIA incorporates many of them by reference in the application of its provisions. Notable legislation is in effect for governing: :* absconding debtors :* fraudulent conveyances :* relief of creditors :* seizure of asset ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louisiana State University Law Center
The Paul M. Hebert Law Center, often styled "LSU Law", is a public law school in Baton Rouge, Louisiana. It is part of the Louisiana State University System and located on the main campus of Louisiana State University. Because Louisiana is a civil law state, unlike its 49 common law sister states, the curriculum includes both civil law and common law courses, requiring 94 hours for graduation; the most in the United States. In the Fall of 2002, the LSU Law Center became the sole United States law school, and only one of two law schools in the Western Hemisphere, offering a course of study leading to the simultaneous conferring of a J.D. (Juris Doctor), which is the normal first degree in American law schools, and a D.C.L. ( Diploma in Comparative Law), which recognizes the training its students receive in both the common and the civil law. Until voting in April 2015 to realign itself as an academic unit of Louisiana State University, the Paul M. Hebert Law Center was an autonomo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Court (Canada)
The Federal Court (french: Cour fédérale) is a Canadian trial court that hears cases arising under certain areas of federal law. The Federal Court is a superior court with nationwide jurisdiction. History The Court was created on July 2, 2003 by the Courts Administration Service Act' when it and the Federal Court of Appeal were split from their predecessor, the Federal Court of Canada (which had been created June 1, 1971, through the enactment of the ''Federal Court Act'', subsequently renamed the ''Federal Courts Act''. The Court's authority comes from the ''Federal Courts Act''. On October 24, 2008, the Federal Court was given its own armorial bearings by the Governor General, the third court in Canada to be given its own Coat of Arms – after the Court Martial Appeal Court of Canada and Ontario Superior Court of Justice. The coat of arms features a newly created fantastical creature, the winged sea caribou, as the supporters, representing the provision of justice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ex Parte
In law, ''ex parte'' () is a Latin term meaning literally "from/out of the party/faction of" (name of party/faction, often omitted), thus signifying "on behalf of (name)". An ''ex parte'' decision is one decided by a judge without requiring all of the parties to the dispute to be present. In English law and its derivatives, namely Australian, New Zealand, Canadian, South African, Indian, and U.S. legal doctrines, ''ex parte'' means a legal proceeding brought by one party in the absence of and without representation of or notification to the other party. The term is also used more loosely to refer to improper unilateral contacts with a court, arbitrator, or represented party without notice to the other party or counsel for that party. The phrase was common in the titles of ''habeas corpus'' and judicial review cases until the end of the twentieth century, because those cases were originally brought by the Crown on behalf of the claimant. In Commonwealth common law jurisdict ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ontario Court Of Appeal
The Court of Appeal for Ontario (frequently referred to as the Ontario Court of Appeal or ONCA) is the appellate court for the province of Ontario, Canada. The seat of the court is Osgoode Hall in downtown Toronto, also the seat of the Law Society of Ontario and the Divisional Court of the Ontario Superior Court of Justice. Description The Court is composed of 22 judicial seats, in addition to one or more justices who sit supernumerary. They hear over 1,500 appeals each year, on issues of private law, constitutional law, criminal law, administrative law and other matters. The Supreme Court of Canada hears appeals from less than 3% of the decisions of the Court of Appeal for Ontario, therefore in a practical sense, the Court of Appeal is the last avenue of appeal for most litigants in Ontario. Among the Court of Appeal's most notable decisions was the 2003 ruling in ''Halpern v Canada (AG)'' that found defining marriage as between one man and one woman to violate Section 15 of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-deprivation Rule
The anti-deprivation rule (also known as fraud upon the bankruptcy law) is a principle applied by the courts in common law jurisdictions (other than the United States) in which, according to Mellish LJ in ''Re Jeavons, ex parte Mackay'', "a person cannot make it a part of his contract that, in the event of bankruptcy, he is then to get some additional advantage which prevents the property being distributed under the bankruptcy laws." Wood VC had earlier observed that "the law is too clearly settled to admit of a shadow of doubt that no person possessed of property can reserve that property to himself until he shall become bankrupt, and then provide that, in the event of his becoming bankrupt, it shall pass to another and not to his creditors." General scheme It arises from the general principle (known as the "rule against repugnancy" in property law) that a grantor may not derogate from his own grant by giving an absolute interest in an asset and then providing for it to be clawe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Admiralty Law
Admiralty law or maritime law is a body of law that governs nautical issues and private maritime disputes. Admiralty law consists of both domestic law on maritime activities, and private international law governing the relationships between private parties operating or using ocean-going ships. While each legal jurisdiction usually has its own legislation governing maritime matters, the international nature of the topic and the need for uniformity has, since 1900, led to considerable international maritime law developments, including numerous multilateral treaties. Admiralty law may be distinguished from the law of the sea, which is a body of public international law dealing with navigational rights, mineral rights, jurisdiction over coastal waters, and the maritime relationships between nations. The United Nations Convention on the Law of the Sea has been adopted by 167 countries and the European Union, and disputes are resolved at the ITLOS tribunal in Hamburg. History Seabor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Montreal V
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Canada
The Supreme Court of Canada (SCC; french: Cour suprême du Canada, CSC) is the Supreme court, highest court in the Court system of Canada, judicial system of Canada. It comprises List of Justices of the Supreme Court of Canada, nine justices, whose decisions are the ultimate application of Canadian law, and grants permission to between 40 and 75 litigants each year to appeal decisions rendered by provincial, territorial and federal Appeal, appellate courts. The Supreme Court is bijural, hearing cases from two major legal traditions (common law and Civil law (legal system), civil law) and bilingual, hearing cases in both Official bilingualism in Canada, official languages of Canada (English language, English and French language, French). The effects of any judicial decision on the common law, on the interpretation of statutes, or on any other application of law, can, in effect, be nullified by legislation, unless the particular decision of the court in question involves applicatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Bank Act
The ''Bank Act'' (1991, c. 46) (the ''Act'') is an act of the Parliament of Canada respecting banks and banking. History The ''Bank Act'' was originally passed in 1871. The terms of the ''Act'' provide for a statutory review of the ''Act'' on a regular basis to ensure that legislators update the ''Act'' in order that it keep pace with developments in the financial system. Historically, this was done on a decennial basis. In 1992, this requirement was changed to every five years. The ''Act'' contains a "sunset" clause providing that it and the bank charters provided by it will expire unless the statutory review is conducted every five years. In 2016 the Federal Government proposed a 2 year extension to the review deadline. The most recent statutory review of the ''Act'' took place in 2019 with the next review scheduled for 2023. Credit unions In 2010, the Parliament of Canada passed amendments to the ''Act'' to allow federal credit unions to exist as a new class of financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McMillan LLP
McMillan LLP is a Canadian business law firm serving public, private and not-for-profit clients across various industries in North America and around the world. McMillan LLP is the only national Canadian law firm with an office in Hong Kong, in addition to its offices across Canada in Vancouver, Calgary, Toronto, Ottawa and Montréal''.'' The firm has industry groups in different sectors such as technology, energy, oil and gas, mining, construction and infrastructure, automotive, and transportation. Founding Firms and Mergers The firm was founded by Newton Rowell in 1903. At this time, it consisted of three lawyers and was called Rowell, Reid and Wood. By 1910, the firm more than doubled to seven lawyers, a size it kept until the mid-twenties. Gordon McMillan joined the firm in 1921 and practiced for over half of a century, bringing notable clients such as Monarch and BorgWarner. In 1926, Rhodes Scholar Roland Michener and Osgoode Hall graduate Daniel Lang formed Lang Mich ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Property Security Act (Canada)
The ''Personal Property Security Act'' ("PPSA") is the name given to each of the statutes passed by all common law provinces, as well as the territories, of Canada that regulate the creation and registration of security interests in all personal property within their respective jurisdictions. It is similar in structure to Article 9 of the Uniform Commercial Code in the United States, but there are important differences.Bruce MacDougall, Fixtures and the PPSA: Of the Wooden Horse of Troy, Creditors in the Weeds and Statutory Ambush, 1993 72-4 Canadian Bar Review 496, 1993 CanLIIDocs 149, , retrieved on 2021-01-30John J Chapman, Mistake, Sharp Practice, Equity and the PPSA, 1999 78-1&2 Canadian Bar Review 71, 1999 CanLIIDocs 91, , retrieved on 2021-01-30Alberta Law Reform Institute, Personal Property Security Law, Alberta Law Reform Institute, 2020 CanLIIDocs 3241, , retrieved on 2021-01-30Michael G Bridge et al, Formalism, Functionalism, and Understanding the Law of Secured Transacti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
