Restructuring and insolvency in Canada

3 minute read
30 April 2018

This guide was originally published in Thomson Reuters, Practical Law, and has been republished with permission.

A Q&A guide to restructuring and insolvency law in Canada

The Q&A gives a high level overview of the most common forms of security granted over immovable and movable property; creditors' and shareholders' ranking on a company's insolvency; mechanisms to secure unpaid debts; mandatory set-off of mutual debts on insolvency; state support for distressed businesses; rescue and insolvency procedures; stakeholders' roles; liability for an insolvent company's debts; setting aside an insolvent company's pre-insolvency transactions; carrying on business during insolvency; additional finance; multinational cases; and proposals for reform.

To compare answers across multiple jurisdictions, visit the Restructuring and insolvency Country Q&A tool.

This Q&A is part of the global guide to restructuring and insolvency law. Read the full list of list of jurisdictional Q&As.

In this guide:

*The authors gratefully acknowledge the contribution of Thomas Gertner and Evan Stitt, both associate lawyers practising in the area of financial services and corporate law with Gowling WLG (Canada) LLP in Toronto, for their assistance with editing and updating this article.

Online resources

Justice Laws

Description. Official versions of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangements Act can be found on this website, which is maintained by the Government of Canada.

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