|
Companies' Creditors Arrangements Act
The ''Companies' Creditors Arrangement Act'' (CCAA; ) is a statute of the Parliament of Canada that allows insolvent corporations owing their creditors in excess of $5 million to restructure their businesses and financial affairs. The CCAA within the Canadian insolvency regime In 1990, the British Columbia Court of Appeal discussed the background behind the introduction of the CCAA in one of its rulings: The Supreme Court of Canada did not have a chance to explain the nature of the CCAA until the groundbreaking case of '' Century Services Inc. v. Canada (Attorney General)'' in 2010. In that case, the Court gave a detailed explanation of the nature of insolvency law in Canada. The ''Bankruptcy and Insolvency Act'' (BIA) provides a more rules-based approach for resolving a corporate debtor's insolvency, which must be observed strictly. The CCAA, on the other hand, provides a more discretionary approach that is remedial in nature, which therefore must be broadly construed. Alt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Canada
The Parliament of Canada () is the Canadian federalism, federal legislature of Canada. The Monarchy of Canada, Crown, along with two chambers: the Senate of Canada, Senate and the House of Commons of Canada, House of Commons, form the Bicameralism, bicameral legislature. The 343 members of the lower house, the House of Commons, are styled as Member of Parliament (Canada), ''Members of Parliament'' (MPs), and each elected to represent an Electoral district (Canada), electoral district (also known as a riding). The 105 members of the upper house, the Senate, are styled ''senators'' and appointed by the Governor General of Canada, governor general on the advice of the Prime Minister of Canada, prime minister. Collectively, MPs and senators are known as ''parliamentarians''. Bills may originate in either the House of Commons or the Senate, however, bills involving raising or spending funds must originate in the House of Commons. By Constitutional convention (political custom), cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Borden Ladner Gervais
Borden Ladner Gervais LLP (abbreviated as BLG) is a leading, full-service law firm in Canada with almost 900 lawyers, intellectual property agents and other professionals. With two hundred years of history going back to the 1823 founding of McMaster Gervais, it has offices in Toronto, Montréal, Vancouver, Ottawa, and Calgary. BLG is governed by a partnership board composed of partners from across Canada. Sean Weir served as the firm's first National Managing Partner until 2018, and was succeeded in the position by John Murphy of the Montréal office. BLG was ranked in 16 practice areas in the 2024 edition of ''Chambers Global'', and is known for its practices in disputes, corporate/M&A, international trade, energy, environment, labour and employment, healthcare, shipping, infrastructure and construction, and procurement law. BLG was named a leading law firm in The Canadian Legal Lexpert® Directory, with 238 lawyers recognized as leaders. Former justices of Canada's Supreme Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset-backed Commercial Paper
Asset-backed commercial paper (ABCP) is a form of commercial paper that is collateralized by other financial assets. Institutional investors usually purchase such instruments in order to diversify their assets and generate short-term gains. Structure ABCP is typically a short-term instrument that matures between 1 and 270 days (average of 30 days) from issuance and is issued by an Asset-backed commercial paper program, such as a Conduit or Structured investment vehicle (SIV). Covitz, Daniel, Nellie Liang and Gustavo Suarez (2009). The conduit is referred to as a structured investment vehicle. The evolution of a financial crisis: Panic in the asset-backed commercial paper market. Division of Research & Statistics and Monetary Affairs, Federal Reserve Board. A conduit is set up by a sponsoring financial institution. The sole purpose of a conduit is to purchase and hold financial assets from a variety of asset sellers. The conduit finances the assets by selling asset-backed commer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraser Milner Casgrain
''As of March 28, 2013, Fraser Milner Casgrain combined with Salans and SNR Denton to form Dentons.'' Fraser Milner Casgrain LLP (FMC) was a Canadian business, litigation, and a tax law firm. With more than 560 lawyers (175 litigators), it was the sixth largest law firm in Canada as well as the largest law firm in Western Canada. Until 1984, FMC was a fully integrated national partnership with offices in Montreal, Ottawa, Toronto, Edmonton, Calgary, and Vancouver. In 1985, Fraser Milner Casgrain (then known as Fraser and Beatty) underwent a major administration change. Terrence Young was appointed as chief executive officer, and he initiated FMC's expansion into Hong Kong, making FMC a multi-national law firm. Young was CEO for 13 years, until the 1998 merger between Fraser and Beatty and Alberta Alberta is a Provinces and territories of Canada, province in Canada. It is a part of Western Canada and is one of the three Canadian Prairies, prairie provinces. Alberta is borde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newfoundland And Labrador V
Newfoundland and Labrador is the easternmost provinces and territories of Canada, province of Canada, in the country's Atlantic Canada, Atlantic region. The province comprises the island of Newfoundland (island), Newfoundland and the continental region of Labrador, having a total size of . As of 2025 the population of Newfoundland and Labrador was estimated to be 545,579. The island of Newfoundland (and its smaller neighbouring islands) is home to around 94 per cent of the province's population, with more than half residing in the Avalon Peninsula. Labrador has a land border with both the province of Quebec, as well as a short border with the territory of Nunavut on Killiniq Island. The French overseas collectivity of Saint Pierre and Miquelon lies about west of the Burin Peninsula. According to the 2016 census, 97.0% of residents reported English as their native language, making Newfoundland and Labrador Canada's most linguistically Homogeneity and heterogeneity, homogeneous ... [...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. With offices in Canada's major centres – Vancouver, Calgary, Toronto, Ottawa and Montréal''.'' McMillan provides exceptional industry insights in transportation, technology, infrastructure and construction, and natural resources and energy. Whether it's a cross-border transaction, a complicated private equity deal, complex real estate financing, or a bet-the-company lawsuit or regulatory dispute, McMillan has the expertise leaders need to grow and succeed in the Canadian market or internationally. Founding Firms 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 had more than doubled in size to seven lawyers, which it maintained until the mid-twenties. Gordon McMillan joined the firm in 1921 and practiced for over half of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bona Fide
In human interactions, good faith () is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction. Some Latin phrases have lost their literal meaning over centuries, but that is not the case with , which is still widely used and interchangeable with its generally accepted modern-day English translation of ''good faith''. It is an important concept within law and business. The opposed concepts are bad faith, (duplicity) and perfidy (pretense). is a Latin phrase meaning "good faith". Its ablative case is , meaning "in good faith", which is often used in English as an adjective to mean "genuine". While may be translated as "faith", it embraces a range of meanings within a core concept of "reliability", in the sense of a trust between two parties for the potentiality of a relationship. For the ancient Romans, ''bona fides'' was to be assumed by both sides, with implied responsibilities and both legal and religious consequences if broken ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ab Initio
( ) is a Latin term meaning "from the beginning" and is derived from the Latin ("from") + , ablative singular of ("beginning"). Etymology , from Latin, literally "from the beginning", from ablative case of "entrance", "beginning", related to verb "to go into", "enter upon", "begin". Uses ''Ab initio'' (abbreviation: ''ab init.'') is used in several contexts, including the following: Law In law, ''ab initio'' refers to something being the case from the start or from the instant of the act rather than from when the court declared it so. For instance, the term "void ''ab initio''" means "to be treated as invalid from the outset." E.g., in many jurisdictions, if a person signs a contract under duress, that contract is treated as being "void ''ab initio''". Typically, documents or acts which are void ''ab initio'' cannot be fixed and if a jurisdiction, a document, or an act is so declared at law to be void ''ab initio'', the parties are returned to their respective positions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blake, Cassels & Graydon
Blake, Cassels & Graydon LLP (Blakes) is an international corporate law firm with offices in Montreal, Ottawa, Toronto, Calgary, Vancouver, New York City, and London. History Blakes was launched in 1856 after Dominick Edward Blake was called to the bar and entered into partnership with Stephen M. Jarvis in Toronto. Soon it was Blake & Blake when brother Samuel Hume Blake joined. In 1867, Blakes incorporated what would become Canadian Imperial Bank of Commerce. The bank remains one of the firm's oldest clients. In 1878, Blakes was the first business in Canada to install a telephone system that provided a direct link to the offices of the Ontario Court of Appeal and the Supreme Court of Canada at Osgoode Hall. In 1882, Zebulon Aiton Lash joined Blakes and began building a corporate law practice.Christopher Moore. The Law Society of Upper Canada and Ontario's Lawyers, 1797-1997'. University of Toronto Press; 1997. . p. 153–. By 1885, with 15 lawyers, Blakes was among the la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pre-packaged Insolvency
Pre-packaged insolvency (a "pre-pack") is a kind of bankruptcy procedure, where a restructuring plan is agreed upon in advance of a company declaring its insolvency. In the United States pre-packs are often used in a Chapter 11 filing. In the United Kingdom, pre-packs have become popular since the Enterprise Act 2002, which has made administration the dominant insolvency procedure. Such arrangements are also available in Canada under the ''Companies' Creditors Arrangement Act''. United Kingdom The term "pre-pack sale" has been defined by the Association of Business Recovery Professionals as "an arrangement under which the sale of all or part of a company’s business or assets is negotiated with a purchaser prior to the appointment of an administrator, and the administrator effects the sale immediately on, or shortly after, his appointment".http://www.r3.org.uk/media/documents/technical_library/SIPS/SIP%2016%20E&W.pdf The difference between a pre-pack sale and a normal sale is th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unsecured Creditor
An unsecured creditor is a creditor other than a preferential creditor that does not have the benefit of any security interests in the assets of the debtor. In the event of the bankruptcy of the debtor, the unsecured creditors usually obtain a ''pari passu'' distribution out of the assets of the insolvent company on a liquidation in accordance with the size of their debt after the secured creditors have enforced their security and the preferential creditors have exhausted their claims. Although in a liquidation Liquidation is the process in accounting by which a Company (law), company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as :wikt:wind up#Noun, w ... the unsecured creditors will usually realize the smallest proportion of their claims, in some legal systems, unsecured creditors who are also indebted to the insolvent debtor can (and in some jurisdictions, must) set off t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secured Creditor
A secured creditor is a creditor with the benefit of a security interest over some or all of the assets of the debtor. In the event of the bankruptcy of the debtor, the secured creditor can enforce security against the assets of the debtor and avoid competing for a distribution on liquidation with the unsecured creditors. In most legal systems, secured creditors also have the option of releasing their security and proving in the liquidation Liquidation is the process in accounting by which a Company (law), company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as :wikt:wind up#Noun, w ..., although, in practice, they would rarely do so. See also * Preferential creditor References {{finance-stub Credit Bankruptcy Insolvency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
