On September 18, 2009, a number of amendments to Canada's Bankruptcy and Insolvency Act (BIA) and Companies Creditors Arrangement Act (CCAA) came into force. The amendments were passed in 2005 and 2007 but, aside from a few provisions that became effective in July 2008, the amendments sat dormant, awaiting proclamation into force. Pursuant to Order in Council P.C. 2009-1207, almost all of these amendments have now been brought into force. Some of these provisions will be of interest to participants in the securitization market.
Filed under:
Canada, Insolvency & Restructuring, Securitization & Structured Finance, Stikeman Elliott LLP, Debtor, Security (finance), Interest, Over-the-counter (finance), Personal property, Contract for difference, Ontario Securities Commission, Bank of Canada, Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada
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