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ISBN: 9781552214022

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Bankruptcy and Insolvency Law, 2/e

This book examines the legal framework that governs bankruptcy and insolvency law in Canada. It is organized in a way that illuminates the structure of insolvency law, its aims and objectives, and its foundational principles. This edition takes into account the recent caselaw on the extensive 2009 amendments to the federal insolvency statutes, and examines several new Supreme Court of Canada decisions. Additionally, new topics, such as the anti-deprivation principle in bankruptcy law and the use of arrangements by insolvent corporations, are introduced. The book will appeal to judges, seasoned insolvency lawyers, and insolvency professionals as well as to students and others new to the field.

The new edition of this book:

  • takes account of the numerous judicial decisions that have interpreted the 2009 amendments to the federal insolvency statutes;
  • discusses the major Supreme Court of Canada decisions on insolvency law rendered over the past five years, including Century Services Inc v Canada (Attorney General) (the exercise of judicial authority under the CCAA); Schreyer v Schreyer (matrimonial property law and bankruptcy);  Newfoundland and Labrador v AbitibiBowater Inc (environmental remediation claims); and Sun Indalex Finance, LLC v United Steelworkers (pension rights and fiduciary obligations); and
  • contains new sections on important topics including the anti-deprivation rule of bankruptcy law; roll-ups, stalking horse bids, credit bids and third party releases in restructuring proceedings; and the use of Canada Business Corporations Act arrangements by insolvent corporations.

Roderick J. Wood

Roderick J Wood is the FR (Dick) Matthews QC Professor of Business Law at the Faculty of Law, University of Alberta, Edmonton. He teaches and publishes in the areas of bankruptcy and insolvency law, personal property security law, and commercial law. He has co-authored books on secured transactions law in Canada and in New Zealand, and has written extensively in various law journals. He is the 2004 recipient of the Tevie H Miller Teaching Excellence Award for the Faculty of Law, a 2005 recipient of the AC Rutherford Award for Excellence in Undergraduate Teaching at the University of Alberta, and a 2006 recipient of a McCalla Professorship for his contribution to research in law at the University of Alberta. Professor Wood was appointed as the inaugural Estey Chair in Business Law at the College of Law, University of Saskatchewan, during the 2014–15 academic year.

Chapter Title Abstract Contributors Pages Year Price

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The new edition includes material on how the courts have interpreted statutory amendments from 2005 and 2007. 3 $0.30

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Review of insolvency concepts, including the sources and constitutional dimensions of insolvency law, and the various insolvency regimes in Canada. 25 $2.50

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Review of the history, objectives, and fundamental principles of bankruptcy law. 21 $2.10

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Description of how bankruptcy proceedings can be commenced, consolidated and terminated. 33 $3.30

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Analysis of the concept of property in bankruptcy law, including the bankrupt’s estate, non-divisible property, and post-bankruptcy property. 46 $4.60

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Consideration of the bankruptcy procedure used to determine the legitimacy of a third party’s claim to the bankrupt’s assets, and an examination of some of the proprietary claims … 36 $3.60

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Analysis of rules and principles designed to preserve the bankrupt estate so that its full value can be realized: stay of proceedings, executory contracts, abandonment of environmentally damaged … 23 $2.30

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Analysis of the trustee’s powers to impeach pre-bankruptcy transactions. 48 $4.80

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Review of the roles of the creditors, the trustee, the official receiver, the bankrupt, the bankruptcy court, and the Superintendent of Bankruptcy in the bankruptcy process. 24 $2.40

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Assessment of who is eligible to participate in the proceeds of the bankruptcy estate and how the funds will be distributed among the participating claimants. 35 $3.50

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Analysis of various concepts associated with bankruptcy discharge, including policy and procedure, the court’s power to grant or refuse, legal consequences, revival of released claims, … 35 $3.50

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Review of the history, objectives and fundamental principles of commercial arrangements between debtors and creditors intended to operate as an alternative to bankruptcy. 22 $2.20

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Description of restructuring proceedings, including who is eligible, consolidation, commencement, stays, and termination. 29 $2.90

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Review of the devices used to address the difficulties encountered in the operation of a business after restructuring proceedings are commenced. 35 $3.50

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Review of governance rules to establish a legal framework within which decisions are made to allow the debtor to manage the business while restructuring proceedings are ongoing. 23 $2.30

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Review of the restructuring claims process, priority status of claims, and impeachable transactions. 22 $2.20

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Description of the process involved in creating a restructuring plan for approval by the creditors and the court. 34 $3.40

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Review of the history, objectives, and fundamental principles of receivership law. 18 $1.80

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Discussion of the rules and principles governing the commencement, administration and supervision of receivership proceedings. 24 $2.40

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Analysis of the status, powers, duties and liabilities of a receiver, whether appointed privately or by a court. 18 $1.80

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Analysis of the Farm Debt Mediation Act plus the consumer proposal provisions and orderly payment of debt provisions of the Bankruptcy and Insolvency Act. 19 $1.90

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Analysis of the Winding-up and Restructuring Act, the special insolvency regime governing railway companies, and the arrangement provisions of the Canada Business Corporations Act. 16 $1.60

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Analysis of principles in insolvency proceedings with a foreign element, such as the debtor or assets being located in a foreign country, or some or all of the creditors being foreigners. 23 $2.30