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Commercial Insolvency In Canada
Commercial insolvency in Canada has options and procedures that are distinct from those available in consumer insolvency proceedings. It is governed by the following statutes: :* The ''Bankruptcy and Insolvency Act'' ("BIA") :* The ''Companies' Creditors Arrangement Act'' ("CCAA") :* The ''Winding-Up and Restructuring Act'' The following discussion concentrates on insolvency as it applies to corporations, but the rules apply to individuals and other entities involved in commercial matters as well, with necessary modifications. Financial difficulties prior to insolvency Provincial legislation under the property and civil rights power of the Constitution Act, 1867 regulates the resolution of financial difficulties that occur before the onset of insolvency, and the BIA incorporates many of them by reference in the application of its provisions. Notable legislation is in effect for governing: :* absconding debtors :* fraudulent conveyances :* relief of creditors :* seizure of asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Civil Law Studies
The ''Journal of Civil Law Studies'' (or ''JCLS'') is a peer-reviewed, online and open-access academic journal covering civil law issues. Published by the Center of Civil Law Studies of Louisiana State University, where law students participate in the editorial process once papers have been accepted for publication. It promotes a comparative and interdisciplinary approach to the civil law in Louisiana Louisiana ( ; ; ) is a state in the Deep South and South Central regions of the United States. It borders Texas to the west, Arkansas to the north, and Mississippi to the east. Of the 50 U.S. states, it ranks 31st in area and 25 ... and abroad. References External links * Law journals Academic journals established in 2008 English-language journals Louisiana State University {{law-journal-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ontario Court Of Appeal
The Court of Appeal for Ontario (frequently mistakenly referred to as the Ontario Court of Appeal) (ONCA is the abbreviation for its neutral citation) is the appellate court for the province of Ontario, Canada. The seat of the court is Osgoode Hall in downtown Toronto (also the seat of the Law Society of Ontario and the Divisional Court of the Ontario Superior Court of Justice). Description The Court is composed of 22 judicial seats, in addition to 10 justices who currently sit supernumerary. They hear over 1,500 appeals each year, on issues of private law, constitutional law, criminal law, administrative law and other matters. The Supreme Court of Canada hears appeals from less than 3% of the decisions of the Court of Appeal for Ontario, therefore in a practical sense, the Court of Appeal is the last avenue of appeal for most litigants in Ontario. Among the Court of Appeal's most notable decisions was the 2003 ruling in '' Halpern v Canada (AG)'' that found defining marriag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-deprivation Rule
The anti-deprivation rule (also known as fraud upon the bankruptcy law) is a principle applied by the courts in common law jurisdictions (other than the United States) in which, according to Mellish LJ in ''Re Jeavons, ex parte Mackay'', "a person cannot make it a part of his contract that, in the event of bankruptcy, he is then to get some additional advantage which prevents the property being distributed under the bankruptcy laws." Wood VC had earlier observed that "the law is too clearly settled to admit of a shadow of doubt that no person possessed of property can reserve that property to himself until he shall become bankrupt, and then provide that, in the event of his becoming bankrupt, it shall pass to another and not to his creditors." General scheme It arises from the general principle (known as the "rule against repugnancy" in property law) that a grantor may not derogate from his own grant by giving an absolute interest in an asset and then providing for it to be claw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Admiralty Law
Maritime law or admiralty law is a body of law that governs nautical issues and private maritime disputes. Admiralty law consists of both domestic law on maritime activities, and conflict of laws, private international law governing the relationships between private parties operating or using ocean-going ships. While each legal jurisdiction usually has its own legislation governing maritime matters, the international nature of the topic and the need for uniformity has, since 1900, led to considerable international maritime law developments, including numerous Multilateralism, multilateral treaties. Admiralty law, which mainly governs the relations of private parties, is distinguished from the law of the sea, a body of International law, public international law regulating maritime relationships between nations, such as navigational rights, mineral rights, and jurisdiction over coastal waters. While admiralty law is adjudicated in national courts, the United Nations Convention on t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Montreal V
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Canada
The Supreme Court of Canada (SCC; , ) is the highest court in the judicial system of Canada. It comprises nine justices, whose decisions are the ultimate application of Canadian law, and grants permission to between 40 and 75 litigants each year to appeal decisions rendered by provincial, territorial and federal appellate courts. The Supreme Court is bijural, hearing cases from two major legal traditions (common law and civil law) and bilingual, hearing cases in both official languages of Canada (English and French). The effects of any judicial decision on the common law, on the interpretation of statutes, or on any other application of law, can, in effect, be nullified by legislation, unless the particular decision of the court in question involves application of the Canadian Constitution, in which case, the decision (in most cases) is completely binding on the legislative branch. This is especially true of decisions which touch upon the ''Canadian Charter of Rights and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Bank Act
The ''Bank Act'' (1991, c. 46) () is an act of the Parliament of Canada respecting banks and banking. History The ''Bank Act'' was originally passed in 1871. The terms of the ''Act'' provide for a statutory review of the ''Act'' on a regular basis to ensure that legislators update the ''Act'' in order that it keep pace with developments in the financial system. Historically, this was done on a decennial basis. In 1992, this requirement was changed to every five years. The ''Act'' contains a "sunset" clause providing that it and the bank charters provided by it will expire unless the statutory review is conducted every five years. In 2016 the Federal Government proposed a two-year extension to the review deadline. The most recent statutory review of the ''Act'' took place in 2019 with the next review scheduled for 2023. Credit unions In 2010, the Parliament of Canada passed amendments to the ''Act'' to allow federal credit unions to exist as a new class of financial institu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McMillan LLP
McMillan LLP is a Canadian business law firm serving public, private and not-for-profit clients across various industries in North America and around the world. With offices in Canada's major centres – Vancouver, Calgary, Toronto, Ottawa and Montréal''.'' McMillan provides exceptional industry insights in transportation, technology, infrastructure and construction, and natural resources and energy. Whether it's a cross-border transaction, a complicated private equity deal, complex real estate financing, or a bet-the-company lawsuit or regulatory dispute, McMillan has the expertise leaders need to grow and succeed in the Canadian market or internationally. Founding Firms The firm was founded by Newton Rowell in 1903. At this time, it consisted of three lawyers and was called Rowell, Reid and Wood. By 1910, the firm had more than doubled in size to seven lawyers, which it maintained until the mid-twenties. Gordon McMillan joined the firm in 1921 and practiced for over half of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Property Security Act (Canada)
The ''Personal Property Security Act'' ("PPSA") is the name given to each of the statutes passed by all common law provinces, as well as the territories, of Canada that regulate the creation and registration of security interests in all personal property within their respective jurisdictions. It is similar in structure to Secured transactions in the United States, Article 9 of the Uniform Commercial Code in the United States, but there are important differences.Bruce MacDougall, Fixtures and the PPSA: Of the Wooden Horse of Troy, Creditors in the Weeds and Statutory Ambush, 1993 72-4 Canadian Bar Review 496, 1993 CanLIIDocs 149, , retrieved on 2021-01-30John J Chapman, Mistake, Sharp Practice, Equity and the PPSA, 1999 78-1&2 Canadian Bar Review 71, 1999 CanLIIDocs 91, , retrieved on 2021-01-30Alberta Law Reform Institute, Personal Property Security Law, Alberta Law Reform Institute, 2020 CanLIIDocs 3241, , retrieved on 2021-01-30Michael G Bridge et al, Formalism, Functionalism, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hypothec
Hypothec (; , , from Lat. ''hypotheca'', from Gk. : hypothēkē), sometimes tacit hypothec, is a term used in civil law systems (e.g. the law of most of Continental Europe) to refer to a registered real security of a creditor over real estate, but under some jurisdictions it may additionally cover ships only (ship hypothec), as opposed to other collaterals, including corporeal movables other than ships, securities or intangible assets such as intellectual property rights, covered by a different type of right ( pledge). Common law has two main equivalents to the term: mortgages and non-possessory lien. Overview This real right in security operates by way of hypothecation. It may arise only through being entered into the land and hypothec register or the ship registry, as a result of: * a hypothecary loan contract, required in the form of a notarial act - in case of a contractual hypothec * an administrative or court decision - in case of a compulsory hypothec Hypothec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
