One more province has joined the ranks of extending creditor protection to registered savings plans. Alberta’s Civil Enforcement Amendment Act came into force on October 1, 2009 (the “Act”). It applies to registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs), deferred profit sharing plans (DPSPs) and registered disability savings plans (RDSPs).
Fair Treatment
Canada, Alberta, Employee Benefits & Pensions, Insolvency & Restructuring, Miller Thomson LLP, Tax exemption, Bankruptcy, Debtor, Beneficiary, Retirement, Life insurance, Investment funds, Disability, Bankruptcy and Insolvency Act 1985 (Canada)
In a recent decision issued by Lord Drummond Young, one of the Scottish insolvency judges in the Court of Session, useful guidance has been issued which will be of interest to practitioners having to deal with the, not uncommon, situation of a retiring practitioner and replacement with a current partner in the same firm.
United Kingdom, Insolvency & Restructuring, Litigation, Shepherd and Wedderburn LLP, Dividends, Advertising, Interest, Retirement, Adoption, Liquidation, Common law, Liquidator (law), Prejudice, Court of Session