Category Archives: Intermediate Investor
An insolvent company is a company which is not capable of paying all of its debts. Bankruptcy is a legally declared inability of an individual or an organization to repay its creditors. In Canada, the Bankruptcy and Insolvency
Voluntary Bankruptcy under BIA An insolvent company can voluntarily file for bankruptcy under the BIA along with the submission of a statement of all its assets and liabilities. All of the company’s unencumbered assets are then transferred
Distribution of Assets In liquidations under the BIA, the assets of an insolvent company are left in the hands of a trustee, who has the power to sell them with the permission of the board of inspectors of the estate.
Section 136 of the BIA establishes the following priorities for the distribution of money from the bankrupt company. All claims of a higher class are paid before any claims of the next class. Outlined below is the
While in a BIA reorganization procedure, an automatic stay of proceedings is imposed on secured and unsecured creditors, this stay does not apply to secured creditors who take possession of their collateral before the filing of bankruptcy
The BIA and CCAA rules are being modernized through a comprehensive insolvency reform package referred to as ‘Bill C-12’. The following section discusses some of the important changes proposed in the BIA and CCAA regulations.
Canada is blessed with an abundance of energy resources and is the world’s third largest producer of natural gas and the eighth largest producer of crude oil. Energy is an important sector of the Canadian economy and
Canada is the third largest producer of natural gas in the world only behind Russia and US with the current annual production of approximately 6.3 trillion cubic feet (Tcf). The most important source of natural gas products
According to the Coal Association of Canada, Canada holds close to 10 billion tones of coal reserves which contribute approximately $5 billion to the economy annually. At the end of 2005, the country had 24 operating coal mines;
Canada is currently ranked the world’s eight largest producer of crude oil. It is expected to reach to the fifth position by 2015 driven by an increased production from Alberta’s oil sands. According to Statistics Canada, Alberta